Ballentine Partners LLC Boosts Stock Holdings in Illumina, Inc. $ILMN

Key Points

• Ballentine Partners LLC increased its holdings in Illumina, Inc. by 311.3%, owning a total of 10,707 shares worth approximately $1,022,000.
• Illumina reported earnings of $1.19 per share for the latest quarter, exceeding expectations, despite a 4.8% decrease in quarterly revenue compared to the previous year.
• The company's stock is currently trading at $92.19, reflecting a 2.4% decline, with a fifty-two week range between $68.70 and $156.66.

Ballentine Partners LLC boosted its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 311.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,707 shares of the life sciences company's stock after buying an additional 8,104 shares during the period. Ballentine Partners LLC's holdings in Illumina were worth $1,022,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Illumina by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 16,371,662 shares of the life sciences company's stock worth $1,298,928,000 after buying an additional 558,243 shares in the last quarter. WCM Investment Management LLC increased its stake in Illumina by 1.2% during the 1st quarter. WCM Investment Management LLC now owns 4,179,011 shares of the life sciences company's stock worth $334,321,000 after buying an additional 49,156 shares in the last quarter. Corvex Management LP increased its stake in Illumina by 125.2% during the 1st quarter. Corvex Management LP now owns 3,829,608 shares of the life sciences company's stock worth $303,841,000 after buying an additional 2,129,449 shares in the last quarter. Brown Advisory Inc. grew its position 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 valued at $230,818,000 after purchasing an additional 996,589 shares in the last quarter. Finally, AQR Capital Management LLC grew its position 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 valued at $165,484,000 after purchasing an additional 1,662,093 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Trading Down 2.4%

Shares of Illumina stock opened at $92.19 on Friday. The firm has a market capitalization of $14.17 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 2.28 and a beta of 1.43. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 1.81. The stock has a 50 day moving average of $99.71 and a 200 day moving average of $89.34.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The life sciences company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.17. Illumina had a return on equity of 28.93% and a net margin of 29.36%.The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the business posted $0.36 earnings per share. The firm'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. As a group, research analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Daiwa America lowered Illumina from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 12th. Wall Street Zen lowered Illumina from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Royal Bank Of Canada set a $124.00 price target on Illumina in a research report on Tuesday, September 2nd. Citigroup lowered Illumina from a "hold" rating to a "strong sell" rating and dropped their price target for the company from $85.00 to $80.00 in a research report on Wednesday, July 9th. Finally, Canaccord Genuity Group upped their price target on Illumina from $99.00 to $105.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Six 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 has an average rating of "Hold" and an average target price of $123.06.

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.

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