Illumina, Inc. (NASDAQ:ILMN) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 9.1% during the third quarter, Holdings Channel reports. The fund owned 487,042 shares of the life sciences company’s stock after selling 48,857 shares during the quarter. Principal Financial Group Inc.’s holdings in Illumina were worth $63,515,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Illumina by 66.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 11,973 shares of the life sciences company’s stock worth $1,582,000 after purchasing an additional 4,797 shares during the last quarter. Tidal Investments LLC boosted its stake in Illumina by 38.0% in the 3rd quarter. Tidal Investments LLC now owns 4,449 shares of the life sciences company’s stock worth $580,000 after buying an additional 1,226 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Illumina in the 3rd quarter valued at about $772,000. Sanctuary Advisors LLC increased its stake in shares of Illumina by 2.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 22,778 shares of the life sciences company’s stock valued at $3,192,000 after acquiring an additional 450 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Illumina by 3.4% during the 3rd quarter. M&T Bank Corp now owns 54,378 shares of the life sciences company’s stock worth $7,091,000 after acquiring an additional 1,769 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Stock Performance

NASDAQ:ILMN opened at $136.02 on Friday. The firm has a 50-day moving average of $143.91 and a two-hundred day moving average of $129.69. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The stock has a market cap of $21.57 billion, a P/E ratio of -13.66 and a beta of 1.11. Illumina, Inc. has a 1-year low of $100.08 and a 1-year high of $156.66.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the business posted $0.33 earnings per share. Illumina’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, research analysts expect that Illumina, Inc. will post 4.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ILMN has been the subject of several research analyst reports. Argus raised shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Wednesday, August 28th. UBS Group upped their price objective on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Stephens lifted their target price on Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Leerink Partners upped their price target on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Barclays lifted their price objective on Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $165.95.

Illumina 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.