Prudential Financial Inc. Decreases Stake in Illumina, Inc. (NASDAQ:ILMN)

Prudential Financial Inc. trimmed its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 74.8% during the fourth quarter, Holdings Channel reports. 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.’s holdings in Illumina were worth $13,956,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC raised its holdings in shares of Illumina by 161.6% in the 3rd quarter. Intech Investment Management LLC now owns 7,845 shares of the life sciences company’s stock valued at $1,023,000 after purchasing an additional 4,846 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Illumina by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 657,554 shares of the life sciences company’s stock valued at $85,752,000 after buying an additional 12,731 shares in the last quarter. Cerity Partners LLC lifted its holdings in Illumina by 172.2% during the 3rd quarter. Cerity Partners LLC now owns 24,076 shares of the life sciences company’s stock worth $3,140,000 after buying an additional 15,231 shares during the last quarter. Private Trust Co. NA boosted its position in shares of Illumina by 81.2% during the 3rd quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock worth $62,000 after acquiring an additional 212 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Illumina by 6.1% during the 3rd quarter. Bank of Montreal Can now owns 151,254 shares of the life sciences company’s stock worth $19,681,000 after acquiring an additional 8,730 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Wall Street Analysts Forecast Growth

ILMN has been the topic of several research analyst reports. Royal Bank of Canada cut 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. Barclays reissued an “underweight” rating on shares of Illumina in a report on Tuesday, March 11th. Hsbc Global Res cut shares of Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Morgan Stanley dropped their target price on shares of Illumina from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Finally, TD Cowen cut shares of Illumina from a “buy” rating to a “hold” rating and reduced their price target for the company from $177.00 to $140.00 in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned 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 a consensus rating of “Moderate Buy” and a consensus price target of $140.90.

Illumina Stock Down 0.7 %

ILMN stock opened at $82.28 on Friday. The stock has a market capitalization of $13.03 billion, a PE ratio of -10.71, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. The company has a fifty day moving average of $103.93 and a 200-day moving average of $127.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. Illumina, Inc. has a one year low of $80.18 and a one year high of $156.66.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data 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%. As a group, analysts expect that Illumina, Inc. will post 4.51 EPS for the current 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.