American Century Companies Inc. Sells 24,544 Shares of Illumina, Inc. (NASDAQ:ILMN)

American Century Companies Inc. lessened its holdings in Illumina, Inc. (NASDAQ:ILMN) by 23.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,007 shares of the life sciences company’s stock after selling 24,544 shares during the period. American Century Companies Inc. owned 0.05% of Illumina worth $8,456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Wellington Shields & Co. LLC raised its position in shares of Illumina by 4.4% in the second quarter. Wellington Shields & Co. LLC now owns 32,772 shares of the life sciences company’s stock valued at $3,421,000 after purchasing an additional 1,379 shares during the period. Carson Advisory Inc. lifted its position in Illumina by 60.4% during the second quarter. Carson Advisory Inc. now owns 2,655 shares of the life sciences company’s stock worth $277,000 after acquiring an additional 1,000 shares during the last quarter. Headlands Technologies LLC boosted its holdings in shares of Illumina by 138.7% during the second quarter. Headlands Technologies LLC now owns 7,269 shares of the life sciences company’s stock worth $759,000 after acquiring an additional 4,224 shares during the period. Gryphon Financial Partners LLC grew its position in shares of Illumina by 30.2% in the second quarter. Gryphon Financial Partners LLC now owns 2,556 shares of the life sciences company’s stock valued at $267,000 after purchasing an additional 593 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Illumina by 23.3% during the second quarter. Daiwa Securities Group Inc. now owns 84,841 shares of the life sciences company’s stock worth $8,856,000 after purchasing an additional 16,043 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Stock Performance

Illumina stock opened at $130.10 on Tuesday. The business has a 50 day moving average of $125.52 and a 200-day moving average of $120.42. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $148.19. The company has a market capitalization of $20.72 billion, a P/E ratio of -15.96 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.24. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. On average, equities research analysts predict that Illumina, Inc. will post 3.62 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Evercore ISI lowered their price objective on Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $242.00 price objective on shares of Illumina in a research note on Wednesday, August 14th. Barclays upgraded Illumina from an “underweight” rating to an “equal weight” rating and set a $125.00 price target for the company in a research note on Wednesday, August 14th. Scotiabank lowered their price objective on Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. cut their target price on Illumina from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.