Louisiana State Employees Retirement System Cuts Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Louisiana State Employees Retirement System decreased its stake in Illumina, Inc. (NASDAQ:ILMN) by 2.6% during the 3rd quarter, Holdings Channel reports. The firm owned 56,300 shares of the life sciences company’s stock after selling 1,500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Illumina were worth $7,342,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in Illumina by 426.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock worth $2,123,000 after buying an additional 12,521 shares during the last quarter. Findlay Park Partners LLP purchased a new stake in shares of Illumina during the first quarter worth approximately $100,120,000. Jupiter Asset Management Ltd. acquired a new position in Illumina in the 1st quarter valued at $4,527,000. US Bancorp DE raised its stake in Illumina by 33.9% in the 1st quarter. US Bancorp DE now owns 31,600 shares of the life sciences company’s stock valued at $4,339,000 after purchasing an additional 8,001 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Illumina by 41.4% during the 1st quarter. BNP Paribas Financial Markets now owns 390,035 shares of the life sciences company’s stock worth $53,560,000 after purchasing an additional 114,263 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Stock Up 0.4 %

Shares of NASDAQ ILMN opened at $141.95 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $134.30 and its two-hundred day moving average is $121.64. Illumina, Inc. has a 52-week low of $89.00 and a 52-week high of $151.40. The firm has a market cap of $22.61 billion, a price-to-earnings ratio of -7.41 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.24. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the business earned $0.32 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Research analysts predict that Illumina, Inc. will post 3.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ILMN shares. Piper Sandler reduced their target price on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Daiwa America raised shares of Illumina to a “strong-buy” rating in a research note on Friday, August 16th. Royal Bank of Canada restated an “outperform” rating and set a $252.00 target price on shares of Illumina in a report on Thursday, October 10th. Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Wednesday, August 28th. Finally, Leerink Partners boosted their price objective on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Illumina has an average rating of “Moderate Buy” and an average price target of $154.33.

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.