Illumina, Inc. (NASDAQ:ILMN) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 25.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 628 shares of the life sciences company’s stock after selling 215 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Illumina were worth $82,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. UMB Bank n.a. boosted its position in shares of Illumina by 7.0% during the 2nd quarter. UMB Bank n.a. now owns 1,341 shares of the life sciences company’s stock worth $140,000 after acquiring an additional 88 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Illumina by 0.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 32,818 shares of the life sciences company’s stock valued at $4,507,000 after purchasing an additional 114 shares during the period. Institute for Wealth Management LLC. boosted its position in shares of Illumina by 4.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 2,728 shares of the life sciences company’s stock valued at $285,000 after purchasing an additional 119 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in shares of Illumina by 65.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after purchasing an additional 168 shares during the period. Finally, Empirical Finance LLC boosted its position in shares of Illumina by 3.6% in the 1st quarter. Empirical Finance LLC now owns 5,602 shares of the life sciences company’s stock valued at $769,000 after purchasing an additional 193 shares during the period. 89.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ILMN shares. StockNews.com started coverage on Illumina in a research report on Thursday, August 29th. They issued a “buy” rating for the company. Daiwa Capital Markets raised Illumina from a “neutral” rating to a “buy” rating and upped their price objective for the company from $120.00 to $154.00 in a research note on Friday, August 16th. Scotiabank reduced their price objective on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 15th. Hsbc Global Res raised Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price objective for the company in a research note on Thursday, October 17th. Finally, Leerink Partners upped their price objective on Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $155.50.

Illumina Trading Up 2.5 %

Shares of ILMN opened at $153.49 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $24.45 billion, a P/E ratio of -8.02 and a beta of 1.13. The stock’s fifty day simple moving average is $136.39 and its 200 day simple moving average is $122.65. Illumina, Inc. has a twelve month low of $89.00 and a twelve month high of $155.37.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.12 by $0.24. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company posted $0.32 earnings per share. The firm’s revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Illumina, Inc. will post 3.63 earnings per share 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.