22,094 Illumina, Inc. $ILMN Shares Sold by McKinney Capital Management LLC

McKinney Capital Management LLC lessened its stake in Illumina, Inc. (NASDAQ:ILMN) by 42.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,955 shares of the life sciences company’s stock after selling 22,094 shares during the period. Illumina accounts for approximately 3.0% of McKinney Capital Management LLC’s investment portfolio, making the stock its 9th largest holding. McKinney Capital Management LLC’s holdings in Illumina were worth $8,198,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ILMN. BlackRock Inc. purchased a new stake in shares of Illumina during the second quarter valued at about $3,374,423,000. WCM Investment Management LLC boosted its holdings in shares of Illumina by 45.5% in the 1st quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company’s stock valued at $715,579,000 after buying an additional 1,851,848 shares in the last quarter. Primecap Management Co. CA bought a new stake in shares of Illumina in the 2nd quarter valued at about $617,981,000. Janus Henderson Group PLC grew its position in shares of Illumina by 1.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,100,638 shares of the life sciences company’s stock worth $258,924,000 after buying an additional 29,094 shares during the last quarter. Finally, Southpoint Capital Advisors LP grew its position in shares of Illumina by 20.0% in the 1st quarter. Southpoint Capital Advisors LP now owns 2,100,000 shares of the life sciences company’s stock worth $258,846,000 after buying an additional 349,536 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors.

Illumina Stock Down 1.2%

NASDAQ ILMN traded down $2.54 during trading on Friday, hitting $207.01. The company’s stock had a trading volume of 1,229,158 shares, compared to its average volume of 2,291,458. Illumina, Inc. has a fifty-two week low of $112.65 and a fifty-two week high of $309.35. The company has a market cap of $31.30 billion, a PE ratio of 35.63, a P/E/G ratio of 2.84 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.63 and a quick ratio of 2.05. The business’s 50 day simple moving average is $249.02 and its 200-day simple moving average is $179.64.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, October 29th. The life sciences company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.26. Illumina had a net margin of 19.72% and a return on equity of 28.38%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the company posted $1.34 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts anticipate that Illumina, Inc. will post 5.43 EPS for the current fiscal year.

Top Illumina Stories

Investors following ILMN have been watching these stories:

• Positive Sentiment: An updated valuation estimate raised Illumina’s fair value to $261.45 per share from $248.90, offering a potential upside reference. Illumina Stock Sees Modest Fair Value Lift
• Neutral Sentiment: Chief Accounting Officer Scott Ericksen sold 267 shares under a pre-arranged Rule 10b5-1 plan, a relatively small reduction in his holdings. SEC filing
• Negative Sentiment: Director Keith Meister sold 280,091 shares for approximately $61.1 million across November 9–11, cutting his direct stake substantially. The scale of the sales could concern investors, although he retained a sizable holding. SEC filing

Insider Buying and Selling

In other Illumina news, Director Keith A. Meister sold 98,833 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $216.87, for a total transaction of $21,433,912.71. Following the transaction, the director owned 208,826 shares in the company, valued at approximately $45,288,094.62. This represents a 32.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Scott D. Ericksen sold 267 shares of the firm’s stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $217.76, for a total transaction of $58,141.92. Following the completion of the transaction, the chief accounting officer directly owned 14,029 shares of the company’s stock, valued at approximately $3,054,955.04. This represents a 1.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,881,899 shares of company stock valued at $415,905,954 over the last quarter. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on ILMN shares. Leerink Partners boosted their price objective on shares of Illumina from $220.00 to $300.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 29th. Stephens downgraded shares of Illumina from an “overweight” rating to an “equal weight” rating and set a $275.00 target price for the company. in a research note on Friday, October 23rd. Stifel Nicolaus raised their target price on shares of Illumina from $155.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Citigroup lifted their price target on shares of Illumina from $113.00 to $210.00 and gave the stock a “sell” rating in a report on Monday, November 2nd. Finally, Barclays upped their price target on Illumina from $160.00 to $200.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 7th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $244.24.

About Illumina

Illumina, Inc. develops and supplies technologies used to analyze genetic variation and biological function. Its products include next-generation sequencing systems, microarrays, reagents and consumables, as well as software and related services that help customers generate and interpret genomic data. The company’s technology is used in applications such as medical and population research, genetic testing, drug development, and agricultural and environmental studies. Its customers include academic and government research institutions, hospitals and clinical laboratories, biotechnology and pharmaceutical companies, and other organizations around the world.