Mirae Asset Global Investments Co. Ltd. Sells 27,704 Shares of Illumina, Inc. (NASDAQ:ILMN)

Mirae Asset Global Investments Co. Ltd. trimmed its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 36.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 47,746 shares of the life sciences company’s stock after selling 27,704 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Illumina were worth $6,387,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its position in Illumina by 153.7% during the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after purchasing an additional 146 shares during the period. TD Private Client Wealth LLC raised its position in shares of Illumina by 58.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock valued at $50,000 after buying an additional 141 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of Illumina by 81.2% during the 3rd quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock worth $62,000 after acquiring an additional 212 shares during the period. Focused Wealth Management Inc acquired a new stake in shares of Illumina during the 3rd quarter worth approximately $63,000. Finally, Hollencrest Capital Management bought a new position in Illumina in the third quarter valued at approximately $63,000. 89.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ILMN has been the subject of several recent analyst reports. Robert W. Baird upped their target price on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Piper Sandler dropped their price objective on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Morgan Stanley decreased their target price on Illumina from $156.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Barclays dropped their target price on shares of Illumina from $145.00 to $130.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Finally, Royal Bank of Canada decreased their price target on shares of Illumina from $250.00 to $247.00 and set an “outperform” rating on the stock in a report on Friday. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $161.40.

Illumina Stock Performance

NASDAQ:ILMN opened at $111.06 on Friday. 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. The company has a 50 day simple moving average of $137.37 and a two-hundred day simple moving average of $135.34. The company has a market capitalization of $17.61 billion, a PE ratio of -11.15 and a beta of 1.10.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. Research analysts anticipate that Illumina, Inc. will post 4.13 earnings per share 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.