Kentucky Retirement Systems Cuts Position in Illumina, Inc. (NASDAQ:ILMN)

Kentucky Retirement Systems trimmed its position in Illumina, Inc. (NASDAQ:ILMN) by 5.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,060 shares of the life sciences company’s stock after selling 646 shares during the quarter. Kentucky Retirement Systems’ holdings in Illumina were worth $1,656,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ILMN. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Illumina by 22.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,576 shares of the life sciences company’s stock valued at $1,194,000 after buying an additional 1,582 shares during the period. Caprock Group LLC raised its holdings in shares of Illumina by 27.2% during the 4th quarter. Caprock Group LLC now owns 2,948 shares of the life sciences company’s stock valued at $411,000 after buying an additional 631 shares during the period. Gradient Investments LLC raised its holdings in shares of Illumina by 375.0% during the 4th quarter. Gradient Investments LLC now owns 285 shares of the life sciences company’s stock valued at $40,000 after buying an additional 225 shares during the period. Quent Capital LLC raised its holdings in shares of Illumina by 45.2% during the 4th quarter. Quent Capital LLC now owns 363 shares of the life sciences company’s stock valued at $51,000 after buying an additional 113 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd raised its holdings in shares of Illumina by 9.4% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 1,541 shares of the life sciences company’s stock valued at $215,000 after buying an additional 133 shares during the period. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Price Performance

Shares of ILMN traded up $3.13 during midday trading on Friday, reaching $120.43. The stock had a trading volume of 1,467,725 shares, compared to its average volume of 1,755,526. Illumina, Inc. has a 52 week low of $89.00 and a 52 week high of $195.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.36. The firm’s 50 day moving average price is $109.87 and its 200-day moving average price is $124.19. The company has a market capitalization of $19.18 billion, a P/E ratio of -14.78 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the business earned $0.08 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, analysts forecast that Illumina, Inc. will post 1.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on ILMN. TD Cowen lowered their price objective on Illumina from $140.00 to $122.00 and set a “hold” rating for the company in a research note on Thursday, June 6th. Robert W. Baird raised their price objective on Illumina from $125.00 to $128.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Jefferies Financial Group began coverage on Illumina in a research note on Monday, June 3rd. They set a “hold” rating and a $115.00 price objective for the company. Evercore ISI lowered their price objective on Illumina from $195.00 to $175.00 and set an “outperform” rating for the company in a research note on Tuesday, June 11th. Finally, StockNews.com assumed coverage on Illumina in a research report on Sunday, June 30th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Illumina has an average rating of “Hold” and an average target price of $158.57.

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.