iA Global Asset Management Inc. trimmed its position in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 84.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,157 shares of the life sciences company's stock after selling 32,865 shares during the quarter. iA Global Asset Management Inc.'s holdings in Illumina were worth $823,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in ILMN. Magnetar Financial LLC purchased a new position in shares of Illumina during the fourth quarter worth about $2,931,000. Royal London Asset Management Ltd. grew its stake in shares of Illumina by 3.2% during the 4th quarter. Royal London Asset Management Ltd. now owns 67,155 shares of the life sciences company's stock worth $8,974,000 after purchasing an additional 2,073 shares during the period. Chesapeake Capital Corp IL acquired a new stake in shares of Illumina in the 4th quarter worth approximately $448,000. Vinva Investment Management Ltd increased its position in shares of Illumina by 17.2% in the fourth quarter. Vinva Investment Management Ltd now owns 7,735 shares of the life sciences company's stock valued at $1,033,000 after buying an additional 1,135 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Illumina by 6.0% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 283,175 shares of the life sciences company's stock valued at $37,841,000 after purchasing an additional 16,055 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.
Illumina Stock Performance
Shares of NASDAQ ILMN traded down $0.55 during midday trading on Thursday, hitting $82.28. The company's stock had a trading volume of 1,812,730 shares, compared to its average volume of 2,106,132. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. Illumina, Inc. has a 1-year low of $80.18 and a 1-year high of $156.66. The firm's fifty day moving average price is $105.03 and its 200-day moving average price is $127.40. The firm has a market cap of $13.03 billion, a P/E ratio of -10.71, a P/E/G ratio of 1.60 and a beta of 1.17.
Illumina (NASDAQ:ILMN - Get Free Report) last issued its earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. On average, sell-side analysts forecast that Illumina, Inc. will post 4.51 EPS for the current fiscal year.
Wall Street Analyst Weigh In
ILMN has been the topic of several analyst reports. Piper Sandler raised their price target on shares of Illumina from $185.00 to $190.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. 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 report on Tuesday, March 11th. Hsbc Global Res cut Illumina from a "strong-buy" rating to a "hold" rating in a report on Friday, February 28th. Guggenheim dropped their price target on Illumina from $170.00 to $150.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Finally, TD Cowen lowered Illumina from a "buy" rating to a "hold" rating and reduced their price objective for the company from $177.00 to $140.00 in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $140.90.
Get Our Latest Research Report on ILMN
Illumina Profile
(
Free Report)
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.
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