Illumina, Inc. (NASDAQ:ILMN) Shares Bought by LGT Group Foundation

Key Points

• LGT Group Foundation increased its stake in Illumina, Inc. by 42.8% during Q1, now owning 24,786 shares valued at approximately $1.97 million.
• Several hedge funds recently modified their holdings in Illumina, with the majority holding 89.42% of the company's stock, indicating strong institutional interest.
• Illumina reported Q2 earnings of $1.19 per share, exceeding estimates, but revenue fell by 4.8% compared to the previous year, signaling potential challenges ahead.

LGT Group Foundation raised its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 42.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,786 shares of the life sciences company's stock after purchasing an additional 7,428 shares during the quarter. LGT Group Foundation's holdings in Illumina were worth $1,967,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital World Investors boosted its stake in Illumina by 408.6% in the 4th quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company's stock worth $2,408,721,000 after purchasing an additional 14,481,232 shares in the last quarter. Brown Advisory Inc. lifted its stake in Illumina by 54,220.9% during the 4th quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company's stock valued at $255,586,000 after acquiring an additional 1,909,118 shares during the period. Assenagon Asset Management S.A. lifted its stake in Illumina by 2,057.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 922,281 shares of the life sciences company's stock valued at $73,174,000 after acquiring an additional 879,533 shares during the period. Vanguard Group Inc. increased its position in shares of Illumina by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 16,371,662 shares of the life sciences company's stock valued at $1,298,928,000 after purchasing an additional 558,243 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Illumina by 2,292.9% during the 1st quarter. Pacer Advisors Inc. now owns 565,680 shares of the life sciences company's stock valued at $44,881,000 after purchasing an additional 542,040 shares during the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on ILMN. Scotiabank lowered shares of Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 target price for the company. in a report on Friday, July 11th. Canaccord Genuity Group raised their target price on shares of Illumina from $99.00 to $105.00 and gave the company a "hold" rating in a report on Friday, August 1st. Robert W. Baird raised their target price on shares of Illumina from $84.00 to $105.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Royal Bank Of Canada raised their price target on Illumina from $118.00 to $126.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, Daiwa America downgraded Illumina from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Illumina has an average rating of "Hold" and a consensus price target of $124.58.

Illumina Trading Up 0.0%

Shares of NASDAQ:ILMN traded up $0.02 during midday trading on Friday, reaching $100.11. 1,534,729 shares of the company's stock were exchanged, compared to its average volume of 2,368,455. The firm's 50 day simple moving average is $96.46 and its two-hundred day simple moving average is $90.38. 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 has a market cap of $15.39 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 2.27 and a beta of 1.37. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66.

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

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.