Burns Matteson Capital Management LLC Sells 159 Shares of Illumina, Inc. (NASDAQ:ILMN)

Burns Matteson Capital Management LLC reduced its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 7.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,122 shares of the life sciences company’s stock after selling 159 shares during the period. Burns Matteson Capital Management LLC’s holdings in Illumina were worth $221,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its stake in shares of Illumina by 426.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock worth $2,123,000 after acquiring an additional 12,521 shares during the last quarter. Findlay Park Partners LLP acquired a new stake in Illumina in the 1st quarter worth $100,120,000. abrdn plc increased its holdings in shares of Illumina by 764.9% during the 4th quarter. abrdn plc now owns 339,023 shares of the life sciences company’s stock worth $47,206,000 after purchasing an additional 299,827 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Illumina during the first quarter valued at about $4,527,000. Finally, Norges Bank bought a new stake in shares of Illumina in the fourth quarter valued at about $264,636,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Trading Up 0.8 %

ILMN traded up $0.89 during mid-day trading on Tuesday, reaching $116.36. The stock had a trading volume of 1,766,233 shares, compared to its average volume of 2,108,976. The stock has a market capitalization of $18.54 billion, a P/E ratio of -14.28 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 company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.75. The firm’s fifty day simple moving average is $111.47 and its two-hundred day simple moving average is $123.39.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Barclays upped their price target on Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a report on Wednesday, April 10th. Robert W. Baird lifted their price target on shares of Illumina from $125.00 to $128.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Scotiabank dropped their price objective on shares of Illumina from $185.00 to $176.00 and set a “sector outperform” rating for the company in a research note on Monday, May 6th. StockNews.com initiated coverage on shares of Illumina in a research report on Sunday, June 30th. They set a “buy” rating on the stock. Finally, Evercore ISI dropped their price target on shares of Illumina from $195.00 to $175.00 and set an “outperform” rating for the company in a research report on Tuesday, June 11th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $158.57.

About Illumina

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.