Mirae Asset Global Investments Co. Ltd. Sells 27,704 Shares of Illumina, Inc. (NASDAQ:ILMN)

Mirae Asset Global Investments Co. Ltd. reduced its stake in Illumina, Inc. (NASDAQ:ILMN) by 36.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,746 shares of the life sciences company’s stock after selling 27,704 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Illumina were worth $6,387,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ILMN. Versant Capital Management Inc lifted its holdings in shares of Illumina by 153.7% in the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock valued at $32,000 after purchasing an additional 146 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Illumina by 58.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock valued at $50,000 after acquiring an additional 141 shares in the last quarter. Private Trust Co. NA lifted its stake in Illumina by 81.2% in the 3rd quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock valued at $62,000 after acquiring an additional 212 shares in the last quarter. Focused Wealth Management Inc acquired a new position in Illumina during the 3rd quarter worth approximately $63,000. Finally, Hollencrest Capital Management bought a new position in shares of Illumina during the 3rd quarter worth approximately $63,000. 89.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays reduced their target price on shares of Illumina from $145.00 to $130.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Canaccord Genuity Group reduced their price objective on shares of Illumina from $145.00 to $135.00 and set a “hold” rating for the company in a research note on Friday. Robert W. Baird lifted their target price on Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reduced their price target on Illumina from $250.00 to $247.00 and set an “outperform” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. raised their price target on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $161.40.

Illumina Price Performance

Shares of NASDAQ ILMN opened at $111.06 on Friday. The firm has a market cap of $17.61 billion, a P/E ratio of -11.15 and a beta of 1.10. The business’s 50 day moving average is $137.37 and its 200-day moving average is $135.34. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. Illumina, Inc. has a 1-year low of $100.08 and a 1-year high of $156.66.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. Equities research analysts predict that Illumina, Inc. will post 4.13 earnings per share for the current year.

Illumina 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.