Victory Capital Management Inc. Sells 72,825 Shares of Illumina, Inc. (NASDAQ:ILMN)

Victory Capital Management Inc. cut its holdings in Illumina, Inc. (NASDAQ:ILMN) by 57.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,550 shares of the life sciences company’s stock after selling 72,825 shares during the quarter. Victory Capital Management Inc.’s holdings in Illumina were worth $7,156,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. WCM Investment Management LLC lifted its stake in Illumina by 26.6% in the fourth quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company’s stock worth $551,625,000 after acquiring an additional 867,673 shares during the period. Bank of New York Mellon Corp lifted its stake in Illumina by 0.8% in the fourth quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company’s stock worth $454,617,000 after acquiring an additional 27,618 shares during the period. Geode Capital Management LLC lifted its stake in Illumina by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company’s stock worth $354,933,000 after acquiring an additional 48,018 shares during the period. Primecap Management Co. CA lifted its stake in Illumina by 3.6% in the third quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company’s stock worth $328,158,000 after acquiring an additional 87,599 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in Illumina by 40.5% in the third quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock worth $282,735,000 after acquiring an additional 625,245 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ILMN has been the subject of a number of research reports. Guggenheim lowered their price objective 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. 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 research report on Tuesday, February 11th. Royal Bank of Canada decreased their price target on shares of Illumina from $247.00 to $128.00 and set an “outperform” rating for the company in a research report on Wednesday. HSBC lowered shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Friday, February 28th. Finally, Hsbc Global Res lowered shares of Illumina from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Illumina presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.90.

Illumina Price Performance

Shares of NASDAQ:ILMN opened at $85.60 on Friday. Illumina, Inc. has a twelve month low of $80.18 and a twelve month high of $156.66. The company’s 50 day moving average is $113.52 and its 200 day moving average is $129.88. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The company has a market cap of $13.56 billion, a PE ratio of -11.15, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data 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%. On average, sell-side analysts forecast that Illumina, Inc. will post 4.51 EPS for the current year.

Illumina Company 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.