Corebridge Financial Inc. Sells 19,330 Shares of Illumina, Inc. (NASDAQ:ILMN)

Corebridge Financial Inc. reduced its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 9.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 179,465 shares of the life sciences company's stock after selling 19,330 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Illumina worth $23,982,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ILMN. Empowered Funds LLC increased its position in shares of Illumina by 1.7% during the 3rd quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company's stock valued at $516,000 after purchasing an additional 66 shares during the last quarter. Caprock Group LLC boosted its stake in Illumina by 3.0% in the third quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company's stock worth $376,000 after buying an additional 83 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Illumina during the third quarter valued at approximately $710,000. Commerce Bank raised its stake in shares of Illumina by 3.5% during the third quarter. Commerce Bank now owns 6,376 shares of the life sciences company's stock worth $831,000 after acquiring an additional 217 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Illumina by 161.6% during the third quarter. Intech Investment Management LLC now owns 7,845 shares of the life sciences company's stock worth $1,023,000 after acquiring an additional 4,846 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts recently commented on ILMN shares. Stephens reaffirmed an "overweight" rating and set a $156.00 target price on shares of Illumina in a report on Tuesday, March 11th. TD Cowen downgraded Illumina from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $177.00 to $140.00 in a report on Friday, February 7th. Citigroup dropped their target price on Illumina from $130.00 to $90.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Royal Bank of Canada decreased their price target on Illumina from $247.00 to $128.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. Finally, Canaccord Genuity Group dropped their price objective on Illumina from $135.00 to $115.00 and set a "hold" rating for the company in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $140.90.

Illumina Stock Performance

Shares of NASDAQ ILMN traded down $2.28 during trading on Friday, reaching $80.00. 1,526,373 shares of the company traded hands, compared to its average volume of 2,212,008. The firm has a 50 day simple moving average of $102.80 and a 200-day simple moving average of $126.79. Illumina, Inc. has a 52-week low of $79.30 and a 52-week high of $156.66. The stock has a market capitalization of $12.67 billion, a PE ratio of -10.42, a P/E/G ratio of 1.60 and a beta of 1.17. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. Equities research analysts anticipate that Illumina, Inc. will post 4.51 earnings per share 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.