Illumina, Inc. (NASDAQ:ILMN) Shares Sold by Biondo Investment Advisors LLC

Biondo Investment Advisors LLC cut its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 69,166 shares of the life sciences company's stock after selling 9,156 shares during the quarter. Biondo Investment Advisors LLC's holdings in Illumina were worth $9,243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ILMN. Golden State Wealth Management LLC acquired a new stake in Illumina in the fourth quarter valued at $32,000. Versant Capital Management Inc grew its stake in Illumina by 153.7% in the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company's stock valued at $32,000 after acquiring an additional 146 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Illumina during the 4th quarter valued at about $45,000. Assetmark Inc. raised its position in Illumina by 954.8% during the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock worth $44,000 after acquiring an additional 296 shares during the last quarter. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Illumina in the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 89.42% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Illumina from $150.00 to $136.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. Hsbc Global Res downgraded Illumina from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Piper Sandler lifted their price objective on Illumina from $185.00 to $190.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Citigroup reduced their target price on shares of Illumina from $130.00 to $90.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Finally, Barclays reaffirmed an "underweight" rating on shares of Illumina in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Illumina currently has an average rating of "Moderate Buy" and a consensus target price of $140.90.

Illumina Stock Up 4.6 %

NASDAQ ILMN traded up $3.60 during trading hours on Wednesday, hitting $81.99. The company had a trading volume of 996,742 shares, compared to its average volume of 2,207,934. The firm's 50 day moving average is $100.39 and its 200 day moving average is $126.13. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. Illumina, Inc. has a fifty-two week low of $77.54 and a fifty-two week high of $156.66. The company has a market capitalization of $12.99 billion, a price-to-earnings ratio of -10.68, a P/E/G ratio of 1.60 and a beta of 1.17.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. Sell-side analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

About Illumina

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.