Toronto Dominion Bank Reduces Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Toronto Dominion Bank lessened its stake in Illumina, Inc. (NASDAQ:ILMN) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,401 shares of the life sciences company’s stock after selling 1,437 shares during the quarter. Toronto Dominion Bank’s holdings in Illumina were worth $3,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital World Investors raised its holdings in Illumina by 408.6% in the 4th quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company’s stock worth $2,408,721,000 after purchasing an additional 14,481,232 shares during the period. Brown Advisory Inc. grew its position in Illumina by 54,220.9% in the fourth quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company’s stock worth $255,586,000 after acquiring an additional 1,909,118 shares during the period. Norges Bank purchased a new position in Illumina in the fourth quarter worth approximately $228,714,000. Bessemer Group Inc. grew its position in Illumina by 32,837.5% in the fourth quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company’s stock worth $180,152,000 after acquiring an additional 1,344,038 shares during the period. Finally, WCM Investment Management LLC lifted its stake in Illumina by 26.6% during 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 purchasing an additional 867,673 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on ILMN shares. Citigroup decreased their price target on Illumina from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Robert W. Baird cut their price target on Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley cut their price target on Illumina from $136.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, May 12th. Royal Bank of Canada dropped their price objective on Illumina from $128.00 to $112.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Finally, HSBC lowered Illumina from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $128.15.

Illumina Price Performance

Shares of ILMN opened at $80.54 on Friday. The stock’s 50 day moving average is $78.23 and its two-hundred day moving average is $109.53. Illumina, Inc. has a twelve month low of $68.70 and a twelve month high of $156.66. 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 firm has a market capitalization of $12.75 billion, a PE ratio of -10.49, a P/E/G ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm earned $0.98 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Research analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Ankur Dhingra acquired 6,100 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the transaction, the chief financial officer now directly owns 24,906 shares of the company’s stock, valued at approximately $2,022,616.26. This trade represents a 32.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.60% of the company’s stock.

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.