Primecap Management Co. CA Sells 57,290 Shares of Illumina, Inc. (ILMN)

Primecap Management Co. CA lowered its holdings in Illumina, Inc. (NASDAQ:ILMN) by 5.1% during the third quarter, Holdings Channel reports. The fund owned 1,069,553 shares of the life sciences company’s stock after selling 57,290 shares during the period. Primecap Management Co. CA’s holdings in Illumina were worth $392,590,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Highstreet Asset Management Inc. bought a new position in Illumina in the third quarter worth about $112,000. Ancora Advisors LLC bought a new position in Illumina in the third quarter worth about $145,000. Sun Life Financial INC lifted its holdings in Illumina by 152.5% in the second quarter. Sun Life Financial INC now owns 399 shares of the life sciences company’s stock worth $111,000 after acquiring an additional 241 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Illumina by 3,192.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 428 shares of the life sciences company’s stock worth $120,000 after acquiring an additional 415 shares during the last quarter. Finally, SRS Capital Advisors Inc. bought a new position in Illumina in the third quarter worth about $157,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Omead Ostadan sold 644 shares of the business’s stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $306.74, for a total transaction of $197,540.56. Following the sale, the executive vice president now owns 22,257 shares of the company’s stock, valued at $6,827,112.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Oene Mark Van sold 1,091 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $354.18, for a total value of $386,410.38. Following the sale, the senior vice president now directly owns 11,126 shares in the company, valued at approximately $3,940,606.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,708 shares of company stock worth $23,320,362. 0.54% of the stock is owned by corporate insiders.

A number of brokerages have issued reports on ILMN. ValuEngine cut shares of Illumina from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 11th. Zacks Investment Research cut Illumina from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Cowen lifted their price target on Illumina from $315.00 to $400.00 and gave the company a “positive” rating in a report on Thursday, September 6th. BidaskClub raised Illumina from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 1st. Finally, Barclays lifted their price target on Illumina from $350.00 to $370.00 and gave the company an “overweight” rating in a report on Wednesday, October 24th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $330.94.

ILMN opened at $337.50 on Friday. Illumina, Inc. has a twelve month low of $207.51 and a twelve month high of $372.61. The company has a market cap of $49.68 billion, a PE ratio of 84.38, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The company has a current ratio of 2.46, a quick ratio of 2.24 and a debt-to-equity ratio of 0.24.

Illumina (NASDAQ:ILMN) last announced its earnings results on Tuesday, October 23rd. The life sciences company reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.26. Illumina had a return on equity of 27.10% and a net margin of 21.09%. The firm had revenue of $853.00 million for the quarter, compared to analysts’ expectations of $825.65 million. During the same quarter in the previous year, the company earned $1.11 earnings per share. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, analysts anticipate that Illumina, Inc. will post 5.75 earnings per share for the current year.

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Illumina Profile

Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing by synthesis technology that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as allow the detection of known genetic markers on a single array.

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Institutional Ownership by Quarter for Illumina (NASDAQ:ILMN)

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