abrdn plc Sells 124,654 Shares of Illumina, Inc. (NASDAQ:ILMN)

abrdn plc cut its position in Illumina, Inc. (NASDAQ:ILMN) by 35.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,268 shares of the life sciences company’s stock after selling 124,654 shares during the quarter. abrdn plc owned about 0.15% of Illumina worth $30,904,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Illumina by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company’s stock valued at $354,933,000 after acquiring an additional 48,018 shares during the period. Primecap Management Co. CA lifted its position in shares of Illumina by 3.6% during the 3rd quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company’s stock valued at $328,158,000 after acquiring an additional 87,599 shares during the period. Janus Henderson Group PLC lifted its position in shares of Illumina by 40.5% during the 3rd quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock valued at $282,735,000 after acquiring an additional 625,245 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Illumina by 4.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,260,137 shares of the life sciences company’s stock valued at $164,334,000 after acquiring an additional 54,319 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Illumina by 148.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock valued at $137,735,000 after acquiring an additional 631,294 shares during the period. 89.42% of the stock is currently owned by institutional investors.

Illumina Trading Up 0.4 %

Shares of ILMN stock opened at $124.68 on Thursday. The company has a market cap of $19.77 billion, a P/E ratio of -12.52 and a beta of 1.10. The stock has a 50 day simple moving average of $138.19 and a two-hundred day simple moving average of $135.50. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. Illumina, Inc. has a fifty-two week low of $100.08 and a fifty-two week high of $156.66.

Illumina (NASDAQ:ILMN) last issued its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the company posted $0.33 earnings per share. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. Research analysts forecast that Illumina, Inc. will post 4.13 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on ILMN shares. Leerink Partners raised 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. Barclays reduced their price objective on Illumina from $145.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Monday. Canaccord Genuity Group raised their price objective on Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Stephens increased their target price on Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. increased their target price on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.84.

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.