Illumina, Inc. (NASDAQ:ILMN) Shares Purchased by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. increased its stake in Illumina, Inc. by 2,292.9% in Q1, acquiring 542,040 additional shares for a total of 565,680 shares valued at approximately $44.88 million.
• Other hedge funds have also boosted their holdings, with Capital World Investors raising its position by 408.6%, now owning over 18 million shares worth about $2.41 billion.
• Analysts have mixed views on Illumina, with price targets ranging from $85.00 to $128.00, resulting in a consensus rating of "Hold" and an average target price of $125.11.

Pacer Advisors Inc. raised its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 2,292.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 565,680 shares of the life sciences company's stock after purchasing an additional 542,040 shares during the period. Pacer Advisors Inc. owned 0.36% of Illumina worth $44,881,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Rakuten Securities Inc. lifted its stake in shares of Illumina by 290.3% in the first quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock worth $29,000 after buying an additional 270 shares during the last quarter. Center for Financial Planning Inc. bought a new stake in shares of Illumina during the first quarter worth about $33,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Illumina during the 4th quarter worth approximately $40,000. PFS Partners LLC lifted its holdings in shares of Illumina by 400.0% in the 1st quarter. PFS Partners LLC now owns 500 shares of the life sciences company's stock worth $40,000 after purchasing an additional 400 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its position in shares of Illumina by 123.2% during the 1st quarter. Golden State Wealth Management LLC now owns 529 shares of the life sciences company's stock valued at $42,000 after purchasing an additional 292 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ILMN has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Illumina from $120.00 to $85.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Stephens reiterated an "overweight" rating and issued a $105.00 price objective on shares of Illumina in a report on Tuesday, May 20th. Guggenheim dropped their target price on Illumina from $122.00 to $114.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Royal Bank Of Canada cut their price objective on shares of Illumina from $128.00 to $112.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. 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 research note on Tuesday, July 8th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $125.89.

Insider Transactions at Illumina

In other news, CFO Ankur Dhingra purchased 6,100 shares of Illumina stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average price of $81.21 per share, with a total value of $495,381.00. Following the completion of the transaction, the chief financial officer directly owned 24,906 shares of the company's stock, valued at approximately $2,022,616.26. The trade was a 32.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is owned by insiders.

Illumina Price Performance

Shares of ILMN stock traded down $1.20 during mid-day trading on Wednesday, reaching $107.51. The stock had a trading volume of 377,689 shares, compared to its average volume of 2,380,254. The company has a market cap of $17.02 billion, a P/E ratio of -17.69, a price-to-earnings-growth ratio of 2.15 and a beta of 1.36. Illumina, Inc. has a 12-month low of $68.70 and a 12-month high of $156.66. The company has a current ratio of 1.86, a quick ratio of 1.48 and a debt-to-equity ratio of 0.63. The business has a 50-day simple moving average of $92.53 and a 200 day simple moving average of $93.37.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. Illumina had a positive return on equity of 25.54% and a negative net margin of 22.25%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current 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.