Harrell Investment Partners LLC Makes New Investment in Illumina, Inc. $ILMN

Key Points

• Harrell Investment Partners LLC has acquired 3,922 shares of Illumina, Inc., valued at approximately $374,000, in the second quarter, indicating growing interest from institutional investors.
• Illumina's recent quarterly earnings showed an EPS of $1.19, exceeding estimates, yet revenue fell by 4.8% year-over-year to $1.06 billion.
• Several analysts have upgraded or adjusted their price targets for Illumina, with a consensus rating of "Hold" and an average price target of $123.06.

Harrell Investment Partners LLC purchased a new position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,922 shares of the life sciences company's stock, valued at approximately $374,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Illumina by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 16,371,662 shares of the life sciences company's stock worth $1,298,928,000 after purchasing an additional 558,243 shares during the last quarter. WCM Investment Management LLC raised its holdings in Illumina by 1.2% during the 1st quarter. WCM Investment Management LLC now owns 4,179,011 shares of the life sciences company's stock worth $334,321,000 after purchasing an additional 49,156 shares during the last quarter. Corvex Management LP raised its holdings in Illumina by 125.2% during the 1st quarter. Corvex Management LP now owns 3,829,608 shares of the life sciences company's stock worth $303,841,000 after purchasing an additional 2,129,449 shares during the last quarter. Brown Advisory Inc. raised its holdings in Illumina by 52.1% during the 1st quarter. Brown Advisory Inc. now owns 2,909,228 shares of the life sciences company's stock worth $230,818,000 after purchasing an additional 996,589 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Illumina by 361.7% during the 1st quarter. AQR Capital Management LLC now owns 2,121,585 shares of the life sciences company's stock worth $165,484,000 after purchasing an additional 1,662,093 shares during the last quarter. Institutional investors own 89.42% of the company's stock.

Illumina Stock Performance

NASDAQ ILMN opened at $94.41 on Thursday. The company has a fifty day simple moving average of $99.83 and a 200 day simple moving average of $89.30. 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 company has a market cap of $14.51 billion, a P/E ratio of 11.95, a PEG ratio of 2.40 and a beta of 1.43.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share (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 during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm posted $0.36 EPS. 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. Sell-side analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ILMN. Royal Bank Of Canada set a $124.00 price objective on shares of Illumina in a research note on Tuesday, September 2nd. Daiwa America lowered shares of Illumina from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 12th. Evercore ISI lifted their price objective on shares of Illumina from $116.00 to $128.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Morgan Stanley lifted their price objective on shares of Illumina from $100.00 to $105.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Finally, Stephens set a $110.00 price objective on shares of Illumina and gave the company an "overweight" rating in a research note on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $123.06.

Illumina 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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