Illumina, Inc. $ILMN Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. reduced its position in Illumina, Inc. by 57.8%, owning 388,999 shares after selling 533,282 shares in the 2nd quarter, now valued at approximately $37.1 million.
• Other institutional investors like Rise Advisors LLC and Rakuten Securities Inc. significantly increased their stakes in Illumina during the same period, indicating mixed sentiments among investors.
• Analyst ratings for Illumina are varied, with the consensus showing a "Hold" rating and a price target of approximately $123.06, while the stock has shown a decline in quarterly revenue year-over-year.

Assenagon Asset Management S.A. trimmed its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 57.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 388,999 shares of the life sciences company's stock after selling 533,282 shares during the period. Assenagon Asset Management S.A. owned 0.25% of Illumina worth $37,114,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ILMN. Corvex Management LP lifted 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 purchasing an additional 2,129,449 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Illumina by 361.7% in the first quarter. AQR Capital Management LLC now owns 2,121,585 shares of the life sciences company's stock worth $165,484,000 after buying an additional 1,662,093 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Illumina by 11,714.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,161,882 shares of the life sciences company's stock worth $92,184,000 after buying an additional 1,152,048 shares in the last quarter. Brown Advisory Inc. lifted its stake in shares of Illumina by 52.1% in the first quarter. Brown Advisory Inc. now owns 2,909,228 shares of the life sciences company's stock worth $230,818,000 after buying an additional 996,589 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Illumina by 51.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,960,385 shares of the life sciences company's stock worth $155,537,000 after buying an additional 667,978 shares in the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ILMN has been the topic of several research reports. Evercore ISI raised their price target on shares of Illumina from $116.00 to $128.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Canaccord Genuity Group raised their price objective on shares of Illumina from $99.00 to $105.00 and gave the stock a "hold" rating in a research report on Friday, August 1st. Daiwa Capital Markets cut shares of Illumina from an "outperform" rating to a "neutral" rating and set a $94.00 price objective for the company. in a research report on Tuesday, August 12th. Robert W. Baird raised their price objective on shares of Illumina from $84.00 to $105.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, Scotiabank cut shares of Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 price objective for the company. in a research report on Friday, July 11th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $123.06.

Illumina Stock Down 1.2%

Shares of NASDAQ ILMN traded down $1.26 during midday trading on Monday, hitting $101.49. The company's stock had a trading volume of 951,598 shares, compared to its average volume of 1,392,780. The business's fifty day simple moving average is $99.78 and its two-hundred day simple moving average is $89.09. 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 firm has a market capitalization of $15.60 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 2.31 and a beta of 1.43.

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

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.