Prudential Financial Inc. Cuts Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Prudential Financial Inc. lessened its position in Illumina, Inc. (NASDAQ:ILMN) by 74.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,440 shares of the life sciences company’s stock after selling 309,556 shares during the quarter. Prudential Financial Inc. owned about 0.07% of Illumina worth $13,956,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ILMN. Versant Capital Management Inc lifted its holdings in Illumina by 153.7% in the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after purchasing an additional 146 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Illumina in the fourth quarter valued at about $32,000. Assetmark Inc. lifted its stake in shares of Illumina by 954.8% in the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock worth $44,000 after buying an additional 296 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Illumina during the fourth quarter worth about $45,000. Finally, Lee Danner & Bass Inc. purchased a new stake in Illumina during the 4th quarter valued at about $48,000. 89.42% of the stock is owned by institutional investors and hedge funds.

Illumina Price Performance

ILMN opened at $82.28 on Friday. The firm has a market cap of $13.03 billion, a price-to-earnings ratio of -10.71, a PEG ratio of 1.60 and a beta of 1.17. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The stock’s 50-day moving average price is $103.93 and its 200 day moving average price is $127.08. Illumina, Inc. has a 12-month low of $80.18 and a 12-month high of $156.66.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. As a group, sell-side analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current year.

Wall Street Analyst Weigh In

ILMN has been the topic of a number of research reports. 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. Royal Bank of Canada lowered their price objective on Illumina from $247.00 to $128.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Piper Sandler raised 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. Stephens reiterated an “overweight” rating and set a $156.00 price target on shares of Illumina in a report on Tuesday, March 11th. Finally, HSBC lowered shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a report on Friday, February 28th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illumina currently has an average rating of “Moderate Buy” and an average target price of $140.90.

Illumina Company Profile

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.