Jefferies Financial Group Inc. Invests $5.20 Million in Illumina, Inc. (NASDAQ:ILMN)

Key Points

• Jefferies Financial Group Inc. has acquired a new stake in Illumina, purchasing 65,500 shares valued at approximately $5.2 million during the first quarter.
• Illumina reported a quarterly revenue of $1.06 billion, which is below analysts' estimates of $1.12 billion, showing a 4.8% year-over-year decline.
• Analysts have mixed ratings on Illumina, with a consensus of "Hold" and an average price target of $127.21, while some firms have raised their price objectives on the stock.

Jefferies Financial Group Inc. bought a new position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 65,500 shares of the life sciences company's stock, valued at approximately $5,197,000.

Several other large investors have also added to or reduced their stakes in ILMN. Rakuten Securities Inc. grew its holdings 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 valued at $29,000 after purchasing an additional 270 shares in the last quarter. Center for Financial Planning Inc. purchased a new position in shares of Illumina in the 1st quarter worth $33,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Illumina during the 4th quarter valued at about $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 valued at $40,000 after acquiring an additional 400 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its position in Illumina by 123.2% in the first quarter. Golden State Wealth Management LLC now owns 529 shares of the life sciences company's stock worth $42,000 after acquiring an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.

Illumina Stock Performance

Shares of NASDAQ:ILMN traded up $3.78 during trading on Monday, hitting $98.44. The company's stock had a trading volume of 2,360,354 shares, compared to its average volume of 2,418,604. The firm has a market cap of $15.58 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 1.75 and a beta of 1.37. The company has a 50-day moving average of $93.80 and a 200-day moving average of $92.28. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.81 and a quick ratio of 1.41.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its earnings results on Thursday, July 31st. The life sciences company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.17. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.12 billion. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The firm's revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. On average, sell-side analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ILMN. Scotiabank downgraded Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 price target on the stock. in a report on Friday, July 11th. Piper Sandler cut their price target on shares of Illumina from $190.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Evercore ISI raised their target price on shares of Illumina from $116.00 to $128.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. decreased their price target on shares of Illumina from $120.00 to $85.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Finally, Morgan Stanley raised their price objective on Illumina from $100.00 to $105.00 and gave the stock an "equal weight" rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $127.47.

Insider Buying and Selling at Illumina

In related news, CFO Ankur Dhingra bought 6,100 shares of the stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $81.21 per share, for a total transaction of $495,381.00. Following the acquisition, the chief financial officer owned 24,906 shares in the company, valued at $2,022,616.26. This represents a 32.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

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.