Reynders McVeigh Capital Management LLC Sells 11,533 Shares of Illumina, Inc. (NASDAQ:ILMN)

Reynders McVeigh Capital Management LLC cut its holdings in Illumina, Inc. (NASDAQ:ILMN) by 59.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,846 shares of the life sciences company’s stock after selling 11,533 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Illumina were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Empowered Funds LLC grew its position in shares of Illumina by 1.7% during the 3rd quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock valued at $516,000 after purchasing an additional 66 shares in the last quarter. Caprock Group LLC grew its position in Illumina by 3.0% in the third quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock worth $376,000 after acquiring an additional 83 shares in the last quarter. UMB Bank n.a. grew its position in Illumina by 7.0% in the second quarter. UMB Bank n.a. now owns 1,341 shares of the life sciences company’s stock worth $140,000 after acquiring an additional 88 shares in the last quarter. Integrated Advisors Network LLC grew its position in Illumina by 2.0% in the third quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock worth $585,000 after acquiring an additional 90 shares in the last quarter. Finally, Moors & Cabot Inc. grew its position in Illumina by 1.7% in the third quarter. Moors & Cabot Inc. now owns 5,818 shares of the life sciences company’s stock worth $759,000 after acquiring an additional 95 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Stephens upped their target price on shares of Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Scotiabank cut their price target on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 15th. UBS Group upped their price target on shares of Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Daiwa Capital Markets upgraded shares of Illumina from a “neutral” rating to a “buy” rating and upped their price target for the company from $120.00 to $154.00 in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Illumina has a consensus rating of “Moderate Buy” and an average price target of $164.00.

Illumina Price Performance

ILMN stock opened at $142.50 on Thursday. Illumina, Inc. has a 1 year low of $100.08 and a 1 year high of $156.66. The company has a market cap of $22.60 billion, a P/E ratio of -14.31 and a beta of 1.11. The firm has a 50-day moving average of $142.74 and a 200 day moving average of $126.57. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. Illumina’s revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 earnings per share. On average, sell-side analysts forecast that Illumina, Inc. will post 4.11 EPS for the current year.

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.