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

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Toronto Dominion Bank reduced its stake in Illumina, Inc. (NASDAQ:ILMN) by 97.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,407 shares of the life sciences company’s stock after selling 110,557 shares during the quarter. Toronto Dominion Bank’s holdings in Illumina were worth $37,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Carroll Financial Associates Inc. purchased a new stake in Illumina in the 2nd quarter valued at $32,000. CX Institutional raised its position in Illumina by 60.3% in the 2nd quarter. CX Institutional now owns 93 shares of the life sciences company’s stock valued at $34,000 after buying an additional 35 shares during the last quarter. Creative Financial Designs Inc. ADV purchased a new stake in Illumina in the 2nd quarter valued at $36,000. Valeo Financial Advisors LLC raised its position in Illumina by 49.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 97 shares of the life sciences company’s stock valued at $36,000 after buying an additional 32 shares during the last quarter. Finally, Bainco International Investors purchased a new stake in Illumina in the 1st quarter valued at $33,000. 89.86% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on the company. Piper Sandler lowered Illumina from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $356.00 to $340.00 in a research report on Friday, August 7th. TheStreet lowered Illumina from a “b” rating to a “c+” rating in a research report on Thursday, August 6th. SVB Leerink decreased their target price on Illumina from $370.00 to $360.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Cowen raised their target price on Illumina from $275.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, Citigroup lowered Illumina from a “buy” rating to a “neutral” rating and raised their target price for the company from $250.00 to $320.00 in a research report on Friday, April 24th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $341.29.

NASDAQ ILMN traded up $0.81 during trading hours on Thursday, hitting $354.16. The company had a trading volume of 21,760 shares, compared to its average volume of 949,107. Illumina, Inc. has a 52 week low of $196.78 and a 52 week high of $404.20. The firm has a 50 day simple moving average of $373.89 and a 200 day simple moving average of $323.25. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.37 and a current ratio of 3.76. The firm has a market capitalization of $51.99 billion, a price-to-earnings ratio of 75.62, a PEG ratio of 11.59 and a beta of 0.99.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, August 6th. The life sciences company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). Illumina had a return on equity of 19.13% and a net margin of 20.67%. The company had revenue of $633.00 million during the quarter, compared to the consensus estimate of $682.07 million. During the same quarter in the prior year, the business earned $1.35 EPS. The firm’s revenue for the quarter was down 24.5% compared to the same quarter last year. On average, research analysts forecast that Illumina, Inc. will post 4.39 earnings per share for the current year.

In other news, SVP Robert P. Ragusa sold 5,000 shares of Illumina stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $340.76, for a total transaction of $1,703,800.00. Following the completion of the sale, the senior vice president now owns 17,020 shares in the company, valued at approximately $5,799,735.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Aimee L. Hoyt sold 191 shares of Illumina stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $350.94, for a total value of $67,029.54. Following the sale, the senior vice president now owns 3,498 shares of the company’s stock, valued at approximately $1,227,588.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,724 shares of company stock valued at $9,491,082. 0.38% of the stock is owned by corporate insiders.

Illumina Profile

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: Straddles

Institutional Ownership by Quarter for Illumina (NASDAQ:ILMN)

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