Public Employees Retirement System of Ohio Reduces Holdings in Illumina, Inc. (NASDAQ:ILMN)

Public Employees Retirement System of Ohio lessened its stake in Illumina, Inc. (NASDAQ:ILMN) by 9.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 64,820 shares of the life sciences company’s stock after selling 7,045 shares during the period. Public Employees Retirement System of Ohio’s holdings in Illumina were worth $8,901,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Trivant Custom Portfolio Group LLC increased its holdings in Illumina by 166.7% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock valued at $27,000 after purchasing an additional 125 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Illumina in the 4th quarter valued at approximately $37,000. Massmutual Trust Co. FSB ADV increased its holdings 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 purchasing an additional 132 shares during the last quarter. Gradient Investments LLC increased its holdings in Illumina by 375.0% in the 4th quarter. Gradient Investments LLC now owns 285 shares of the life sciences company’s stock valued at $40,000 after purchasing an additional 225 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC purchased a new position in Illumina in the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Scotiabank decreased their price target on shares of Illumina from $185.00 to $176.00 and set a “sector outperform” rating for the company in a research report on Monday, May 6th. Royal Bank of Canada decreased their price objective on shares of Illumina from $249.00 to $242.00 and set an “outperform” rating for the company in a research report on Monday, July 1st. StockNews.com began coverage on shares of Illumina in a research report on Sunday, June 30th. They issued a “buy” rating for the company. Barclays boosted their price target on shares of Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, April 10th. Finally, Stephens reissued an “overweight” rating and issued a $170.00 price target on shares of Illumina in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Illumina has an average rating of “Hold” and a consensus target price of $158.57.

Illumina Price Performance

ILMN stock traded up $1.13 during trading on Monday, reaching $121.56. 1,097,577 shares of the company were exchanged, compared to its average volume of 2,125,137. The company has a market cap of $19.36 billion, a P/E ratio of -14.78 and a beta of 1.15. Illumina, Inc. has a 52-week low of $89.00 and a 52-week high of $195.64. The stock’s 50 day moving average price is $109.87 and its 200 day moving average price is $124.08. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.75.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 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 firm’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 earnings per share. As a group, analysts predict that Illumina, Inc. will post 1.38 earnings per share for the current fiscal year.

Illumina 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.