Baird Financial Group Inc. Acquires 383,409 Shares of Illumina, Inc. $ILMN

Key Points

• Baird Financial Group Inc. significantly increased its holdings in Illumina, Inc. by 1,324.9% in the first quarter, owning a total of 412,348 shares valued at approximately $32.7 million.
• Illumina's recent quarterly earnings report showed an EPS of $1.19, surpassing estimates, but revenue of $1.06 billion was below the expected $1.12 billion, marking a 4.8% decline year-over-year.
• Analysts have varying ratings for Illumina, with a consensus rating of "Hold" and an average price target of $123.17, reflecting a mix of perspectives on the stock's potential.

Baird Financial Group Inc. lifted its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 1,324.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 412,348 shares of the life sciences company's stock after purchasing an additional 383,409 shares during the period. Baird Financial Group Inc. owned about 0.26% of Illumina worth $32,716,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Diversified Trust Co bought a new stake in Illumina in the 1st quarter worth $355,000. State of Alaska Department of Revenue boosted its stake in shares of Illumina by 2.5% during the 1st quarter. State of Alaska Department of Revenue now owns 18,527 shares of the life sciences company's stock valued at $1,469,000 after purchasing an additional 445 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Illumina by 4.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 199,176 shares of the life sciences company's stock valued at $15,803,000 after purchasing an additional 9,252 shares in the last quarter. Merit Financial Group LLC boosted its stake in shares of Illumina by 344.8% during the 1st quarter. Merit Financial Group LLC now owns 13,036 shares of the life sciences company's stock valued at $1,034,000 after purchasing an additional 10,105 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Illumina by 13.5% during the 1st quarter. Citigroup Inc. now owns 150,764 shares of the life sciences company's stock valued at $11,962,000 after purchasing an additional 17,985 shares in the last quarter. Institutional investors own 89.42% of the company's stock.

Illumina Stock Performance

Shares of ILMN stock traded up $1.61 during trading hours on Thursday, reaching $97.68. The company had a trading volume of 1,137,554 shares, compared to its average volume of 2,287,629. The business has a fifty day moving average price of $99.47 and a 200-day moving average price of $88.58. Illumina, Inc. has a one year low of $68.70 and a one year high of $156.66. The firm has a market cap of $15.01 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 2.25 and a beta of 1.43. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 1.81.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Illumina from $100.00 to $105.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. 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. Royal Bank Of Canada set a $124.00 price target on shares of Illumina in a research report on Tuesday. Daiwa Capital Markets cut shares of Illumina from an "outperform" rating to a "neutral" rating and set a $94.00 price target for the company. in a research report on Tuesday, August 12th. Finally, Guggenheim lowered their price target on shares of Illumina from $122.00 to $114.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Illumina presently has a consensus rating of "Hold" and an average target price of $123.06.

Illumina 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.