Azzad Asset Management Inc. ADV Sells 112 Shares of Illumina, Inc. (NASDAQ:ILMN)

Azzad Asset Management Inc. ADV lowered its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,857 shares of the life sciences company’s stock after selling 112 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Illumina were worth $530,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Gotham Asset Management LLC grew its holdings in shares of Illumina by 150.9% in the 3rd quarter. Gotham Asset Management LLC now owns 10,649 shares of the life sciences company’s stock valued at $1,462,000 after buying an additional 6,404 shares during the period. Glenmede Trust Co. NA grew its stake in Illumina by 1.5% in the third quarter. Glenmede Trust Co. NA now owns 44,462 shares of the life sciences company’s stock valued at $6,104,000 after acquiring an additional 660 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Illumina by 64.4% in the third quarter. Advisors Asset Management Inc. now owns 2,562 shares of the life sciences company’s stock worth $352,000 after acquiring an additional 1,004 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Illumina by 13.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 922,446 shares of the life sciences company’s stock valued at $126,629,000 after purchasing an additional 110,138 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Illumina by 25.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 97,407 shares of the life sciences company’s stock valued at $13,372,000 after purchasing an additional 19,900 shares during the period. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Stock Performance

Shares of NASDAQ:ILMN traded down $0.13 on Wednesday, reaching $105.38. 452,455 shares of the company’s stock were exchanged, compared to its average volume of 2,182,589. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. Illumina, Inc. has a twelve month low of $89.00 and a twelve month high of $195.64. The company has a fifty day moving average of $110.95 and a 200-day moving average of $126.99. The company has a market capitalization of $16.79 billion, a price-to-earnings ratio of -13.06 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.05. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm posted $0.08 EPS. Illumina’s quarterly revenue was down 1.0% on a year-over-year basis. On average, research analysts predict that Illumina, Inc. will post 0.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ILMN. Stephens reaffirmed an “overweight” rating and issued a $170.00 price target on shares of Illumina in a research note on Tuesday, May 7th. OTR Global reaffirmed a “mixed” rating on shares of Illumina in a research report on Wednesday, March 20th. Jefferies Financial Group initiated coverage on Illumina in a report on Monday, June 3rd. They set a “hold” rating and a $115.00 target price for the company. Royal Bank of Canada cut their price target on Illumina from $249.00 to $242.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Scotiabank cut their target price on Illumina from $185.00 to $176.00 and set a “sector outperform” rating on the stock in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $157.62.

Illumina 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.