Westpac Banking Corp Sells 4,957 Shares of Illumina, Inc. (NASDAQ:ILMN)

Westpac Banking Corp decreased its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 59.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,358 shares of the life sciences company's stock after selling 4,957 shares during the quarter. Westpac Banking Corp's holdings in Illumina were worth $449,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Illumina in the 4th quarter valued at about $228,714,000. WCM Investment Management LLC grew its stake in shares of Illumina by 26.6% during the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company's stock worth $551,625,000 after acquiring an additional 867,673 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Illumina by 245.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,182,454 shares of the life sciences company's stock valued at $158,011,000 after purchasing an additional 840,423 shares during the last quarter. ARK Investment Management LLC bought a new stake in shares of Illumina in the fourth quarter worth $91,714,000. Finally, AKO Capital LLP acquired a new position in Illumina during the fourth quarter worth $66,185,000. 89.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ILMN shares. Citigroup decreased their price objective on Illumina from $90.00 to $85.00 and set a "neutral" rating for the company in a report on Monday. Morgan Stanley dropped their price objective on Illumina from $150.00 to $136.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. Robert W. Baird cut their price objective on Illumina from $127.00 to $90.00 and set a "neutral" rating for the company in a report on Wednesday, March 5th. HSBC downgraded shares of Illumina from a "buy" rating to a "hold" rating and set a $100.00 target price on the stock. in a report on Friday, February 28th. Finally, Barclays dropped their target price on shares of Illumina from $100.00 to $77.00 and set an "underweight" rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $138.70.

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Illumina Price Performance

Shares of NASDAQ:ILMN traded down $6.01 during midday trading on Thursday, hitting $70.29. The stock had a trading volume of 880,562 shares, compared to its average volume of 2,248,552. The company's 50-day moving average price is $90.77 and its 200-day moving average price is $123.08. The company has a market capitalization of $11.13 billion, a P/E ratio of -9.16, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38. 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, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66.

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