Corebridge Financial Inc. Reduces Stake in Illumina, Inc. (NASDAQ:ILMN)

Corebridge Financial Inc. cut its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 9.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 179,465 shares of the life sciences company’s stock after selling 19,330 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Illumina worth $23,982,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. WCM Investment Management LLC increased its stake in shares of Illumina by 26.6% in the fourth quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company’s stock worth $551,625,000 after acquiring an additional 867,673 shares during the period. Bank of New York Mellon Corp boosted its holdings in Illumina by 0.8% in the fourth quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company’s stock valued at $454,617,000 after purchasing an additional 27,618 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Illumina by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company’s stock valued at $354,933,000 after buying an additional 48,018 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Illumina by 40.5% in 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 buying an additional 625,245 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Illumina by 4.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,260,137 shares of the life sciences company’s stock worth $164,334,000 after buying an additional 54,319 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ILMN. Citigroup reduced their price target on Illumina from $130.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Barclays reaffirmed an “underweight” rating on shares of Illumina in a report on Tuesday, March 11th. Hsbc Global Res downgraded shares of Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. HSBC cut 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. Finally, Royal Bank of Canada dropped their target price on Illumina from $247.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, ten have issued 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 a consensus rating of “Moderate Buy” and an average target price of $140.90.

Illumina Stock Up 3.4 %

NASDAQ ILMN opened at $87.66 on Monday. The business has a fifty day moving average price of $108.20 and a 200 day moving average price of $128.26. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. The company has a market cap of $13.89 billion, a P/E ratio of -11.41, a P/E/G ratio of 1.60 and a beta of 1.17. Illumina, Inc. has a one year low of $80.18 and a one year high of $156.66.

Illumina (NASDAQ:ILMN) last released 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 positive return on equity of 13.37% and a negative net margin of 27.95%. Research analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

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.