M&G Plc Sells 3,275 Shares of Illumina, Inc. (NASDAQ:ILMN)

M&G Plc cut its position in Illumina, Inc. (NASDAQ:ILMN) by 2.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 147,954 shares of the life sciences company’s stock after selling 3,275 shares during the period. M&G Plc owned approximately 0.09% of Illumina worth $15,387,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Illumina by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock worth $2,505,409,000 after acquiring an additional 66,528 shares during the last quarter. Edgewood Management LLC raised its stake in shares of Illumina by 4.6% in the fourth quarter. Edgewood Management LLC now owns 6,878,495 shares of the life sciences company’s stock worth $957,762,000 after purchasing an additional 302,222 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Illumina by 8.7% during the first quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock valued at $787,725,000 after purchasing an additional 460,649 shares in the last quarter. WCM Investment Management LLC lifted its holdings in shares of Illumina by 2,232.3% during the first quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock valued at $463,760,000 after purchasing an additional 3,232,418 shares in the last quarter. Finally, Capital World Investors lifted its stake in Illumina by 41.1% during the 1st quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock valued at $378,111,000 after acquiring an additional 801,814 shares during the period. Institutional investors own 89.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $242.00 target price on shares of Illumina in a research report on Wednesday, August 7th. Citigroup boosted their price objective on Illumina from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Stephens reaffirmed an “overweight” rating and set a $170.00 target price on shares of Illumina in a research note on Wednesday, July 10th. Jefferies Financial Group started coverage on Illumina in a research report on Monday, June 3rd. They set a “hold” rating and a $115.00 target price for the company. Finally, TD Cowen raised Illumina from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $126.00 to $144.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Illumina currently has an average rating of “Hold” and an average price target of $151.55.

Illumina Stock Performance

ILMN stock opened at $119.72 on Wednesday. The firm has a 50-day simple moving average of $113.76 and a two-hundred day simple moving average of $122.63. The firm has a market cap of $19.07 billion, a price-to-earnings ratio of -14.69 and a beta of 1.15. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.75. Illumina, Inc. has a one year low of $89.00 and a one year high of $179.44.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS. On average, equities analysts forecast that Illumina, Inc. will post 1.5 EPS for the current fiscal year.

Illumina Company 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.