Illumina, Inc. $ILMN Stock Purchased by ProShare Advisors LLC

Key Points

• ProShare Advisors increased its Illumina stake 165.8% in the third quarter, adding 18,841 shares to hold 30,204 shares valued at about $8.27 million. Institutional investors and hedge funds collectively own 89.42% of the stock.
• Illumina beat quarterly expectations, reporting adjusted earnings of $1.62 per share versus $1.36 expected and revenue of $1.17 billion versus $1.15 billion expected. Revenue rose 4.2% year over year.
• Insiders sold a combined 1.32 million shares worth about $288 million over the past three months. Analysts’ consensus rating is “Hold,” with an average price target of $244.24.

ProShare Advisors LLC raised its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 165.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,204 shares of the life sciences company's stock after acquiring an additional 18,841 shares during the period. ProShare Advisors LLC's holdings in Illumina were worth $8,266,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Baker Tilly Wealth Management LLC lifted its holdings in shares of Illumina by 3.3% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 1,297 shares of the life sciences company's stock worth $355,000 after purchasing an additional 42 shares during the last quarter. Ashton Thomas Securities LLC boosted its position in Illumina by 3.3% during the 3rd quarter. Ashton Thomas Securities LLC now owns 1,348 shares of the life sciences company's stock valued at $369,000 after purchasing an additional 43 shares during the period. Elevation Wealth Partners LLC grew its stake in Illumina by 19.7% during the 3rd quarter. Elevation Wealth Partners LLC now owns 292 shares of the life sciences company's stock worth $80,000 after buying an additional 48 shares during the last quarter. Evergreen Capital Management LLC grew its stake in Illumina by 0.5% during the 3rd quarter. Evergreen Capital Management LLC now owns 9,474 shares of the life sciences company's stock worth $2,593,000 after buying an additional 50 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in Illumina by 2.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 2,506 shares of the life sciences company's stock worth $686,000 after buying an additional 54 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Keith A. Meister sold 299,336 shares of the company's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $217.96, for a total value of $65,243,274.56. Following the completion of the sale, the director directly owned 1,409,851 shares of the company's stock, valued at approximately $307,291,123.96. This represents a 17.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Christensen Wedel sold 1,033 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $191.52, for a total transaction of $197,840.16. Following the completion of the sale, the senior vice president directly owned 14,023 shares of the company's stock, valued at approximately $2,685,684.96. This represents a 6.86% 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. In the last three months, insiders have sold 1,320,108 shares of company stock worth $288,195,392. 2.90% of the stock is owned by corporate insiders.

Illumina Trading Down 4.9%

NASDAQ:ILMN opened at $226.54 on Thursday. Illumina, Inc. has a 1 year low of $112.65 and a 1 year high of $309.35. The stock has a market cap of $34.25 billion, a price-to-earnings ratio of 38.99, a PEG ratio of 3.23 and a beta of 1.46. The business has a fifty day moving average of $249.77 and a 200-day moving average of $177.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.05 and a current ratio of 2.63.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The life sciences company reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.26. Illumina had a return on equity of 28.38% and a net margin of 19.72%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company earned $1.34 earnings per share. The company's quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts predict that Illumina, Inc. will post 5.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ILMN. Stephens lowered Illumina from an "overweight" rating to an "equal weight" rating and set a $275.00 target price on the stock. in a research report on Friday, October 23rd. Canaccord Genuity Group boosted their price target on shares of Illumina from $205.00 to $300.00 and gave the company a "hold" rating in a report on Monday, October 19th. Citigroup upped their price target on shares of Illumina from $113.00 to $210.00 and gave the stock a "sell" rating in a research report on Monday. UBS Group raised shares of Illumina from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $135.00 to $260.00 in a report on Wednesday, September 9th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Illumina to a "hold" rating in a research report on Wednesday, August 5th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $244.24.

Key Headlines Impacting Illumina

Here are the key news stories impacting Illumina this week:

• Positive Sentiment: Illumina was selected to provide whole-genome sequencing for Singapore’s SG-INSIGHT study, part of the country’s National Precision Medicine program. The study aims to include about 450,000 people, expanding Illumina’s role in a large public-health genomics initiative. The announcement did not disclose contract value or expected revenue, so the immediate financial contribution is unclear. Article: Illumina selected to help bring precision medicine into everyday healthcare in Singapore
• Positive Sentiment: Citigroup raised its price target for Illumina, signaling a more favorable valuation view from the analyst. The available report does not specify the revised target or rationale. Article: Illumina stock gets price target boost from Citigroup
• Neutral Sentiment: Grail reported weaker-than-expected sales of its cancer-detection blood test, sending Grail shares lower. This is not a direct Illumina operating result; any impact on ILMN would be indirect sentiment or read-through, rather than evidence of weaker Illumina sales. Article: Grail Comes Up Short, Reporting Light Sales Of Its Cancer-Detecting Blood Test

Illumina Profile

Illumina, Inc is a biotechnology company that develops and manufactures genomics and genetic-analysis technologies. Its products are used to study DNA and RNA in applications including biomedical research, clinical testing, pharmaceutical development, reproductive health, oncology and population genomics.

The company's offerings include next-generation sequencing systems, consumable flow cells and reagent kits, microarrays, and genomic data-analysis software. Its sequencing portfolio includes instruments such as the NovaSeq, NextSeq, MiSeq and iSeq platforms, while its informatics products include the DRAGEN platform, which supports the processing and interpretation of sequencing data.

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