500,000 Shares in Illumina, Inc. $ILMN Purchased by Southpoint Capital Advisors LP

Key Points

• Southpoint Capital Advisors LP has acquired 500,000 shares of Illumina, Inc., valued at approximately $39.67 million, representing a 0.32% ownership stake as of their latest SEC filing.
• Illumina reported $1.19 EPS for the last quarter, above the expected $1.02, but with revenue of $1.06 billion falling short of the anticipated $1.12 billion.
• The company's stock has shown significant analyst activity, with ratings ranging from buy to hold, reflecting varying opinions on its future performance amid recent price target adjustments.

Southpoint Capital Advisors LP purchased a new position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 500,000 shares of the life sciences company's stock, valued at approximately $39,670,000. Southpoint Capital Advisors LP owned about 0.32% of Illumina at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ILMN. Fourth Dimension Wealth LLC purchased a new stake in Illumina in the 4th quarter valued at about $40,000. Rakuten Securities Inc. increased its position in shares of Illumina by 290.3% during the first quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock valued at $29,000 after acquiring an additional 270 shares during the last quarter. Center for Financial Planning Inc. acquired a new stake in shares of Illumina during the first quarter valued at about $33,000. PFS Partners LLC raised its stake in shares of Illumina by 400.0% in the 1st quarter. PFS Partners LLC now owns 500 shares of the life sciences company's stock valued at $40,000 after acquiring an additional 400 shares during the period. Finally, Golden State Wealth Management LLC raised its stake in shares of Illumina by 123.2% in the 1st quarter. Golden State Wealth Management LLC now owns 529 shares of the life sciences company's stock valued at $42,000 after acquiring an additional 292 shares during the period. Hedge funds and other institutional investors own 89.42% of the company's stock.

Illumina Price Performance

Shares of NASDAQ ILMN opened at $99.96 on Tuesday. The stock's 50-day moving average is $99.29 and its two-hundred day moving average is $88.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.81 and a quick ratio of 1.41. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66. The company has a market cap of $15.36 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 2.25 and a beta of 1.43.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The life sciences company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.17. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.12 billion. Illumina had a return on equity of 28.93% and a net margin of 29.36%.The business's quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Analysts forecast that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on ILMN shares. Guggenheim decreased their price target on Illumina from $122.00 to $114.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Wall Street Zen lowered Illumina from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. lowered their target price on Illumina from $120.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Daiwa America downgraded Illumina from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 12th. Finally, Barclays increased their price target on shares of Illumina from $85.00 to $90.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Illumina presently has an average rating of "Hold" and a consensus price target of $123.17.

About Illumina

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.

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