Allspring Global Investments Holdings LLC Cuts Stake in Illumina, Inc. (NASDAQ:ILMN)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 25.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ILMN. Versant Capital Management Inc grew its position in shares of Illumina by 292.9% during the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock worth $34,000 after purchasing an additional 246 shares in the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in shares of Illumina in the 2nd quarter worth approximately $34,000. Massmutual Trust Co. FSB ADV boosted its holdings 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 worth $56,000 after purchasing an additional 168 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Illumina in the 2nd quarter worth approximately $61,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Illumina in the 2nd quarter worth approximately $63,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $252.00 price target on shares of Illumina in a research note on Thursday, October 10th. Leerink Partners raised their price target on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. TD Cowen raised Illumina from a “hold” rating to a “buy” rating and raised their price target for the stock from $126.00 to $144.00 in a research note on Wednesday, August 14th. Hsbc Global Res raised Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target for the company in a research note on Thursday, October 17th. Finally, Daiwa Capital Markets raised Illumina from a “neutral” rating to a “buy” rating and raised their price target for the stock from $120.00 to $154.00 in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.50.

Illumina Stock Up 2.5 %

Illumina stock opened at $153.49 on Tuesday. The firm has a market cap of $24.45 billion, a price-to-earnings ratio of -8.02 and a beta of 1.13. Illumina, Inc. has a 52 week low of $89.00 and a 52 week high of $155.37. The business’s 50-day moving average price is $136.39 and its 200 day moving average price is $122.65. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. Illumina’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 earnings per share. As a group, sell-side analysts anticipate that Illumina, Inc. will post 3.63 earnings per share for the current year.

Illumina 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.