Truist Financial Corp Decreases Position in Illumina, Inc. (NASDAQ:ILMN)

Truist Financial Corp reduced its stake in Illumina, Inc. (NASDAQ:ILMN) by 5.6% during the 4th quarter, Holdings Channel reports. The fund owned 50,725 shares of the life sciences company’s stock after selling 2,989 shares during the period. Truist Financial Corp’s holdings in Illumina were worth $6,778,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Empowered Funds LLC lifted its position in shares of Illumina by 1.7% in the third quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock valued at $516,000 after acquiring an additional 66 shares in the last quarter. Caprock Group LLC lifted its position in Illumina by 3.0% during the third quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock worth $376,000 after buying an additional 83 shares during the period. Integrated Advisors Network LLC lifted its position in Illumina by 2.0% during the third quarter. Integrated Advisors Network LLC now owns 4,484 shares of the life sciences company’s stock worth $585,000 after buying an additional 90 shares during the period. Stephens Inc. AR lifted its position in Illumina by 1.4% during the fourth quarter. Stephens Inc. AR now owns 6,623 shares of the life sciences company’s stock worth $885,000 after buying an additional 90 shares during the period. Finally, Moors & Cabot Inc. lifted its position in Illumina by 1.7% during the third quarter. Moors & Cabot Inc. now owns 5,818 shares of the life sciences company’s stock worth $759,000 after buying an additional 95 shares during the period. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Price Performance

NASDAQ ILMN opened at $94.20 on Friday. Illumina, Inc. has a fifty-two week low of $93.50 and a fifty-two week high of $156.66. The stock’s 50-day moving average is $127.98 and its two-hundred day moving average is $134.13. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.77 and a quick ratio of 1.42. The firm has a market cap of $14.92 billion, a P/E ratio of -12.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. On average, analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ILMN has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. UBS Group increased their target price on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Barclays downgraded Illumina from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $130.00 to $100.00 in a report on Monday, February 10th. Piper Sandler raised their price target on Illumina from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, TD Cowen downgraded Illumina from a “buy” rating to a “hold” rating and cut their price target for the stock from $177.00 to $140.00 in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $159.45.

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.