Oppenheimer & Co. Inc. Sells 10,424 Shares of Illumina, Inc. (NASDAQ:ILMN)

Oppenheimer & Co. Inc. cut its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 20.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,887 shares of the life sciences company's stock after selling 10,424 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Illumina were worth $5,332,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Mengis Capital Management Inc. acquired a new position in shares of Illumina during the 3rd quarter valued at $1,221,000. Platform Technology Partners raised its position in shares of Illumina by 4.2% during the third quarter. Platform Technology Partners now owns 3,512 shares of the life sciences company's stock worth $458,000 after purchasing an additional 141 shares during the period. Entropy Technologies LP bought a new position in shares of Illumina in the 3rd quarter worth $1,378,000. Venturi Wealth Management LLC lifted its holdings in shares of Illumina by 18.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,650 shares of the life sciences company's stock worth $346,000 after purchasing an additional 422 shares in the last quarter. Finally, Weil Company Inc. grew its position in Illumina by 10.2% in the 3rd quarter. Weil Company Inc. now owns 21,144 shares of the life sciences company's stock valued at $2,757,000 after purchasing an additional 1,952 shares during the period. 89.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ILMN has been the subject of a number of analyst reports. Canaccord Genuity Group lifted their price target on Illumina from $130.00 to $145.00 and gave the company a "hold" rating in a research note on Tuesday, November 5th. TD Cowen raised their price target on shares of Illumina from $166.00 to $177.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on shares of Illumina from $125.00 to $140.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. StockNews.com initiated coverage on shares of Illumina in a research report on Thursday, August 29th. They set a "buy" rating on the stock. Finally, Robert W. Baird boosted their target price on Illumina from $124.00 to $139.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $164.00.

Illumina Price Performance

ILMN traded down $7.36 during trading on Friday, reaching $134.88. 2,945,971 shares of the company were exchanged, compared to its average volume of 2,011,810. Illumina, Inc. has a 12-month low of $92.69 and a 12-month high of $156.66. The company's 50-day moving average is $139.44 and its two-hundred day moving average is $124.23. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. The company has a market cap of $21.39 billion, a price-to-earnings ratio of -13.76 and a beta of 1.13.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.26. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. Illumina's revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.33 earnings per share. Research analysts forecast that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.

Illumina Profile

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.