Illumina, Inc. $ILMN Shares Sold by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board reduced its stake in Illumina, Inc. by 5.7%, now holding approximately 0.25% of the company valued at $30.9 million.
• Illumina reported earnings of $1.19 per share in its recent quarter, beating estimates, but its revenue of $1.06 billion missed analysts' expectations of $1.12 billion.
• The stock underwent significant price target adjustments, with analysts setting new targets ranging from $80.00 to $126.00, reflecting mixed sentiments on its performance.

Canada Pension Plan Investment Board decreased its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 5.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 389,986 shares of the life sciences company's stock after selling 23,506 shares during the period. Canada Pension Plan Investment Board owned 0.25% of Illumina worth $30,941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Lido Advisors LLC raised its stake in Illumina by 18.1% during the fourth quarter. Lido Advisors LLC now owns 3,392 shares of the life sciences company's stock worth $453,000 after purchasing an additional 521 shares during the period. Keel Point LLC acquired a new stake in shares of Illumina in the fourth quarter worth $204,000. BNP Paribas Financial Markets increased its position in shares of Illumina by 100.5% in the fourth quarter. BNP Paribas Financial Markets now owns 590,287 shares of the life sciences company's stock worth $78,880,000 after acquiring an additional 295,896 shares in the last quarter. BNP Paribas acquired a new stake in shares of Illumina in the fourth quarter worth $302,000. Finally, Benjamin Edwards Inc. acquired a new stake in shares of Illumina in the fourth quarter worth $541,000. Hedge funds and other institutional investors own 89.42% of the company's stock.

Illumina Stock Up 1.7%

NASDAQ ILMN traded up $1.61 during trading hours on Thursday, reaching $97.68. 1,137,554 shares of the company traded hands, compared to its average volume of 2,287,629. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $15.01 billion, a PE ratio of 12.36, a PEG ratio of 2.25 and a beta of 1.43. The company has a 50 day moving average of $99.47 and a two-hundred day moving average of $88.58.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The life sciences company reported $1.19 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the firm posted $0.36 EPS. The firm's revenue 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, equities analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ILMN. Citigroup lowered shares of Illumina from a "hold" rating to a "strong sell" rating and dropped their price objective for the stock from $85.00 to $80.00 in a research report on Wednesday, July 9th. Morgan Stanley raised their price target on shares of Illumina from $100.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Barclays raised their price target on shares of Illumina from $85.00 to $90.00 and gave the company an "underweight" rating in a report on Friday, August 1st. Canaccord Genuity Group raised their price target on shares of Illumina from $99.00 to $105.00 and gave the company a "hold" rating in a report on Friday, August 1st. Finally, Wall Street Zen lowered shares of Illumina from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target 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.