AQR Capital Management LLC Sells 185,435 Shares of Illumina, Inc. (NASDAQ:ILMN)

AQR Capital Management LLC decreased its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 28.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 459,492 shares of the life sciences company's stock after selling 185,435 shares during the period. AQR Capital Management LLC owned about 0.29% of Illumina worth $61,402,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ILMN. Bleakley Financial Group LLC acquired a new position in shares of Illumina in the fourth quarter worth $751,000. Van ECK Associates Corp raised its stake in shares of Illumina by 17.5% during the 4th quarter. Van ECK Associates Corp now owns 152,265 shares of the life sciences company's stock worth $20,347,000 after purchasing an additional 22,718 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Illumina in the 4th quarter valued at approximately $1,464,000. Allworth Financial LP raised its position in Illumina by 720.7% during the fourth quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company's stock valued at $1,001,000 after acquiring an additional 6,263 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Illumina in the fourth quarter valued at approximately $448,000. Hedge funds and other institutional investors own 89.42% of the company's stock.

Analyst Upgrades and Downgrades

ILMN has been the subject of several analyst reports. Citigroup reduced their price objective on shares of Illumina from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Piper Sandler raised their price objective on Illumina from $185.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. TD Cowen downgraded Illumina from a "buy" rating to a "hold" rating and lowered their price target for the company from $177.00 to $140.00 in a report on Friday, February 7th. Stephens reaffirmed an "overweight" rating and set a $156.00 price objective on shares of Illumina in a report on Tuesday, March 11th. Finally, Morgan Stanley cut their target price on shares of Illumina from $150.00 to $136.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $137.55.

Illumina Trading Down 4.6 %

NASDAQ ILMN traded down $3.58 during trading on Tuesday, reaching $74.59. 1,119,698 shares of the stock traded hands, compared to its average volume of 2,272,354. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The stock's 50-day moving average price is $79.75 and its 200 day moving average price is $114.99. The firm has a market cap of $11.80 billion, a price-to-earnings ratio of -9.72, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. Analysts predict that Illumina, Inc. will post 4.51 EPS 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.