Procyon Advisors LLC Acquires 6,556 Shares of Illumina, Inc. (NASDAQ:ILMN)

Procyon Advisors LLC lifted its stake in shares of Illumina, Inc. (NASDAQ:ILMNFree Report) by 108.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 12,589 shares of the life sciences company’s stock after buying an additional 6,556 shares during the period. Procyon Advisors LLC’s holdings in Illumina were worth $1,729,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ILMN. VisionPoint Advisory Group LLC lifted its position in Illumina by 344.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 249 shares of the life sciences company’s stock valued at $34,000 after acquiring an additional 193 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in Illumina in the 4th quarter valued at $37,000. Massmutual Trust Co. FSB ADV raised its position in Illumina by 86.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock valued at $39,000 after buying an additional 132 shares during the last quarter. Gradient Investments LLC lifted its stake in 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 acquiring an additional 225 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its holdings in Illumina by 183.0% during the 4th quarter. North Star Investment Management Corp. now owns 300 shares of the life sciences company’s stock worth $42,000 after acquiring an additional 194 shares during the last quarter. 89.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ILMN shares. Evercore ISI reduced their target price on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating for the company in a research report on Tuesday, June 11th. TD Cowen cut their target price on shares of Illumina from $140.00 to $122.00 and set a “hold” rating for the company in a research report on Thursday, June 6th. StockNews.com began coverage on shares of Illumina in a research note on Saturday, June 22nd. They issued a “buy” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $253.00 price target on shares of Illumina in a research report on Tuesday, April 9th. Finally, Scotiabank dropped their price objective on Illumina from $185.00 to $176.00 and set a “sector outperform” rating on the stock in a report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $158.14.

Read Our Latest Research Report on Illumina

Illumina Stock Performance

Shares of NASDAQ ILMN opened at $106.46 on Friday. Illumina, Inc. has a 12-month low of $89.00 and a 12-month high of $195.64. The stock’s fifty day simple moving average is $112.09 and its two-hundred day simple moving average is $127.49. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26.

Illumina (NASDAQ:ILMNGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 EPS. Equities analysts expect that Illumina, Inc. will post 0.98 EPS for the current year.

About Illumina

(Free Report)

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.

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Institutional Ownership by Quarter for Illumina (NASDAQ:ILMN)

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