Illumina, Inc. $ILMN Shares Sold by Gateway Investment Advisers LLC

Key Points

• Gateway Investment Advisers LLC reduced its holdings in Illumina, Inc. by 15.9%, selling 8,804 shares during the second quarter, bringing their total ownership to 46,735 shares valued at approximately $4.46 million.
• Illumina's recent quarterly earnings reported a $1.19 EPS, exceeding estimates, although revenue declined by 4.8% year-over-year, totaling $1.06 billion.
• Wall Street analysts have varied opinions, with target price estimates ranging from $85 to $128, while the stock currently holds an average rating of "Hold" and a consensus price target of $123.06.

Gateway Investment Advisers LLC lowered its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 15.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,735 shares of the life sciences company's stock after selling 8,804 shares during the quarter. Gateway Investment Advisers LLC's holdings in Illumina were worth $4,459,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ILMN. Moors & Cabot Inc. grew its stake in shares of Illumina by 2.5% in the first quarter. Moors & Cabot Inc. now owns 5,855 shares of the life sciences company's stock valued at $465,000 after buying an additional 145 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in Illumina by 3.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,604 shares of the life sciences company's stock worth $445,000 after purchasing an additional 164 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in Illumina by 0.9% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 22,362 shares of the life sciences company's stock worth $1,774,000 after purchasing an additional 207 shares in the last quarter. Probity Advisors Inc. grew its stake in Illumina by 12.2% during the 4th quarter. Probity Advisors Inc. now owns 2,054 shares of the life sciences company's stock worth $274,000 after purchasing an additional 224 shares in the last quarter. Finally, Rise Advisors LLC grew its stake in Illumina by 173.6% during the 1st quarter. Rise Advisors LLC now owns 353 shares of the life sciences company's stock worth $28,000 after purchasing an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on ILMN. Barclays boosted their target price on Illumina from $85.00 to $90.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. Robert W. Baird boosted their target price on Illumina from $84.00 to $105.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Canaccord Genuity Group upped their price objective on Illumina from $99.00 to $105.00 and gave the stock a "hold" rating in a research report on Friday, August 1st. Stephens set a $110.00 price objective on Illumina and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Evercore ISI upped their price objective on Illumina from $116.00 to $128.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Six equities research 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 a consensus rating of "Hold" and a consensus target price of $123.06.

Illumina Stock Performance

Shares of Illumina stock traded down $0.28 on Friday, hitting $102.75. The stock had a trading volume of 3,621,712 shares, compared to its average volume of 1,309,960. Illumina, Inc. has a 52-week low of $68.70 and a 52-week 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 cap of $15.79 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 2.32 and a beta of 1.43. The company's 50 day moving average price is $99.78 and its 200 day moving average price is $89.04.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share for the quarter, beating 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 business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned $0.36 EPS. The business's quarterly revenue was down 4.8% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. On average, research analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current year.

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.