Avanza Fonder AB Sells 8,949 Shares of Illumina, Inc. $ILMN

Key Points

• Avanza Fonder AB reduced its stake in Illumina, Inc. by 44.0%, selling 8,949 shares, leaving it with 11,396 shares valued at approximately $1,087,000.
• Several institutional investors have changed their holdings in Illumina, with companies like Moors & Cabot Inc. and Rise Advisors LLC increasing their stakes in the 1st quarter.
• Illumina reported earnings of $1.19 per share for the last quarter, exceeding estimates of $1.02, but experienced a 4.8% decline in revenue year-over-year.

Avanza Fonder AB lowered its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 44.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,396 shares of the life sciences company's stock after selling 8,949 shares during the period. Avanza Fonder AB's holdings in Illumina were worth $1,087,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Moors & Cabot Inc. boosted its holdings in Illumina by 2.5% in the first quarter. Moors & Cabot Inc. now owns 5,855 shares of the life sciences company's stock valued at $465,000 after acquiring an additional 145 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Illumina by 3.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,604 shares of the life sciences company's stock valued at $445,000 after buying an additional 164 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its position in shares of Illumina by 0.9% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 22,362 shares of the life sciences company's stock worth $1,774,000 after buying an additional 207 shares during the period. Probity Advisors Inc. increased its stake in shares of Illumina by 12.2% in the 4th quarter. Probity Advisors Inc. now owns 2,054 shares of the life sciences company's stock worth $274,000 after acquiring an additional 224 shares in the last quarter. Finally, Rise Advisors LLC lifted its position in Illumina by 173.6% during the 1st quarter. Rise Advisors LLC now owns 353 shares of the life sciences company's stock valued at $28,000 after acquiring an additional 224 shares during the period. Institutional investors own 89.42% of the company's stock.

Illumina Stock Performance

ILMN opened at $101.49 on Tuesday. 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 company has a market cap of $15.60 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 2.31 and a beta of 1.43. The company's 50 day moving average is $99.83 and its 200 day moving average is $89.19. 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 quarterly earnings data on Thursday, July 31st. The life sciences company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.17. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.12 billion. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The firm's revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. On average, equities research analysts predict that Illumina, Inc. will post 4.51 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ILMN shares. Canaccord Genuity Group lifted their price target on shares of Illumina from $99.00 to $105.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Robert W. Baird lifted their price target on shares of Illumina from $84.00 to $105.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Scotiabank cut shares of Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 price target for the company. in a research report on Friday, July 11th. Evercore ISI lifted their price target on shares of Illumina from $116.00 to $128.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada set a $124.00 price target on shares of Illumina in a research report on Tuesday, September 2nd. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.