Hsbc Holdings PLC Reduces Stock Position in Illumina, Inc. $ILMN

Key Points

• HSBC Holdings PLC reduced its Illumina stake by 11.6% in the fourth quarter, selling 15,895 shares and leaving it with 121,245 shares worth about $15.9 million.
• Insider selling has been heavy, with executives including Scott M. Davies and Patricia Leckman selling shares recently; insiders have sold more than 1 million shares valued at roughly $155.7 million over the last 90 days.
• Illumina beat earnings expectations in its latest quarter, reporting $1.15 EPS on $1.09 billion in revenue, while the stock traded near its 52-week high at $177.65 and analysts currently hold a consensus “Hold” rating.

Hsbc Holdings PLC decreased its position in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 11.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 121,245 shares of the life sciences company's stock after selling 15,895 shares during the quarter. Hsbc Holdings PLC owned about 0.08% of Illumina worth $15,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wick Capital Partners LLC purchased a new position in shares of Illumina during the fourth quarter valued at approximately $256,000. Groupama Asset Managment boosted its position in Illumina by 1.5% during the fourth quarter. Groupama Asset Managment now owns 9,205 shares of the life sciences company's stock worth $1,207,000 after acquiring an additional 139 shares during the last quarter. Kera Capital Partners Inc. grew its stake in Illumina by 21.3% in the 4th quarter. Kera Capital Partners Inc. now owns 6,219 shares of the life sciences company's stock worth $901,000 after acquiring an additional 1,091 shares during the period. Virtu Financial LLC purchased a new stake in Illumina in the 4th quarter worth approximately $662,000. Finally, Compound Planning Inc. acquired a new position in Illumina in the 4th quarter valued at $211,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Illumina news, insider Scott M. Davies sold 615 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $180.00, for a total transaction of $110,700.00. Following the sale, the insider owned 20,953 shares in the company, valued at $3,771,540. This represents a 2.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Patricia Leckman sold 783 shares of the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $162.59, for a total value of $127,307.97. Following the sale, the senior vice president directly owned 21,259 shares in the company, valued at approximately $3,456,500.81. This represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,003,769 shares of company stock valued at $155,710,908 over the last 90 days. 2.90% of the stock is owned by company insiders.

Illumina Stock Up 1.5%

Shares of ILMN opened at $177.65 on Friday. Illumina, Inc. has a fifty-two week low of $88.00 and a fifty-two week high of $182.84. The company's fifty day moving average is $148.74 and its two-hundred day moving average is $137.38. The firm has a market cap of $26.88 billion, a PE ratio of 32.30, a price-to-earnings-growth ratio of 3.28 and a beta of 1.50. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.56.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its earnings results on Thursday, April 30th. The life sciences company reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.10. Illumina had a net margin of 19.42% and a return on equity of 31.01%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company earned $0.97 EPS. The company's revenue was up 4.8% on a year-over-year basis. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. Analysts forecast that Illumina, Inc. will post 5.21 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ILMN shares. Weiss Ratings raised Illumina from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, June 3rd. Evercore reaffirmed an "outperform" rating on shares of Illumina in a research report on Friday, May 1st. Royal Bank Of Canada began coverage on Illumina in a research note on Thursday, May 14th. They issued an "outperform" rating and a $170.00 target price for the company. Daiwa Securities Group raised Illumina from a "neutral" rating to an "outperform" rating and set a $155.00 price target on the stock in a research note on Thursday, May 14th. Finally, Canaccord Genuity Group lowered their price target on Illumina from $150.00 to $140.00 and set a "hold" rating for the company in a report on Friday, May 1st. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Illumina has an average rating of "Hold" and a consensus target price of $143.56.

Illumina Company 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.

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