Andra AP fonden Sells 18,006 Shares of Illumina, Inc. $ILMN

Key Points

• Andra AP fonden reduced its Illumina stake by 21.4%, selling 18,006 shares in the second quarter and retaining 66,131 shares valued at approximately $11.6 million. Institutional investors collectively own 89.42% of the company.
• Illumina reported quarterly earnings of $1.31 per share, exceeding the $1.23 analyst estimate, while revenue rose 9.4% year over year to $1.16 billion.
• Illumina shares opened at $247.46, near their 12-month high, despite a consensus analyst rating of “Hold” and a consensus price target of $199.12. Insider selling has also been substantial, totaling more than $436 million over the past 90 days.

Andra AP fonden reduced its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 21.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,131 shares of the life sciences company's stock after selling 18,006 shares during the period. Andra AP fonden's holdings in Illumina were worth $11,628,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Illumina during the second quarter worth approximately $3,374,423,000. Plato Investment Management Ltd bought a new position in Illumina during the 2nd quarter worth $948,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Illumina in the 2nd quarter valued at $30,501,000. Edmond DE Rothschild Holding S.A. acquired a new position in Illumina in the 2nd quarter valued at $129,792,000. Finally, Impact Partnership Wealth LLC lifted its position in Illumina by 235.8% during the first quarter. Impact Partnership Wealth LLC now owns 11,080 shares of the life sciences company's stock worth $1,366,000 after purchasing an additional 7,780 shares during the period. Institutional investors and hedge funds own 89.42% of the company's stock.

Illumina Stock Up 3.6%

Shares of NASDAQ:ILMN opened at $247.46 on Wednesday. The firm has a market cap of $37.37 billion, a P/E ratio of 46.17, a P/E/G ratio of 3.38 and a beta of 1.46. Illumina, Inc. has a 12-month low of $88.00 and a 12-month high of $250.06. The business has a fifty day simple moving average of $206.72 and a 200 day simple moving average of $167.63. The company has a quick ratio of 1.40, a current ratio of 1.80 and a debt-to-equity ratio of 0.53.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The life sciences company reported $1.31 EPS for the quarter, beating 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 firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the company posted $1.19 EPS. The business's revenue was up 9.4% on a year-over-year basis. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. Analysts predict that Illumina, Inc. will post 5.36 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on ILMN. JPMorgan Chase & Co. increased their price objective on shares of Illumina from $220.00 to $230.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Zacks Research lowered Illumina from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 1st. Canaccord Genuity Group increased their target price on shares of Illumina from $190.00 to $205.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. Argus raised their price target on shares of Illumina from $180.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Finally, Leerink Partners increased their price objective on shares of Illumina from $175.00 to $210.00 and gave the company an "outperform" rating in a research note on Friday, July 17th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $199.12.

Insider Activity

In other news, Director Keith Meister sold 457,858 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $200.10, for a total transaction of $91,617,385.80. Following the transaction, the director owned 2,372,694 shares in the company, valued at approximately $474,776,069.40. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 2,062,465 shares of company stock worth $436,589,802. 2.90% of the stock is owned by insiders.

About Illumina

Illumina, Inc develops and manufactures genomic analysis technologies used by researchers, healthcare providers, pharmaceutical companies and other organizations. Its offerings include next-generation DNA sequencing systems, microarray platforms, consumables, laboratory services and bioinformatics software designed to help analyze genetic variation and biological functions.

The company's sequencing instruments include systems for a range of applications and throughput levels, such as the NovaSeq, NextSeq, MiSeq and iSeq platforms.

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