Aberdeen Group plc Buys 126,584 Shares of Illumina, Inc. $ILMN

Key Points

• Aberdeen Group plc increased its stake in Illumina, Inc. by 54.7% during the first quarter, now owning 357,852 shares valued at approximately $28.39 million.
• Illumina reported earnings of $1.19 per share, exceeding analysts' estimates, but its quarterly revenue of $1.06 billion fell short of predictions.
• The stock currently holds a consensus rating of "Hold" with an average target price of $124.58, as assessed by multiple analysts.

Aberdeen Group plc raised its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 54.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 357,852 shares of the life sciences company's stock after purchasing an additional 126,584 shares during the quarter. Aberdeen Group plc owned 0.23% of Illumina worth $28,392,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Fox Run Management L.L.C. purchased a new position in shares of Illumina during the 1st quarter worth approximately $915,000. Vestmark Advisory Solutions Inc. boosted its position in shares of Illumina by 38.4% during the first quarter. Vestmark Advisory Solutions Inc. now owns 23,830 shares of the life sciences company's stock valued at $1,891,000 after purchasing an additional 6,613 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in Illumina by 3.0% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,604 shares of the life sciences company's stock worth $445,000 after purchasing an additional 164 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Illumina by 2,936.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 577 shares of the life sciences company's stock worth $46,000 after purchasing an additional 558 shares in the last quarter. Finally, S Bank Fund Management Ltd bought a new position in Illumina in the first quarter worth $129,000. Institutional investors own 89.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ILMN shares. Citigroup downgraded Illumina from a "hold" rating to a "strong sell" rating and lowered their price target for the company from $85.00 to $80.00 in a report on Wednesday, July 9th. Morgan Stanley raised their price target on shares of Illumina from $100.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Evercore ISI boosted their price objective on shares of Illumina from $116.00 to $128.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Stephens set a $110.00 price objective on shares of Illumina and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, Piper Sandler cut their target price on shares of Illumina from $190.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Illumina currently has an average rating of "Hold" and an average target price of $124.58.

Illumina Trading Up 3.1%

Shares of ILMN traded up $3.1190 during mid-day trading on Friday, reaching $102.4090. 743,555 shares of the company's stock traded hands, compared to its average volume of 2,329,639. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.81 and a quick ratio of 1.41. The stock's 50-day moving average is $97.88 and its two-hundred day moving average is $89.28. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66. The stock has a market cap of $15.74 billion, a P/E ratio of 12.99, a P/E/G ratio of 2.27 and a beta of 1.37.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.17. The business 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%.The business's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 EPS. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Research analysts forecast that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

About Illumina

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.