Summit Investment Advisors Inc. Sells 5,708 Shares of Illumina, Inc. (NASDAQ:ILMN)

Summit Investment Advisors Inc. decreased its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 15.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,767 shares of the life sciences company's stock after selling 5,708 shares during the quarter. Summit Investment Advisors Inc.'s holdings in Illumina were worth $4,245,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in shares of Illumina by 153.7% during the fourth 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 period. Golden State Wealth Management LLC bought a new stake in shares of Illumina during the fourth quarter worth approximately $32,000. Assetmark Inc. lifted its holdings in Illumina by 954.8% in the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock valued at $44,000 after buying an additional 296 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in Illumina in the fourth quarter valued at approximately $45,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Illumina during the 4th quarter worth $48,000. 89.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Piper Sandler raised their price target on Illumina from $185.00 to $190.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. HSBC cut Illumina from a "buy" rating to a "hold" rating and set a $100.00 target price on the stock. in a report on Friday, February 28th. Royal Bank of Canada cut their price target on shares of Illumina from $128.00 to $112.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Guggenheim lowered their target price on shares of Illumina from $170.00 to $150.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Finally, Morgan Stanley decreased their price target on shares of Illumina from $150.00 to $136.00 and set an "equal weight" rating for the company in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Illumina presently has a consensus rating of "Moderate Buy" and an average price target of $138.70.

Illumina Stock Performance

ILMN stock traded down $2.32 during trading hours on Friday, reaching $71.21. The stock had a trading volume of 2,639,652 shares, compared to its average volume of 2,271,527. The stock has a market capitalization of $11.27 billion, a PE ratio of -9.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38. The stock has a 50-day simple moving average of $84.61 and a 200 day simple moving average of $120.40. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. 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 (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. Analysts predict that Illumina, Inc. will post 4.51 EPS 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.