Man Group plc Sells 36,433 Shares of Illumina, Inc. (NASDAQ:ILMN)

Man Group plc reduced its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 40.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,872 shares of the life sciences company’s stock after selling 36,433 shares during the period. Man Group plc’s holdings in Illumina were worth $7,065,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Capital World Investors raised its position in Illumina by 408.6% during the 4th quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company’s stock worth $2,408,721,000 after purchasing an additional 14,481,232 shares during the last quarter. WCM Investment Management LLC raised its position in Illumina by 26.6% during the 4th quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company’s stock worth $551,625,000 after purchasing an additional 867,673 shares during the last quarter. Bank of New York Mellon Corp raised its position in Illumina by 0.8% during the 4th quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company’s stock worth $454,617,000 after purchasing an additional 27,618 shares during the last quarter. Brown Advisory Inc. raised its position in Illumina by 54,220.9% during the 4th quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company’s stock worth $255,586,000 after purchasing an additional 1,909,118 shares during the last quarter. Finally, Norges Bank bought a new position in Illumina during the 4th quarter worth $228,714,000. 89.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Illumina

In related news, CFO Ankur Dhingra purchased 6,100 shares of the business’s stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the purchase, the chief financial officer now owns 24,906 shares of the company’s stock, valued at approximately $2,022,616.26. This trade represents a 32.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company’s stock.

Illumina Price Performance

ILMN stock opened at $82.95 on Tuesday. The company has a market capitalization of $13.13 billion, a P/E ratio of -10.80, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. Illumina, Inc. has a 52-week low of $68.70 and a 52-week high of $156.66. The business has a 50-day simple moving average of $78.46 and a two-hundred day simple moving average of $110.42.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. Research analysts expect that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ILMN has been the subject of several research analyst reports. Canaccord Genuity Group lowered their price objective on Illumina from $92.00 to $87.00 and set a “hold” rating for the company in a research report on Monday, May 12th. Robert W. Baird lowered their price objective on Illumina from $127.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. Guggenheim cut their price target on Illumina from $122.00 to $114.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Barclays cut their price target on Illumina from $100.00 to $77.00 and set an “underweight” rating on the stock in a report on Thursday, April 10th. Finally, HSBC cut Illumina from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.70.

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.