Truist Financial Corp Increases Stake in Illumina, Inc. (NASDAQ:ILMN)

Truist Financial Corp boosted its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 4.3% during the 4th quarter, Holdings Channel reports. The fund owned 60,101 shares of the life sciences company’s stock after buying an additional 2,462 shares during the period. Truist Financial Corp’s holdings in Illumina were worth $8,369,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its stake in Illumina by 43.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 7,398 shares of the life sciences company’s stock worth $1,016,000 after buying an additional 2,258 shares in the last quarter. Raymond James & Associates raised its position in shares of Illumina by 13.9% in the 3rd quarter. Raymond James & Associates now owns 381,233 shares of the life sciences company’s stock worth $52,336,000 after acquiring an additional 46,444 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Illumina by 8.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,275 shares of the life sciences company’s stock worth $724,000 after purchasing an additional 410 shares during the last quarter. Independent Advisor Alliance boosted its position in Illumina by 8.6% during the third quarter. Independent Advisor Alliance now owns 1,595 shares of the life sciences company’s stock valued at $219,000 after purchasing an additional 126 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in Illumina by 4.4% in the third quarter. Brown Advisory Inc. now owns 4,140 shares of the life sciences company’s stock valued at $568,000 after purchasing an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

ILMN has been the subject of several analyst reports. OTR Global reissued a “mixed” rating on shares of Illumina in a research report on Wednesday, March 20th. Barclays increased their target price on shares of Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, April 10th. StockNews.com cut shares of Illumina from a “buy” rating to a “hold” rating in a research report on Friday. HSBC cut shares of Illumina from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Finally, Robert W. Baird increased their target price on shares of Illumina from $125.00 to $128.00 and gave the company a “neutral” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $165.10.

Insider Transactions at Illumina

In other Illumina news, CEO Jacob Thaysen acquired 7,330 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average price of $135.29 per share, for a total transaction of $991,675.70. Following the completion of the purchase, the chief executive officer now directly owns 14,861 shares of the company’s stock, valued at $2,010,544.69. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.

Illumina Trading Down 4.9 %

Shares of Illumina stock opened at $117.93 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26. Illumina, Inc. has a 12-month low of $89.00 and a 12-month high of $213.91. The firm has a market capitalization of $18.78 billion, a price-to-earnings ratio of -16.07 and a beta of 1.20. The firm’s 50 day simple moving average is $130.33 and its two-hundred day simple moving average is $127.11.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Illumina had a negative net margin of 25.78% and a positive return on equity of 2.20%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 earnings per share. Analysts predict that Illumina, Inc. will post 0.91 EPS for the current year.

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.