Hardman Johnston Global Advisors LLC Raises Holdings in Illumina, Inc. $ILMN

Key Points

• Hardman Johnston Global Advisors LLC increased its holdings in Illumina, Inc. by 23.0%, owning approximately 0.12% of the company valued at $17.63 million.
• The stock received mixed reviews from analysts, with ratings including 6 Buy, 11 Hold, and 2 Sell, while the average price target is set at $123.33.
• Illumina's recent earnings report showed $1.19 earnings per share, exceeding expectations, but revenue was down 4.8% year-over-year.

Hardman Johnston Global Advisors LLC lifted its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 23.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 184,805 shares of the life sciences company's stock after acquiring an additional 34,556 shares during the period. Hardman Johnston Global Advisors LLC owned approximately 0.12% of Illumina worth $17,632,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ILMN. Rise Advisors LLC boosted its stake in Illumina by 173.6% in 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. Rakuten Securities Inc. grew its stake in Illumina by 290.3% during the 1st quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock valued at $29,000 after purchasing an additional 270 shares during the last quarter. Center for Financial Planning Inc. purchased a new stake in Illumina during the 1st quarter valued at about $33,000. PFS Partners LLC grew its stake in Illumina by 400.0% during the 1st quarter. PFS Partners LLC now owns 500 shares of the life sciences company's stock valued at $40,000 after purchasing an additional 400 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its stake in Illumina by 123.2% during the 1st quarter. Golden State Wealth Management LLC now owns 529 shares of the life sciences company's stock valued at $42,000 after purchasing an additional 292 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ILMN shares. Wall Street Zen downgraded Illumina from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Morgan Stanley increased their price objective on shares of Illumina from $100.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Robert W. Baird increased their price objective on shares of Illumina from $84.00 to $105.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Daiwa America lowered shares of Illumina from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 12th. Finally, Barclays upped their price target on shares of Illumina from $90.00 to $95.00 and gave the company an "underweight" rating in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $123.33.

Illumina Trading Down 2.9%

Shares of Illumina stock opened at $99.30 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 1.81. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The firm has a 50-day simple moving average of $99.21 and a two-hundred day simple moving average of $89.73. The company has a market cap of $15.26 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 2.47 and a beta of 1.40.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly 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 firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the business earned $0.36 EPS. Illumina's revenue for the quarter 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 predict that Illumina, Inc. will post 4.51 earnings per share for the current fiscal 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.

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