Federated Hermes Inc. Sells 40,547 Shares of Illumina, Inc. (NASDAQ:ILMN)

Federated Hermes Inc. decreased its position in Illumina, Inc. (NASDAQ:ILMN) by 93.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,944 shares of the life sciences company’s stock after selling 40,547 shares during the period. Federated Hermes Inc.’s holdings in Illumina were worth $410,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Illumina in the 3rd quarter valued at $30,000. VisionPoint Advisory Group LLC boosted its holdings in Illumina by 344.6% during the third quarter. VisionPoint Advisory Group LLC now owns 249 shares of the life sciences company’s stock worth $34,000 after buying an additional 193 shares during the last quarter. Gradient Investments LLC grew its position in shares of Illumina by 375.0% during the 4th quarter. Gradient Investments LLC now owns 285 shares of the life sciences company’s stock worth $40,000 after buying an additional 225 shares during the period. North Star Investment Management Corp. increased its stake in shares of Illumina by 183.0% in the 4th quarter. North Star Investment Management Corp. now owns 300 shares of the life sciences company’s stock valued at $42,000 after acquiring an additional 194 shares during the last quarter. Finally, Ramirez Asset Management Inc. acquired a new stake in shares of Illumina in the 3rd quarter valued at approximately $48,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ILMN has been the subject of several recent analyst reports. StockNews.com downgraded shares of Illumina from a “buy” rating to a “hold” rating in a research note on Friday. OTR Global reiterated a “mixed” rating on shares of Illumina in a report on Wednesday, March 20th. Royal Bank of Canada restated an “outperform” rating and issued a $253.00 price target on shares of Illumina in a report on Tuesday, April 9th. Robert W. Baird lifted their price objective on Illumina from $125.00 to $128.00 and gave the company a “neutral” rating in a report on Friday. Finally, Barclays increased their target price on Illumina from $85.00 to $100.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $165.10.

Insider Activity

In other news, CEO Jacob Thaysen acquired 7,330 shares of Illumina stock in a transaction on Thursday, February 22nd. The shares were purchased at an average cost of $135.29 per share, for a total transaction of $991,675.70. Following the completion of the purchase, the chief executive officer now directly owns 14,861 shares of the company’s stock, valued at approximately $2,010,544.69. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

Illumina Price Performance

Illumina stock opened at $117.93 on Friday. The company has a market capitalization of $18.78 billion, a price-to-earnings ratio of -14.47 and a beta of 1.20. The stock’s 50 day moving average is $130.03 and its 200-day moving average is $127.02. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26. Illumina, Inc. has a 12 month low of $89.00 and a 12 month high of $213.91.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Illumina had a positive return on equity of 2.28% and a negative net margin of 28.71%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.08 EPS. Equities research analysts expect that Illumina, Inc. will post 0.91 EPS for the current year.

Illumina Company 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.