Illumina, Inc. (NASDAQ:ILMN) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its position in Illumina, Inc. (NASDAQ:ILMN) by 9.7% in the fourth quarter, HoldingsChannel reports. The firm owned 179,465 shares of the life sciences company’s stock after selling 19,330 shares during the period. Corebridge Financial Inc.’s holdings in Illumina were worth $23,982,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in shares of Illumina by 1.7% during the 3rd quarter. Empowered Funds LLC now owns 3,960 shares of the life sciences company’s stock worth $516,000 after buying an additional 66 shares during the last quarter. Caprock Group LLC grew its position in Illumina by 3.0% in the third quarter. Caprock Group LLC now owns 2,884 shares of the life sciences company’s stock worth $376,000 after acquiring an additional 83 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Illumina during the third quarter worth $710,000. Commerce Bank raised its position in Illumina by 3.5% in the third quarter. Commerce Bank now owns 6,376 shares of the life sciences company’s stock valued at $831,000 after purchasing an additional 217 shares during the period. Finally, Intech Investment Management LLC lifted its stake in shares of Illumina by 161.6% in the 3rd quarter. Intech Investment Management LLC now owns 7,845 shares of the life sciences company’s stock valued at $1,023,000 after purchasing an additional 4,846 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ILMN has been the subject of a number of recent analyst reports. Citigroup cut their price objective on Illumina from $130.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Piper Sandler boosted their price target on shares of Illumina from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Hsbc Global Res lowered shares of Illumina from a “strong-buy” rating to a “hold” rating in a report on Friday, February 28th. Barclays reiterated an “underweight” rating on shares of Illumina in a report on Tuesday, March 11th. Finally, Robert W. Baird decreased their price target on Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.90.

Illumina Stock Performance

Shares of Illumina stock opened at $87.66 on Monday. The business has a 50-day simple moving average of $108.20 and a 200-day simple moving average of $128.26. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. Illumina, Inc. has a one year low of $80.18 and a one year high of $156.66. The company has a market cap of $13.89 billion, a PE ratio of -11.41, a P/E/G ratio of 1.60 and a beta of 1.17.

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