Westpac Banking Corp Decreases Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Westpac Banking Corp trimmed its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 59.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,358 shares of the life sciences company’s stock after selling 4,957 shares during the quarter. Westpac Banking Corp’s holdings in Illumina were worth $449,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ILMN. Bleakley Financial Group LLC purchased a new position in shares of Illumina during the 4th quarter worth about $751,000. Zacks Investment Management purchased a new position in shares of Illumina during the third quarter valued at approximately $2,924,000. Van ECK Associates Corp grew its stake in shares of Illumina by 17.5% during the fourth quarter. Van ECK Associates Corp now owns 152,265 shares of the life sciences company’s stock valued at $20,347,000 after buying an additional 22,718 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Illumina in the fourth quarter worth approximately $1,464,000. Finally, Allworth Financial LP lifted its stake in shares of Illumina by 720.7% during the 4th quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company’s stock worth $1,001,000 after acquiring an additional 6,263 shares during the last quarter. Institutional investors own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on ILMN shares. Robert W. Baird cut their price objective on Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. TD Cowen downgraded shares of Illumina from a “buy” rating to a “hold” rating and reduced their price target for the stock from $177.00 to $140.00 in a research note on Friday, February 7th. Royal Bank of Canada decreased their price objective on shares of Illumina from $247.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, March 12th. 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 research note on Monday, February 10th. Finally, HSBC downgraded shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research note 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.90.

Illumina Stock Performance

Shares of ILMN stock opened at $74.16 on Friday. 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 company has a market cap of $11.75 billion, a PE ratio of -9.66, a PEG ratio of 1.60 and a beta of 1.38. Illumina, Inc. has a 12-month low of $70.64 and a 12-month high of $156.66. The business’s fifty day simple moving average is $96.82 and its 200-day simple moving average is $125.10.

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%. Analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

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.