Abacus FCF Advisors LLC Invests $7.91 Million in Illumina, Inc. $ILMN

Key Points

• Abacus FCF Advisors LLC acquired 82,898 shares of Illumina, Inc. for approximately $7.9 million, representing a 0.05% ownership stake as of their latest SEC filing.
• Illumina reported a quarterly earnings per share (EPS) of $1.19, surpassing the consensus estimate of $1.02, despite a year-over-year revenue decline of 4.8% to $1.06 billion.
• Analysts have varied ratings for Illumina, with a current average rating of "Hold" and a price target of $123.06, while some firms recently downgraded their assessments of the stock.

Abacus FCF Advisors LLC acquired a new stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 82,898 shares of the life sciences company's stock, valued at approximately $7,909,000. Abacus FCF Advisors LLC owned 0.05% of Illumina at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Farther Finance Advisors LLC increased its position in Illumina by 9.8% during the second quarter. Farther Finance Advisors LLC now owns 2,521 shares of the life sciences company's stock worth $241,000 after acquiring an additional 225 shares during the period. UMB Bank n.a. grew its stake in Illumina by 45.7% during the second quarter. UMB Bank n.a. now owns 1,617 shares of the life sciences company's stock worth $154,000 after buying an additional 507 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Illumina during the second quarter worth about $173,000. IFM Investors Pty Ltd grew its stake in Illumina by 6.9% during the second quarter. IFM Investors Pty Ltd now owns 31,057 shares of the life sciences company's stock worth $2,963,000 after buying an additional 1,994 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Illumina by 2.0% during the second quarter. Exchange Traded Concepts LLC now owns 225,029 shares of the life sciences company's stock worth $21,470,000 after buying an additional 4,338 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ILMN shares. Royal Bank Of Canada set a $124.00 price target on shares of Illumina in a research note on Tuesday, September 2nd. Stephens set a $110.00 price target on shares of Illumina and gave the stock an "overweight" rating in a research report on Monday, August 4th. Scotiabank downgraded shares of Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 target price on the stock. in a research report on Friday, July 11th. Citigroup lowered shares of Illumina from a "hold" rating to a "strong sell" rating and decreased their price target for the company from $85.00 to $80.00 in a research note on Wednesday, July 9th. Finally, Canaccord Genuity Group upped their target price on shares of Illumina from $99.00 to $105.00 and gave the stock a "hold" rating in a research note on Friday, August 1st. Six research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $123.06.

Illumina Stock Down 1.1%

Illumina stock traded down $1.12 on Tuesday, hitting $100.37. 317,041 shares of the stock traded hands, compared to its average volume of 2,227,116. The business's fifty day simple moving average is $99.83 and its 200 day simple moving average is $89.19. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. The firm has a market cap of $15.43 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 2.31 and a beta of 1.43. Illumina, Inc. has a 1 year low of $68.70 and a 1 year high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.17. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.12 billion. Illumina had a return on equity of 28.93% and a net margin of 29.36%.Illumina's revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 EPS. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. As a group, sell-side analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current year.

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.