Illumina, Inc. $ILMN Position Reduced by M&G PLC

M&G PLC lowered its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 391,322 shares of the life sciences company’s stock after selling 12,886 shares during the quarter. M&G PLC’s holdings in Illumina were worth $107,222,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Baker Tilly Wealth Management LLC raised its holdings in shares of Illumina by 3.3% in the third quarter. Baker Tilly Wealth Management LLC now owns 1,297 shares of the life sciences company’s stock valued at $355,000 after purchasing an additional 42 shares during the last quarter. Ashton Thomas Securities LLC grew its position in Illumina by 3.3% in the third quarter. Ashton Thomas Securities LLC now owns 1,348 shares of the life sciences company’s stock valued at $369,000 after purchasing an additional 43 shares in the last quarter. Elevation Wealth Partners LLC grew its position in Illumina by 19.7% in the third quarter. Elevation Wealth Partners LLC now owns 292 shares of the life sciences company’s stock valued at $80,000 after purchasing an additional 48 shares in the last quarter. Evergreen Capital Management LLC grew its position in Illumina by 0.5% in the third quarter. Evergreen Capital Management LLC now owns 9,474 shares of the life sciences company’s stock valued at $2,593,000 after purchasing an additional 50 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in Illumina by 2.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 2,506 shares of the life sciences company’s stock valued at $686,000 after buying an additional 54 shares during the last quarter. 89.42% of the stock is owned by institutional investors.

Insider Activity at Illumina

In other news, Director Keith Meister sold 299,336 shares of Illumina stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $217.96, for a total value of $65,243,274.56. Following the completion of the transaction, the director owned 1,409,851 shares of the company’s stock, valued at $307,291,123.96. This trade represents a 17.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 1,601,541 shares of company stock valued at $354,755,291. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Piper Sandler boosted their price target on shares of Illumina from $225.00 to $305.00 and gave the stock an “overweight” rating in a research report on Monday, September 28th. Argus raised their price objective on Illumina from $180.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Sanford C. Bernstein restated a “market perform” rating and issued a $215.00 price objective on shares of Illumina in a report on Friday, July 31st. UBS Group raised Illumina from a “neutral” rating to a “buy” rating and lifted their target price for the company from $135.00 to $260.00 in a research report on Wednesday, September 9th. Finally, Zacks Research lowered Illumina from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 1st. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $244.24.

Illumina Trading Up 3.6%

NASDAQ ILMN opened at $220.78 on Tuesday. Illumina, Inc. has a 12 month low of $112.65 and a 12 month high of $309.35. The company has a current ratio of 2.63, a quick ratio of 2.05 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average of $249.25 and a 200-day moving average of $178.46. The company has a market cap of $33.38 billion, a PE ratio of 38.00, a PEG ratio of 3.08 and a beta of 1.46.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, October 29th. The life sciences company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.26. Illumina had a net margin of 19.72% and a return on equity of 28.38%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the company earned $1.34 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts anticipate that Illumina, Inc. will post 5.43 EPS for the current fiscal year.

Illumina Profile

Illumina, Inc develops and supplies technologies used to analyze genetic variation and biological function. Its products include next-generation sequencing systems, microarrays, reagents and consumables, as well as software and related services that help customers generate and interpret genomic data.

The company’s technology is used in applications such as medical and population research, genetic testing, drug development, and agricultural and environmental studies. Its customers include academic and government research institutions, hospitals and clinical laboratories, biotechnology and pharmaceutical companies, and other organizations around the world.

Founded in 1998 and headquartered in San Diego, California, Illumina serves customers internationally.