Baird Financial Group Inc. Decreases Position in Illumina, Inc. $ILMN

Key Points

• Baird Financial Group cut its Illumina stake by 14.6% in the second quarter, selling 31,094 shares and retaining 182,425 shares worth approximately $32.1 million. Institutional investors collectively own 89.42% of the company.
• Illumina insiders have been selling shares, including Director Keith A. Meister’s $26.1 million sale; insiders sold 2.06 million shares worth about $436.6 million over the past three months.
• Illumina exceeded quarterly expectations with $1.31 in EPS and $1.16 billion in revenue, while revenue rose 9.4% year over year. Analysts maintain a consensus “Hold” rating with a $199.12 target price.

Baird Financial Group Inc. lowered its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 14.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 182,425 shares of the life sciences company's stock after selling 31,094 shares during the quarter. Baird Financial Group Inc. owned 0.12% of Illumina worth $32,076,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elyxium Wealth LLC purchased a new stake in Illumina in the fourth quarter worth $25,000. Fiduciary Financial Advisors purchased a new stake in Illumina in the second quarter worth about $26,000. Keating Financial Advisory Services Inc. bought a new position in Illumina during the 2nd quarter valued at approximately $32,000. Quarry LP bought a new position in shares of Illumina during the third quarter valued at $32,000. Finally, Nano Cap New Millennium Growth Fund L P bought a new stake in Illumina during the 4th quarter valued at about $33,000. 89.42% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Keith A. Meister sold 119,501 shares of Illumina stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $218.40, for a total transaction of $26,099,018.40. Following the completion of the sale, the director owned 770,350 shares of the company's stock, valued at $168,244,440. The trade was a 13.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Christensen Wedel sold 1,033 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $191.52, for a total transaction of $197,840.16. Following the transaction, the senior vice president owned 14,023 shares of the company's stock, valued at $2,685,684.96. This represents a 6.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 2,062,465 shares of company stock valued at $436,589,802. Corporate insiders own 2.90% of the company's stock.

Illumina Stock Performance

ILMN stock opened at $201.27 on Friday. The firm has a market cap of $30.39 billion, a price-to-earnings ratio of 37.55, a PEG ratio of 2.90 and a beta of 1.46. Illumina, Inc. has a twelve month low of $88.00 and a twelve month high of $231.81. The business's fifty day simple moving average is $200.54 and its two-hundred day simple moving average is $161.87. 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 posted its quarterly earnings results on Thursday, July 30th. The life sciences company reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.08. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Illumina had a return on equity of 29.84% and a net margin of 18.36%.The business's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.19 EPS. 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 Upgrades and Downgrades

A number of brokerages have recently issued reports on ILMN. Guggenheim upped their price target on Illumina from $200.00 to $226.00 and gave the company a "buy" rating in a report on Friday, July 31st. Stifel Nicolaus boosted their price objective on shares of Illumina from $155.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Citigroup increased their target price on shares of Illumina from $95.00 to $113.00 and gave the stock a "sell" rating in a report on Monday, August 3rd. Barclays boosted their price objective on Illumina from $145.00 to $160.00 and gave the company an "underweight" rating in a research report on Friday, July 31st. Finally, Evercore reissued an "outperform" rating on shares of Illumina in a report on Monday, July 6th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $199.12.

Illumina Company Profile

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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