Truist Financial Corp Reduces Stake in Illumina, Inc. (NASDAQ:ILMN)

Truist Financial Corp lowered its holdings in Illumina, Inc. (NASDAQ:ILMN) by 5.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 50,725 shares of the life sciences company’s stock after selling 2,989 shares during the quarter. Truist Financial Corp’s holdings in Illumina were worth $6,778,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. WCM Investment Management LLC increased its holdings in shares of Illumina by 26.6% in the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company’s stock valued at $551,625,000 after acquiring an additional 867,673 shares during the last quarter. Geode Capital Management LLC grew its stake in Illumina by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company’s stock worth $354,933,000 after buying an additional 48,018 shares during the last quarter. Primecap Management Co. CA grew its stake in Illumina by 3.6% during the 3rd quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company’s stock worth $328,158,000 after buying an additional 87,599 shares during the last quarter. Janus Henderson Group PLC grew its stake in Illumina by 40.5% during the 3rd quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock worth $282,735,000 after buying an additional 625,245 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Illumina by 4.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,260,137 shares of the life sciences company’s stock worth $164,334,000 after buying an additional 54,319 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Stock Down 3.1 %

ILMN opened at $94.20 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The business has a 50 day simple moving average of $127.98 and a 200-day simple moving average of $134.13. The stock has a market capitalization of $14.92 billion, a P/E ratio of -12.27, a P/E/G ratio of 1.60 and a beta of 1.10. Illumina, Inc. has a 12 month low of $93.50 and a 12 month high of $156.66.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing the consensus estimate 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, equities analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on ILMN shares. TD Cowen downgraded Illumina from a “buy” rating to a “hold” rating and dropped their price target for the stock from $177.00 to $140.00 in a research note on Friday, February 7th. UBS Group raised their price target on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Canaccord Genuity Group dropped their price target on Illumina from $145.00 to $135.00 and set a “hold” rating on the stock in a research note on Friday, February 7th. Barclays downgraded Illumina from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $130.00 to $100.00 in a research note on Monday, February 10th. Finally, Royal Bank of Canada dropped their price target on Illumina from $250.00 to $247.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $159.45.

About Illumina

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.