Illumina, Inc. $ILMN Stock Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management increased its Illumina stake by 36% in the third quarter, bringing its holdings to 20,671 shares worth approximately $5.7 million. Institutional investors and hedge funds collectively own 89.42% of the stock.
• Analyst sentiment is mixed but generally positive: UBS upgraded Illumina to “Buy,” while several firms raised their price targets as high as $310. Despite this, the consensus rating remains “Hold,” with an average target of $231.88.
• Illumina shares opened at $282.86, up 5.6%, after the company reported quarterly earnings and revenue above analyst expectations. However, insiders sold more than 2 million shares worth approximately $436.5 million over the prior three months.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 36.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,671 shares of the life sciences company's stock after purchasing an additional 5,467 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Illumina were worth $5,657,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new position in Illumina during the second quarter valued at about $3,374,423,000. Primecap Management Co. CA acquired a new stake in Illumina in the 2nd quarter valued at about $617,981,000. Jupiter Topco LLC bought a new position in shares of Illumina during the 2nd quarter valued at about $358,652,000. WCM Investment Management LLC boosted its position in shares of Illumina by 45.5% during the 1st quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company's stock valued at $715,579,000 after purchasing an additional 1,851,848 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Illumina during the 2nd quarter valued at about $293,846,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. UBS Group upgraded shares of Illumina from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $135.00 to $260.00 in a report on Wednesday, September 9th. Evercore restated an "outperform" rating on shares of Illumina in a report on Monday, July 6th. Argus lifted their price target on shares of Illumina from $180.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, September 3rd. Royal Bank Of Canada lifted their price target on shares of Illumina from $230.00 to $310.00 and gave the stock an "outperform" rating in a research report on Monday, October 5th. Finally, Leerink Partners upped their price target on Illumina from $220.00 to $300.00 and gave the company an "outperform" rating in a report on Tuesday, September 29th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Illumina has an average rating of "Hold" and an average price target of $231.88.

Insider Buying and Selling

In related news, SVP Christensen Wedel sold 1,033 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were 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 in the company, valued at approximately $2,685,684.96. This trade represents a 6.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith Meister sold 119,501 shares of the business's stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $218.40, for a total transaction of $26,099,018.40. Following the transaction, the director directly owned 770,350 shares in the company, valued at $168,244,440. The trade was a 13.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,061,850 shares of company stock valued at $436,479,102 over the last three months. 2.90% of the stock is owned by insiders.

Illumina Stock Up 5.6%

NASDAQ:ILMN opened at $282.86 on Thursday. The business's fifty day moving average price is $239.24 and its 200 day moving average price is $189.54. The firm has a market capitalization of $42.71 billion, a price-to-earnings ratio of 52.77, a PEG ratio of 3.79 and a beta of 1.41. The company has a current ratio of 1.80, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. Illumina, Inc. has a 1-year low of $94.00 and a 1-year high of $309.35.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The life sciences company reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.08. Illumina had a return on equity of 29.84% and a net margin of 18.36%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company posted $1.19 EPS. The business's quarterly revenue was up 9.4% compared to the same quarter last year. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. On average, sell-side analysts forecast that Illumina, Inc. will post 5.36 earnings per share for the current fiscal year.

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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