Allianz Asset Management GmbH Reduces Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Allianz Asset Management GmbH decreased its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 62.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,508 shares of the life sciences company's stock after selling 24,125 shares during the quarter. Allianz Asset Management GmbH's holdings in Illumina were worth $1,151,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors lifted its position in Illumina by 408.6% in the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock valued at $2,408,721,000 after buying an additional 14,481,232 shares during the last quarter. WCM Investment Management LLC lifted its position in Illumina by 1.2% in the first quarter. WCM Investment Management LLC now owns 4,179,011 shares of the life sciences company's stock valued at $334,321,000 after buying an additional 49,156 shares during the last quarter. Brown Advisory Inc. lifted its position in Illumina by 52.1% in the first quarter. Brown Advisory Inc. now owns 2,909,228 shares of the life sciences company's stock valued at $230,818,000 after buying an additional 996,589 shares during the last quarter. Northern Trust Corp lifted its position in Illumina by 26.9% in the fourth quarter. Northern Trust Corp now owns 1,652,935 shares of the life sciences company's stock valued at $220,882,000 after buying an additional 349,878 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in Illumina by 32,837.5% in the fourth quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company's stock valued at $180,152,000 after buying an additional 1,344,038 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Illumina from $136.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Guggenheim decreased their target price on shares of Illumina from $122.00 to $114.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Scotiabank cut shares of Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 target price on the stock. in a research report on Friday, July 11th. Piper Sandler reduced their price target on shares of Illumina from $190.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Finally, Barclays raised their price objective on shares of Illumina from $85.00 to $90.00 and gave the company an "underweight" rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $127.21.

Insider Buying and Selling

In related news, CFO Ankur Dhingra purchased 6,100 shares of the company's stock in a transaction on Monday, May 12th. The shares were bought at an average cost of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the purchase, the chief financial officer directly owned 24,906 shares of the company's stock, valued at approximately $2,022,616.26. This trade represents a 32.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is owned by corporate insiders.

Illumina Stock Down 7.8%

Shares of ILMN stock traded down $8.05 during trading hours on Friday, reaching $94.66. 4,769,729 shares of the stock were exchanged, compared to its average volume of 2,180,101. The business's fifty day moving average is $93.52 and its two-hundred day moving average is $93.18. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.86 and a quick ratio of 1.48. Illumina, Inc. has a 12-month low of $68.70 and a 12-month high of $156.66. The firm has a market capitalization of $14.98 billion, a P/E ratio of 11.98, a P/E/G ratio of 2.01 and a beta of 1.37.

Illumina (NASDAQ:ILMN - Get Free Report) last released its earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.17. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.12 billion. Illumina had a net margin of 29.36% and a return on equity of 28.84%. The business's quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. As a group, research analysts expect 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.