Baillie Gifford & Co. Has $238.88 Million Position in Illumina, Inc. (NASDAQ:ILMN)

Key Points

• Baillie Gifford & Co. reduced its stake in Illumina, Inc. by 0.2% to approximately 3,010,792 shares, valued at $238.88 million, after selling 7,401 shares in the first quarter.
• Despite Baillie Gifford's decrease, other institutional investors increased their positions, with Pacer Advisors experiencing a significant growth of 2,292.9% by acquiring 542,040 shares during the same period.
• The company reported a quarterly earnings beat with $0.97 EPS, slightly surpassing estimates, and generated $1.04 billion in revenue, though this reflects a 1.4% decline year-over-year.

Baillie Gifford & Co. decreased its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 0.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,010,792 shares of the life sciences company's stock after selling 7,401 shares during the quarter. Baillie Gifford & Co. owned about 1.90% of Illumina worth $238,876,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wilkins Investment Counsel Inc. lifted its holdings in Illumina by 36.3% in the first quarter. Wilkins Investment Counsel Inc. now owns 138,208 shares of the life sciences company's stock worth $10,965,000 after purchasing an additional 36,822 shares during the period. Pacer Advisors Inc. lifted its holdings in Illumina by 2,292.9% in the first quarter. Pacer Advisors Inc. now owns 565,680 shares of the life sciences company's stock worth $44,881,000 after purchasing an additional 542,040 shares during the period. Neo Ivy Capital Management acquired a new stake in Illumina in the first quarter worth about $559,000. Cetera Investment Advisers lifted its holdings in Illumina by 13.7% in the 1st quarter. Cetera Investment Advisers now owns 26,280 shares of the life sciences company's stock valued at $2,085,000 after acquiring an additional 3,173 shares during the last quarter. Finally, Mendel Money Management lifted its holdings in Illumina by 22.1% in the 1st quarter. Mendel Money Management now owns 3,668 shares of the life sciences company's stock valued at $291,000 after acquiring an additional 663 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

Insider Buying and Selling at Illumina

In other news, CFO Ankur Dhingra acquired 6,100 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the completion of the acquisition, the chief financial officer owned 24,906 shares of the company's stock, valued at approximately $2,022,616.26. This represents a 32.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ILMN shares. Stephens reissued an "overweight" rating and issued a $105.00 price target on shares of Illumina in a report on Tuesday, May 20th. Evercore ISI upped their price target on shares of Illumina from $116.00 to $128.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Robert W. Baird upped their price target on shares of Illumina from $84.00 to $105.00 and gave the company a "neutral" rating in a report on Monday. Barclays reissued an "underweight" rating and issued a $85.00 price target (up from $77.00) on shares of Illumina in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada cut their price target on shares of Illumina from $128.00 to $112.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $125.89.

Illumina Stock Down 2.0%

Shares of ILMN traded down $2.16 during trading hours on Tuesday, reaching $107.72. The company's stock had a trading volume of 569,836 shares, compared to its average volume of 2,383,037. The firm has a market cap of $17.05 billion, a price-to-earnings ratio of -17.75, a P/E/G ratio of 2.14 and a beta of 1.36. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66. The company has a quick ratio of 1.48, a current ratio of 1.86 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $92.04 and a two-hundred day moving average of $93.27.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Illumina had a positive return on equity of 25.54% and a negative net margin of 22.25%. The firm's quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. As a group, research analysts predict that Illumina, Inc. will post 4.51 EPS for the current fiscal 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.