Northwestern Mutual Wealth Management Co. Sells 2,619 Shares of Illumina, Inc. (NASDAQ:ILMN)

Northwestern Mutual Wealth Management Co. reduced its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 38.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,143 shares of the life sciences company’s stock after selling 2,619 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Illumina were worth $432,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trivant Custom Portfolio Group LLC lifted its position in shares of Illumina by 166.7% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock worth $27,000 after buying an additional 125 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Illumina by 86.8% during the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock worth $39,000 after acquiring an additional 132 shares during the period. Industrial Alliance Investment Management Inc. bought a new position in Illumina in the 2nd quarter valued at $34,000. Versant Capital Management Inc grew its stake in Illumina by 292.9% in the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after purchasing an additional 246 shares during the period. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Illumina during the 4th quarter valued at $56,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Evercore ISI dropped their price objective on Illumina from $195.00 to $175.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 11th. StockNews.com initiated coverage on Illumina in a report on Thursday, August 29th. They issued a “buy” rating for the company. Scotiabank dropped their price objective on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. Piper Sandler reduced their target price on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Finally, Citigroup upped their price target on shares of Illumina from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.05.

Illumina Stock Down 0.7 %

Shares of NASDAQ:ILMN opened at $139.66 on Wednesday. The firm has a market capitalization of $22.25 billion, a P/E ratio of -17.33 and a beta of 1.15. 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 stock has a 50 day moving average price of $128.52 and a 200-day moving average price of $120.45. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. As a group, equities research analysts anticipate that Illumina, Inc. will post 3.63 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.