Amundi Has $88.88 Million Stake in Illumina, Inc. (NASDAQ:ILMN)

Amundi lowered its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 38.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 636,281 shares of the life sciences company’s stock after selling 400,093 shares during the period. Amundi’s holdings in Illumina were worth $88,876,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bleakley Financial Group LLC acquired a new position in Illumina during the 4th quarter valued at about $751,000. Zacks Investment Management acquired a new position in Illumina during the 3rd quarter valued at about $2,924,000. Van ECK Associates Corp boosted its stake in shares of Illumina by 17.5% in the 4th quarter. Van ECK Associates Corp now owns 152,265 shares of the life sciences company’s stock worth $20,347,000 after buying an additional 22,718 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Illumina in the 4th quarter worth approximately $1,464,000. Finally, Allworth Financial LP boosted its stake in shares of Illumina by 720.7% in the 4th quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company’s stock worth $1,001,000 after buying an additional 6,263 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Trading Down 1.7 %

Shares of ILMN stock opened at $84.52 on Wednesday. The company’s fifty day simple moving average is $116.45 and its two-hundred day simple moving average is $130.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. Illumina, Inc. has a 1 year low of $80.18 and a 1 year high of $156.66. The stock has a market capitalization of $13.39 billion, a price-to-earnings ratio of -11.01, a PEG ratio of 1.60 and a beta of 1.17.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (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%. As a group, analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Robert W. Baird cut their target price on Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Piper Sandler boosted their target price on Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Barclays downgraded Illumina from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $130.00 to $100.00 in a research note on Monday, February 10th. Canaccord Genuity Group cut their target price on Illumina from $135.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, Citigroup cut their target price on Illumina from $130.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $146.85.

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.