Buckley Wealth Management LLC Cuts Position in Illumina, Inc. (NASDAQ:ILMN)

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Buckley Wealth Management LLC lessened its stake in Illumina, Inc. (NASDAQ:ILMN) by 4.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,860 shares of the life sciences company’s stock after selling 90 shares during the quarter. Buckley Wealth Management LLC’s holdings in Illumina were worth $566,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Broderick Brian C increased its holdings in shares of Illumina by 0.3% in the 2nd quarter. Broderick Brian C now owns 13,240 shares of the life sciences company’s stock valued at $4,874,000 after purchasing an additional 36 shares in the last quarter. Foresight Wealth Management LLC increased its holdings in Illumina by 4.2% during the 2nd quarter. Foresight Wealth Management LLC now owns 972 shares of the life sciences company’s stock valued at $358,000 after acquiring an additional 39 shares in the last quarter. Bbva USA Bancshares Inc. increased its holdings in Illumina by 2.0% during the 2nd quarter. Bbva USA Bancshares Inc. now owns 2,020 shares of the life sciences company’s stock valued at $743,000 after acquiring an additional 40 shares in the last quarter. Greenleaf Trust increased its holdings in Illumina by 0.6% during the 2nd quarter. Greenleaf Trust now owns 6,691 shares of the life sciences company’s stock valued at $2,463,000 after acquiring an additional 42 shares in the last quarter. Finally, Bath Savings Trust Co increased its holdings in Illumina by 4.0% during the 3rd quarter. Bath Savings Trust Co now owns 1,105 shares of the life sciences company’s stock valued at $336,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 90.90% of the company’s stock.

Shares of NASDAQ ILMN traded up $4.30 during midday trading on Friday, reaching $302.48. 51,701 shares of the stock were exchanged, compared to its average volume of 1,028,585. The company has a market capitalization of $42.39 billion, a P/E ratio of 53.02, a P/E/G ratio of 2.87 and a beta of 1.07. Illumina, Inc. has a 52-week low of $263.30 and a 52-week high of $380.76. The company has a current ratio of 6.79, a quick ratio of 6.10 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average price of $291.13 and a 200-day moving average price of $312.97.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Monday, July 29th. The life sciences company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.03. Illumina had a net margin of 27.56% and a return on equity of 21.73%. The business had revenue of $838.00 million during the quarter, compared to the consensus estimate of $835.12 million. During the same period in the previous year, the firm posted $1.43 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, analysts forecast that Illumina, Inc. will post 6.04 earnings per share for the current year.

In related news, SVP Charles Dadswell sold 124 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $300.00, for a total value of $37,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Oene Mark Van sold 625 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $304.84, for a total transaction of $190,525.00. Following the completion of the sale, the senior vice president now directly owns 14,209 shares in the company, valued at $4,331,471.56. The disclosure for this sale can be found here. Insiders sold 47,099 shares of company stock worth $13,897,460 over the last three months. Corporate insiders own 0.38% of the company’s stock.

ILMN has been the subject of several recent research reports. Canaccord Genuity downgraded shares of Illumina from a “buy” rating to a “hold” rating and dropped their target price for the company from $330.00 to $300.00 in a report on Tuesday, July 30th. ValuEngine upgraded shares of Illumina from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Deutsche Bank dropped their target price on shares of Illumina from $290.00 to $280.00 and set a “hold” rating for the company in a report on Friday, July 12th. UBS Group raised their target price on shares of Illumina from $350.00 to $355.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Cowen dropped their target price on shares of Illumina from $380.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $330.92.

About Illumina

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 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 enables the detection of known genetic markers on a single array.

Further Reading: Sell-Side Analysts

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Institutional Ownership by Quarter for Illumina (NASDAQ:ILMN)

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