16,068 Shares in Illumina, Inc. $ILMN Acquired by OP Asset Management Ltd

Key Points

• OP Asset Management Ltd initiated a new position in Illumina, buying 16,068 shares worth about $1.98 million in the first quarter.
• Institutional ownership remains high, with 89.42% of Illumina’s stock held by institutions. Several other funds also increased or started positions during the quarter.
• Analysts are mixed on the stock: the consensus rating is Hold with an average price target of $146, while recent insider sales included a large disposal by Director Keith A. Meister.

OP Asset Management Ltd bought a new stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 16,068 shares of the life sciences company's stock, valued at approximately $1,981,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise boosted its stake in shares of Illumina by 25.9% in the 1st quarter. Banque Cantonale Vaudoise now owns 8,901 shares of the life sciences company's stock worth $1,097,000 after buying an additional 1,830 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Illumina by 108.8% in the first quarter. Assenagon Asset Management S.A. now owns 48,508 shares of the life sciences company's stock valued at $5,979,000 after acquiring an additional 25,273 shares during the period. SG Americas Securities LLC boosted its position in Illumina by 8.0% in the first quarter. SG Americas Securities LLC now owns 86,318 shares of the life sciences company's stock worth $10,640,000 after purchasing an additional 6,425 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Illumina in the first quarter worth about $106,462,000. Finally, Kavar Capital Partners Group LLC bought a new stake in shares of Illumina during the 1st quarter valued at about $500,000. 89.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ILMN shares. Royal Bank Of Canada assumed coverage on shares of Illumina in a research report on Thursday, May 14th. They set an "outperform" rating and a $170.00 price target for the company. Citigroup upped their target price on shares of Illumina from $80.00 to $95.00 and gave the company a "sell" rating in a report on Monday, May 4th. Guggenheim increased their price target on shares of Illumina from $170.00 to $180.00 and gave the stock a "buy" rating in a research report on Monday, June 1st. Sanford C. Bernstein assumed coverage on shares of Illumina in a research note on Friday. They set a "market perform" rating and a $185.00 price target on the stock. Finally, Daiwa Securities Group raised shares of Illumina from a "neutral" rating to an "outperform" rating and set a $155.00 price objective for the company in a research report on Thursday, May 14th. Eight investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Illumina currently has a consensus rating of "Hold" and an average price target of $146.00.

Insider Transactions at Illumina

In related news, Director Keith A. Meister sold 235,000 shares of the company's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $163.63, for a total transaction of $38,453,050.00. Following the completion of the transaction, the director owned 2,830,452 shares in the company, valued at approximately $463,146,860.76. This represents a 7.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Patricia Leckman sold 783 shares of Illumina stock in a transaction on Friday, June 5th. The shares were sold at an average price of $162.59, for a total transaction of $127,307.97. Following the completion of the sale, the senior vice president owned 21,259 shares in the company, valued at approximately $3,456,500.81. This represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,003,769 shares of company stock valued at $155,710,908. 2.90% of the stock is owned by corporate insiders.

Illumina Price Performance

Shares of Illumina stock opened at $176.55 on Monday. The stock's 50-day simple moving average is $149.62 and its 200-day simple moving average is $137.73. Illumina, Inc. has a 52 week low of $88.00 and a 52 week high of $182.84. The company has a market capitalization of $26.71 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 3.30 and a beta of 1.50. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.56.

Illumina (NASDAQ:ILMN - Get Free Report) last released its earnings results on Thursday, April 30th. The life sciences company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.10. Illumina had a return on equity of 31.01% and a net margin of 19.42%.The firm had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter last year, the business posted $0.97 earnings per share. The firm's revenue was up 4.8% on a year-over-year basis. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. As a group, analysts expect that Illumina, Inc. will post 5.21 earnings per share for the current fiscal year.

About Illumina

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.

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