14,648 Shares in Illumina, Inc. $ILMN Acquired by L2 Asset Management LLC

Key Points

• L2 Asset Management acquired 14,648 Illumina shares during the second quarter, valued at approximately $2.6 million. Institutional investors and hedge funds collectively own 89.42% of the company.
• Analyst sentiment was mixed but generally positive: Piper Sandler and Guggenheim raised their price targets to $225 and $226, respectively, while Deutsche Bank downgraded the stock to Hold. The consensus rating remains Hold, with a $188.40 price target.
• Illumina exceeded quarterly expectations, reporting $1.31 in EPS and $1.16 billion in revenue, with revenue up 9.4% year over year. However, insiders sold more than 2.09 million shares worth approximately $401.7 million over the past 90 days.

L2 Asset Management LLC bought a new stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,648 shares of the life sciences company's stock, valued at approximately $2,576,000.

A number of other large investors also recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC boosted its position in shares of Illumina by 3.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,218 shares of the life sciences company's stock worth $291,000 after buying an additional 80 shares during the period. Elevation Wealth Partners LLC grew its stake in shares of Illumina by 52.5% in the second quarter. Elevation Wealth Partners LLC now owns 244 shares of the life sciences company's stock valued at $43,000 after buying an additional 84 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in shares of Illumina by 3.1% in the 1st quarter. Meeder Advisory Services Inc. now owns 2,822 shares of the life sciences company's stock valued at $348,000 after buying an additional 85 shares during the period. Toronto Dominion Bank raised its holdings in shares of Illumina by 0.3% in the 4th quarter. Toronto Dominion Bank now owns 33,605 shares of the life sciences company's stock valued at $4,407,000 after buying an additional 92 shares during the period. Finally, Panagora Asset Management Inc. lifted its stake in Illumina by 3.9% during the 4th quarter. Panagora Asset Management Inc. now owns 2,536 shares of the life sciences company's stock worth $333,000 after acquiring an additional 96 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ILMN has been the subject of a number of research analyst reports. Piper Sandler restated an "overweight" rating and set a $225.00 target price (up from $200.00) on shares of Illumina in a report on Monday, August 3rd. Guggenheim boosted their price target on shares of Illumina from $200.00 to $226.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft cut shares of Illumina to a "hold" rating in a research report on Wednesday, August 5th. Wall Street Zen raised shares of Illumina from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings upgraded shares of Illumina from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Illumina has a consensus rating of "Hold" and a consensus price target of $188.40.

Illumina Price Performance

ILMN stock opened at $223.22 on Tuesday. The business's 50-day moving average is $189.13 and its two-hundred day moving average is $153.14. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.80 and a quick ratio of 1.40. The firm has a market capitalization of $33.71 billion, a P/E ratio of 41.65, a P/E/G ratio of 3.09 and a beta of 1.44. Illumina, Inc. has a 1 year low of $88.00 and a 1 year high of $223.97.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The life sciences company reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.08. Illumina had a return on equity of 29.84% and a net margin of 18.36%.The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted $1.19 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. Analysts anticipate that Illumina, Inc. will post 5.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Christensen Jakob Wedel sold 1,033 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $191.52, for a total value of $197,840.16. Following the sale, the senior vice president directly owned 14,023 shares in the company, valued at approximately $2,685,684.96. This trade represents a 6.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith A. Meister sold 457,858 shares of Illumina stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $200.10, for a total transaction of $91,617,385.80. Following the sale, the director directly owned 2,372,694 shares of the company's stock, valued at approximately $474,776,069.40. This trade represents a 16.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,095,958 shares of company stock worth $401,720,974 over the last 90 days. 2.90% of the stock is owned by insiders.

Illumina Profile

Illumina, Inc NASDAQ: ILMN is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company's product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source