Reynders McVeigh Capital Management LLC Trims Position in Illumina, Inc. (NASDAQ:ILMN)

Reynders McVeigh Capital Management LLC trimmed its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 59.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,846 shares of the life sciences company's stock after selling 11,533 shares during the quarter. Reynders McVeigh Capital Management LLC's holdings in Illumina were worth $1,023,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Industrial Alliance Investment Management Inc. purchased a new stake in Illumina in the 2nd quarter valued at $34,000. Massmutual Trust Co. FSB ADV raised its position in Illumina by 65.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company's stock valued at $56,000 after buying an additional 168 shares during the last quarter. Private Trust Co. NA raised its position in Illumina by 81.2% in the 3rd quarter. Private Trust Co. NA now owns 473 shares of the life sciences company's stock valued at $62,000 after buying an additional 212 shares during the last quarter. Focused Wealth Management Inc purchased a new stake in Illumina in the 3rd quarter valued at $63,000. Finally, Hollencrest Capital Management bought a new position in Illumina in the 3rd quarter valued at $63,000. 89.42% of the stock is owned by institutional investors and hedge funds.

Illumina Trading Down 1.8 %

ILMN stock traded down $2.59 during midday trading on Thursday, hitting $139.91. The company had a trading volume of 1,393,248 shares, compared to its average volume of 2,019,056. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. Illumina, Inc. has a 52 week low of $100.08 and a 52 week high of $156.66. The stock's 50 day moving average price is $142.90 and its 200 day moving average price is $126.66. The stock has a market cap of $22.19 billion, a price-to-earnings ratio of -14.05 and a beta of 1.11.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. The business's revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts expect that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

ILMN has been the subject of a number of recent analyst reports. UBS Group upped their price objective on Illumina from $133.00 to $145.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. HSBC upgraded Illumina from a "hold" rating to a "buy" rating and set a $180.00 price target for the company in a research note on Thursday, October 17th. Barclays increased their price target on Illumina from $135.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 5th. Morgan Stanley reiterated an "equal weight" rating and set a $156.00 price target on shares of Illumina in a research note on Tuesday, November 12th. Finally, Hsbc Global Res raised Illumina from a "hold" rating to a "strong-buy" rating and set a $180.00 target price for the company in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $164.00.

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.