Principal Financial Group Inc. Reduces Position in Illumina, Inc. (NASDAQ:ILMN)

Principal Financial Group Inc. lessened its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 9.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 487,042 shares of the life sciences company’s stock after selling 48,857 shares during the period. Principal Financial Group Inc. owned approximately 0.31% of Illumina worth $63,515,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its position in Illumina by 426.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock worth $2,123,000 after purchasing an additional 12,521 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Illumina during the 1st quarter valued at approximately $4,527,000. US Bancorp DE lifted its stake in Illumina by 33.9% during the 1st quarter. US Bancorp DE now owns 31,600 shares of the life sciences company’s stock valued at $4,339,000 after acquiring an additional 8,001 shares during the period. Cetera Advisors LLC acquired a new stake in Illumina during the 1st quarter valued at approximately $610,000. Finally, Weybosset Research & Management LLC lifted its stake in Illumina by 92.0% during the 3rd quarter. Weybosset Research & Management LLC now owns 18,052 shares of the life sciences company’s stock valued at $2,354,000 after acquiring an additional 8,650 shares during the period. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Price Performance

Illumina stock opened at $151.09 on Friday. Illumina, Inc. has a 52-week low of $89.00 and a 52-week high of $156.66. The firm has a market capitalization of $24.07 billion, a price-to-earnings ratio of -15.17 and a beta of 1.13. The company has a fifty day simple moving average of $138.09 and a 200-day simple moving average of $123.56. The company has a quick ratio of 0.86, a current ratio of 2.43 and a debt-to-equity ratio of 0.94.

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

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Barclays lifted their price objective on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada boosted their target price on shares of Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Piper Sandler decreased their target price on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Finally, Scotiabank decreased their target price on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Illumina presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.18.

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.