Skandinaviska Enskilda Banken AB publ Has $6.15 Million Holdings in Illumina, Inc. (NASDAQ:ILMN)

Skandinaviska Enskilda Banken AB publ reduced its position in Illumina, Inc. (NASDAQ:ILMN) by 38.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,894 shares of the life sciences company’s stock after selling 36,981 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Illumina were worth $6,148,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board raised its stake in shares of Illumina by 69.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 473,750 shares of the life sciences company’s stock valued at $49,450,000 after acquiring an additional 194,399 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Illumina in the 2nd quarter valued at approximately $313,000. Seven Eight Capital LP bought a new position in shares of Illumina in the 2nd quarter valued at approximately $766,000. CCLA Investment Management raised its stake in shares of Illumina by 113.6% in the 2nd quarter. CCLA Investment Management now owns 443,928 shares of the life sciences company’s stock valued at $47,148,000 after acquiring an additional 236,097 shares in the last quarter. Finally, Amalgamated Bank raised its stake in shares of Illumina by 140.3% in the 2nd quarter. Amalgamated Bank now owns 80,522 shares of the life sciences company’s stock valued at $8,405,000 after acquiring an additional 47,014 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Price Performance

Illumina stock opened at $131.20 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11. The firm has a market cap of $20.90 billion, a P/E ratio of -16.10 and a beta of 1.15. The business’s fifty day moving average is $125.25 and its two-hundred day moving average is $120.47. Illumina, Inc. has a 52 week low of $89.00 and a 52 week high of $148.19.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Equities research analysts forecast that Illumina, Inc. will post 3.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ILMN has been the topic of several recent analyst reports. TD Cowen raised Illumina from a “hold” rating to a “buy” rating and lifted their price target for the stock from $126.00 to $144.00 in a research report on Wednesday, August 14th. StockNews.com initiated coverage on Illumina in a research report on Thursday, August 29th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. dropped their price target on Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Daiwa Capital Markets raised Illumina from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $120.00 to $154.00 in a research report on Friday, August 16th. Finally, Jefferies Financial Group initiated coverage on Illumina in a research report on Monday, June 3rd. They issued a “hold” rating and a $115.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Illumina has an average rating of “Moderate Buy” and a consensus price target of $151.05.

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.