Swedbank AB Grows Holdings in Illumina, Inc. $ILMN

Key Points

• Swedbank AB significantly increased its stake in Illumina, Inc. by 2,119.3% during the second quarter, acquiring an additional 500,088 shares to bring its total to 523,685 shares, valued at approximately $49.97 million.
• Several hedge funds and institutional investors have also modified their positions in Illumina, with 89.42% of the company currently owned by such entities.
• Illumina's stock saw a slight increase of 2.1% recently, with a consensus rating of "Hold" among analysts and an average price target of $123.06.

Swedbank AB increased its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 2,119.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 523,685 shares of the life sciences company's stock after purchasing an additional 500,088 shares during the period. Swedbank AB owned approximately 0.33% of Illumina worth $49,965,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Corvex Management LP boosted 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 valued at $303,841,000 after acquiring an additional 2,129,449 shares during the period. AQR Capital Management LLC boosted its stake 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. Jacobs Levy Equity Management Inc. boosted its stake in shares of Illumina by 11,714.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,161,882 shares of the life sciences company's stock valued at $92,184,000 after purchasing an additional 1,152,048 shares during the period. Brown Advisory Inc. boosted its position in Illumina by 52.1% in the 1st quarter. Brown Advisory Inc. now owns 2,909,228 shares of the life sciences company's stock valued at $230,818,000 after buying an additional 996,589 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Illumina by 2,057.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 922,281 shares of the life sciences company's stock valued at $73,174,000 after buying an additional 879,533 shares during the period. Hedge funds and other institutional investors own 89.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ILMN. Morgan Stanley lifted their price objective on Illumina from $100.00 to $105.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Wall Street Zen downgraded shares of Illumina from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays upped their price target on Illumina from $85.00 to $90.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. Royal Bank Of Canada set a $124.00 target price on Illumina in a research note on Tuesday, September 2nd. Finally, Evercore ISI increased their target price on shares of Illumina from $116.00 to $128.00 and gave the company an "outperform" rating in a 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. According to MarketBeat.com, Illumina presently has an average rating of "Hold" and a consensus target price of $123.06.

Illumina Trading Down 0.3%

ILMN traded down $0.28 during trading on Friday, hitting $102.75. 3,621,712 shares of the company's stock were exchanged, compared to its average volume of 1,309,960. Illumina, Inc. has a 1 year low of $68.70 and a 1 year high of $156.66. The stock has a 50 day moving average price of $99.78 and a 200 day moving average price of $89.04. 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 firm has a market cap of $15.79 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 2.32 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 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.17. The firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.12 billion. Illumina had a return on equity of 28.93% and a net margin of 29.36%.Illumina's quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. As a group, analysts expect that Illumina, Inc. will post 4.51 EPS for the current fiscal 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.