State of Michigan Retirement System Has $5.02 Million Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

State of Michigan Retirement System lowered its position in Illumina, Inc. (NASDAQ:ILMN) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,600 shares of the life sciences company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Illumina were worth $5,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. WCM Investment Management LLC lifted its holdings in 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 buying an additional 867,673 shares during the period. Bank of New York Mellon Corp raised its position in shares of Illumina by 0.8% during the fourth quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company’s stock worth $454,617,000 after acquiring an additional 27,618 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Illumina by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company’s stock worth $354,933,000 after acquiring an additional 48,018 shares during the period. Primecap Management Co. CA boosted its holdings in Illumina by 3.6% in the third quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company’s stock valued at $328,158,000 after acquiring an additional 87,599 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position 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 valued at $282,735,000 after purchasing an additional 625,245 shares during the period. Institutional investors own 89.42% of the company’s stock.

Illumina Stock Performance

Shares of Illumina stock opened at $84.65 on Friday. Illumina, Inc. has a 52 week low of $80.18 and a 52 week high of $156.66. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average price of $119.36 and a 200-day moving average price of $131.84. The company has a market cap of $13.41 billion, a PE ratio of -11.02, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 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%. 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 have recently issued reports on ILMN shares. Piper Sandler boosted their price target on shares of Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Hsbc Global Res lowered shares of Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Barclays downgraded Illumina from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $130.00 to $100.00 in a report on Monday, February 10th. HSBC downgraded Illumina from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Friday, February 28th. Finally, Robert W. Baird decreased their target price on Illumina from $127.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday. One 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. According to data from MarketBeat.com, Illumina presently has a consensus rating of “Moderate Buy” and an average target price of $149.25.

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.