BlackRock Inc. Acquires Shares of 19,191,398 Illumina, Inc. $ILMN

Key Points

• BlackRock acquired 19.19 million Illumina shares worth approximately $3.37 billion, giving it a 12.71% stake and contributing to institutional investors’ overall 89.42% ownership.
• Illumina exceeded quarterly earnings and revenue expectations, reporting $1.31 EPS and $1.16 billion in revenue, up 9.4% year over year. Analyst sentiment remained mixed, with an average rating of “Hold” and a $188.40 price target.
• Insiders sold 1.42 million shares worth approximately $256 million over the past three months, including a director’s $56.5 million sale, while the stock traded near $188.29.

BlackRock Inc. bought a new position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,191,398 shares of the life sciences company's stock, valued at approximately $3,374,423,000. BlackRock Inc. owned approximately 12.71% of Illumina at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elyxium Wealth LLC bought a new stake in Illumina during the 4th quarter worth approximately $25,000. TD Waterhouse Canada Inc. bought a new position in shares of Illumina in the fourth quarter valued at approximately $26,000. Laurel Wealth Advisors LLC bought a new position in shares of Illumina in the fourth quarter valued at approximately $26,000. Elevation Wealth Partners LLC boosted its position in shares of Illumina by 52.5% during the second quarter. Elevation Wealth Partners LLC now owns 244 shares of the life sciences company's stock valued at $43,000 after buying an additional 84 shares during the last quarter. Finally, Activest Wealth Management boosted its position in shares of Illumina by 671.9% during the fourth quarter. Activest Wealth Management now owns 247 shares of the life sciences company's stock valued at $32,000 after buying an additional 215 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

Illumina Trading Down 2.5%

NASDAQ:ILMN opened at $188.29 on Wednesday. Illumina, Inc. has a 1 year low of $88.00 and a 1 year high of $207.00. The stock's fifty day moving average price is $185.05 and its two-hundred day moving average price is $151.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.80 and a quick ratio of 1.40. The company has a market cap of $28.43 billion, a P/E ratio of 35.13, a P/E/G ratio of 2.69 and a beta of 1.44.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The life sciences company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.08. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. Illumina had a return on equity of 29.84% and a net margin of 18.36%.The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 earnings per share. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. As a group, analysts expect that Illumina, Inc. will post 5.36 EPS for the current year.

Insider Activity

In other news, Director Keith A. Meister sold 283,269 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $199.61, for a total value of $56,543,325.09. Following the completion of the transaction, the director directly owned 2,089,425 shares in the company, valued at approximately $417,070,124.25. This trade represents a 11.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Scott D. Ericksen sold 500 shares of the company's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $160.00, for a total transaction of $80,000.00. Following the sale, the chief accounting officer directly owned 14,446 shares in the company, valued at $2,311,360. This trade represents a 3.35% decrease in their position. 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 1,415,351 shares of company stock valued at $255,966,311. Corporate insiders own 2.90% of the company's stock.

Wall Street Analyst Weigh In

ILMN has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered Illumina to a "hold" rating in a research report on Wednesday, August 5th. Guggenheim increased their target price on shares of Illumina from $200.00 to $226.00 and gave the company a "buy" rating in a report on Friday, July 31st. Evercore reissued an "outperform" rating on shares of Illumina in a research report on Monday, July 6th. Citigroup boosted their price target on shares of Illumina from $95.00 to $113.00 and gave the stock a "sell" rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Illumina from $220.00 to $230.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Illumina presently has an average rating of "Hold" and an average price target of $188.40.

Illumina Profile

Illumina, Inc NASDAQ: ILMN is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company's product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.

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