Principal Financial Group Inc. Lowers Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Principal Financial Group Inc. lowered its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 9.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 487,042 shares of the life sciences company's stock after selling 48,857 shares during the quarter. Principal Financial Group Inc. owned 0.31% of Illumina worth $63,515,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Private Advisor Group LLC grew its position in shares of Illumina by 4.8% during the first quarter. Private Advisor Group LLC now owns 4,955 shares of the life sciences company's stock worth $679,000 after purchasing an additional 226 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Illumina by 41.5% during the first quarter. Janney Montgomery Scott LLC now owns 3,070 shares of the life sciences company's stock valued at $422,000 after buying an additional 900 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Illumina in the first quarter worth $645,000. Texas Permanent School Fund Corp boosted its position in shares of Illumina by 0.3% during the first quarter. Texas Permanent School Fund Corp now owns 32,818 shares of the life sciences company's stock worth $4,507,000 after acquiring an additional 114 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in Illumina by 426.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company's stock valued at $2,123,000 after acquiring an additional 12,521 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ILMN has been the topic of several research analyst reports. Leerink Partners boosted their price target on shares of Illumina from $160.00 to $200.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. TD Cowen increased their price target on Illumina from $166.00 to $177.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Piper Sandler reduced their price objective on Illumina from $200.00 to $195.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 13th. Barclays increased their target price on Illumina from $135.00 to $145.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. Finally, Argus raised shares of Illumina from a "hold" rating to a "buy" rating and set a $150.00 target price for the company in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Illumina currently has an average rating of "Moderate Buy" and an average price target of $162.18.

Illumina Trading Down 2.6 %

ILMN stock traded down $4.06 during trading on Friday, hitting $151.09. The company had a trading volume of 2,209,599 shares, compared to its average volume of 1,772,358. Illumina, Inc. has a 52-week low of $89.00 and a 52-week high of $156.66. The company has a 50 day simple moving average of $138.09 and a 200-day simple moving average of $123.55. The firm has a market capitalization of $23.96 billion, a P/E ratio of -15.17 and a beta of 1.13. The company has a quick ratio of 0.86, a current ratio of 2.43 and a debt-to-equity ratio of 0.94.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm posted $0.33 earnings per share. The company's revenue was down 3.5% on a year-over-year basis. As a group, research analysts forecast that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.

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.