Illumina, Inc. $ILMN Shares Purchased by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in Illumina, Inc. by 171.2%, acquiring an additional 20,784 shares to reach a total of 32,921 shares valued at approximately $2.6 million.
• Institutional investors collectively own 89.42% of Illumina's stock, with several firms including Rise Advisors LLC and PFS Partners LLC significantly increasing their positions in the first quarter of 2023.
• Illumina reported $1.19 EPS for the last quarter, surpassing analysts' expectations, although its revenue of $1.06 billion was down 4.8% year-over-year.

Acadian Asset Management LLC boosted its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 171.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,921 shares of the life sciences company's stock after purchasing an additional 20,784 shares during the period. Acadian Asset Management LLC's holdings in Illumina were worth $2,608,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Illumina by 3.5% during the first quarter. Vanguard Group Inc. now owns 16,371,662 shares of the life sciences company's stock valued at $1,298,928,000 after purchasing an additional 558,243 shares in the last quarter. WCM Investment Management LLC raised its holdings in Illumina by 1.2% during the first quarter. WCM Investment Management LLC now owns 4,179,011 shares of the life sciences company's stock valued at $334,321,000 after acquiring an additional 49,156 shares during the period. Corvex Management LP raised its holdings in Illumina by 125.2% during the first quarter. Corvex Management LP now owns 3,829,608 shares of the life sciences company's stock valued at $303,841,000 after acquiring an additional 2,129,449 shares during the period. Brown Advisory Inc. raised its holdings in Illumina by 52.1% during the first quarter. Brown Advisory Inc. now owns 2,909,228 shares of the life sciences company's stock valued at $230,818,000 after acquiring an additional 996,589 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Illumina by 361.7% during the first quarter. AQR Capital Management LLC now owns 2,121,585 shares of the life sciences company's stock valued at $165,484,000 after acquiring an additional 1,662,093 shares during the period. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Stock Up 0.2%

Illumina stock traded up $0.25 during mid-day trading on Friday, reaching $103.28. 788,268 shares of the company were exchanged, compared to its average volume of 2,228,772. The business has a fifty day moving average of $99.71 and a 200 day moving average of $88.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 1.81. The firm has a market cap of $15.87 billion, a P/E ratio of 13.07, a PEG ratio of 2.27 and a beta of 1.43. Illumina, Inc. has a 12-month low of $68.70 and a 12-month high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last posted 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 company 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 prior year, the business earned $0.36 earnings per share. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Research analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ILMN. Wall Street Zen cut Illumina from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Citigroup cut Illumina from a "hold" rating to a "strong sell" rating and reduced their target price for the stock from $85.00 to $80.00 in a report on Wednesday, July 9th. Scotiabank cut Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 target price on the stock. in a report on Friday, July 11th. Canaccord Genuity Group lifted their target price on Illumina from $99.00 to $105.00 and gave the stock a "hold" rating in a report on Friday, August 1st. Finally, Robert W. Baird lifted their target price on Illumina from $84.00 to $105.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Illumina presently has a consensus rating of "Hold" and a consensus target price of $123.06.

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.