Choate Investment Advisors Buys New Shares in Illumina, Inc. $ILMN

Key Points

• Choate Investment Advisors initiated a new position in Illumina during the fourth quarter, buying 19,463 shares valued at about $2.55 million.
• Several other institutional investors also boosted their Illumina holdings, and institutions now own 89.42% of the company’s stock. Recent insider selling included Director Keith A. Meister and SVP Jakob Wedel.
• Analysts remain mixed on the stock, with a consensus rating of “Hold” and an average price target of $137.75. Illumina also beat quarterly earnings and revenue estimates, reporting EPS of $1.15 on revenue of $1.09 billion.

Choate Investment Advisors bought a new stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 19,463 shares of the life sciences company's stock, valued at approximately $2,553,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital World Investors grew its holdings in Illumina by 20.0% during the third quarter. Capital World Investors now owns 19,976,850 shares of the life sciences company's stock worth $1,897,178,000 after purchasing an additional 3,331,542 shares during the period. State Street Corp grew its holdings in Illumina by 6.8% during the third quarter. State Street Corp now owns 5,999,790 shares of the life sciences company's stock worth $569,800,000 after purchasing an additional 382,520 shares during the period. AQR Capital Management LLC grew its holdings in Illumina by 3.1% during the third quarter. AQR Capital Management LLC now owns 3,398,027 shares of the life sciences company's stock worth $315,915,000 after purchasing an additional 102,147 shares during the period. Bank of America Corp DE grew its holdings in Illumina by 1.9% during the second quarter. Bank of America Corp DE now owns 1,930,843 shares of the life sciences company's stock worth $184,222,000 after purchasing an additional 35,167 shares during the period. Finally, ARK Investment Management LLC grew its holdings in Illumina by 25.7% during the third quarter. ARK Investment Management LLC now owns 1,467,879 shares of the life sciences company's stock worth $139,405,000 after purchasing an additional 299,801 shares during the period. Institutional investors own 89.42% of the company's stock.

Insider Activity at Illumina

In other Illumina news, Director Keith A. Meister sold 225,067 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $145.55, for a total transaction of $32,758,501.85. Following the completion of the transaction, the director directly owned 3,604,441 shares in the company, valued at $524,626,387.55. The trade was a 5.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Christensen Jakob Wedel sold 700 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $139.04, for a total transaction of $97,328.00. Following the transaction, the senior vice president owned 15,056 shares of the company's stock, valued at approximately $2,093,386.24. This represents a 4.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 330,160 shares of company stock valued at $48,028,308. Company insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group reiterated a "neutral" rating and set a $135.00 price target on shares of Illumina in a report on Friday, February 6th. Daiwa Securities Group upgraded Illumina from a "neutral" rating to an "outperform" rating and set a $155.00 price target for the company in a report on Thursday, May 14th. Guggenheim lifted their price target on Illumina from $144.00 to $170.00 and gave the stock a "buy" rating in a report on Monday, January 26th. Robert W. Baird set a $137.00 price objective on Illumina in a report on Friday, February 6th. Finally, Piper Sandler reduced their price objective on Illumina from $195.00 to $170.00 and set an "overweight" rating for the company in a report on Monday, February 9th. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $137.75.

Illumina Stock Performance

Shares of ILMN stock opened at $144.41 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.56. The stock has a market cap of $21.85 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 2.39 and a beta of 1.42. The stock has a 50 day simple moving average of $131.02 and a 200 day simple moving average of $131.18. Illumina, Inc. has a 1 year low of $78.55 and a 1 year high of $155.53.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The life sciences company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.10. The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.07 billion. Illumina had a return on equity of 31.01% and a net margin of 19.42%.The firm's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 earnings per share. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, research analysts predict that Illumina, Inc. will post 5.2 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.