Illumina, Inc. (NASDAQ:ILMN) Shares Sold by Edgewood Management LLC

Edgewood Management LLC lessened its stake in Illumina, Inc. (NASDAQ:ILMN) by 2.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,721 shares of the life sciences company’s stock after selling 400 shares during the quarter. Edgewood Management LLC’s holdings in Illumina were worth $2,101,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its position in shares of Illumina by 0.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 348,843 shares of the life sciences company’s stock worth $46,616,000 after purchasing an additional 1,955 shares during the last quarter. Aviva PLC increased its stake in Illumina by 68.0% during the 4th quarter. Aviva PLC now owns 95,560 shares of the life sciences company’s stock worth $12,770,000 after buying an additional 38,678 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Illumina by 110.6% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 7,471 shares of the life sciences company’s stock valued at $998,000 after acquiring an additional 3,924 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Illumina during the fourth quarter valued at approximately $6,065,000. Finally, Thoroughbred Financial Services LLC lifted its position in shares of Illumina by 65.3% in the fourth quarter. Thoroughbred Financial Services LLC now owns 2,662 shares of the life sciences company’s stock valued at $355,000 after acquiring an additional 1,052 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Trading Down 3.0 %

Shares of ILMN stock opened at $74.16 on Friday. Illumina, Inc. has a 1-year low of $70.64 and a 1-year high of $156.66. The firm has a market cap of $11.75 billion, a PE ratio of -9.66, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38. The company has a 50-day moving average of $96.82 and a two-hundred day moving average of $125.06. 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 (NASDAQ:ILMN) last posted its quarterly earnings data 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%. On average, analysts predict that Illumina, Inc. will post 4.51 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ILMN. Hsbc Global Res downgraded Illumina from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Piper Sandler upped their target price on shares of Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Royal Bank of Canada decreased their price target on shares of Illumina from $247.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Morgan Stanley dropped their price objective on shares of Illumina from $150.00 to $136.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Finally, Robert W. Baird decreased their target price on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Illumina presently has an average rating of “Moderate Buy” and an average price target of $140.90.

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.