Man Group plc Has $7.07 Million Holdings in Illumina, Inc. (NASDAQ:ILMN)

Man Group plc lessened its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 40.8% during the fourth quarter, according to the company in its most recent Form 13F 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 quarter. Man Group plc’s holdings in Illumina were worth $7,065,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ILMN. Golden State Wealth Management LLC acquired a new position in shares of Illumina in the fourth quarter valued at approximately $32,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Illumina in the fourth quarter valued at approximately $45,000. Assetmark Inc. grew its position in shares of Illumina by 954.8% in the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company’s stock valued at $44,000 after purchasing an additional 296 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of Illumina in the fourth quarter valued at approximately $48,000. Finally, V Square Quantitative Management LLC grew its position in shares of Illumina by 50.6% in the fourth quarter. V Square Quantitative Management LLC now owns 393 shares of the life sciences company’s stock valued at $52,000 after purchasing an additional 132 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Insider Activity

In other news, CFO Ankur Dhingra purchased 6,100 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was bought at an average cost 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. The trade was a 32.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Piper Sandler decreased their target price on Illumina from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Thursday, May 15th. JPMorgan Chase & Co. decreased their target price on Illumina from $120.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. HSBC cut Illumina from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research note on Friday, February 28th. Royal Bank of Canada cut their price target on Illumina from $128.00 to $112.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. Finally, Robert W. Baird cut their price target on Illumina from $127.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.70.

Illumina Stock Down 0.8%

Shares of ILMN opened at $82.95 on Tuesday. Illumina, Inc. has a 52 week low of $68.70 and a 52 week high of $156.66. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of -10.80, a PEG 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. The stock has a fifty day moving average of $78.46 and a 200-day moving average of $110.42.

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

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.