GC Wealth Management RIA LLC Makes New Investment in Illumina, Inc. $ILMN

Key Points

• GC Wealth Management RIA LLC initiated a new investment in Illumina, purchasing 23,989 shares valued at approximately $2.29 million during the second quarter.
• Despite recent declines, six analysts rated Illumina with a Buy rating, while eleven gave it a Hold rating, contributing to a consensus target price of $123.06.
• Illumina's latest earnings report indicated an EPS of $1.19, exceeding expectations, but revenue decreased by 4.8% year-over-year, with a revenue of $1.06 billion for the quarter.

GC Wealth Management RIA LLC purchased a new position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,989 shares of the life sciences company's stock, valued at approximately $2,289,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Illumina by 3.5% during the first quarter. Vanguard Group Inc. now owns 16,371,662 shares of the life sciences company's stock worth $1,298,928,000 after acquiring an additional 558,243 shares in the last quarter. WCM Investment Management LLC raised its position in shares of Illumina by 1.2% in the first quarter. WCM Investment Management LLC now owns 4,179,011 shares of the life sciences company's stock valued at $334,321,000 after purchasing an additional 49,156 shares during the period. Corvex Management LP raised its position in shares of Illumina by 125.2% in the first quarter. Corvex Management LP now owns 3,829,608 shares of the life sciences company's stock valued at $303,841,000 after purchasing an additional 2,129,449 shares during the period. Brown Advisory Inc. raised 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 during the period. Finally, AQR Capital Management LLC raised 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 during the period. 89.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ILMN. Morgan Stanley increased their price objective on shares of Illumina from $100.00 to $105.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Stephens set a $110.00 price objective on shares of Illumina and gave the company an "overweight" rating in a research report on Monday, August 4th. Scotiabank lowered shares of Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 price objective on the stock. in a research report on Friday, July 11th. Barclays increased their price objective on shares of Illumina from $85.00 to $90.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Finally, Citigroup lowered shares of Illumina from a "hold" rating to a "strong sell" rating and dropped their price objective for the company from $85.00 to $80.00 in a research report on Wednesday, July 9th. 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. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $123.06.

Illumina Trading Down 0.5%

ILMN stock opened at $91.69 on Monday. 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 company's 50-day simple moving average is $99.62 and its 200 day simple moving average is $89.47. Illumina, Inc. has a 52 week low of $68.70 and a 52 week high of $156.66. The company has a market capitalization of $14.09 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 2.21 and a beta of 1.43.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The life sciences company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.02 by $0.17. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The business 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 company posted $0.36 earnings per share. Illumina'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, sell-side analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current year.

Illumina Company Profile

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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