Mackenzie Financial Corp Has $2.37 Million Stock Position in Illumina, Inc. (NASDAQ:ILMN)

Key Points

• Mackenzie Financial Corp increased its stake in Illumina, Inc. by 41.0%, now owning 29,886 shares valued at over $2.3 million following the purchase of 8,692 additional shares.
• Multiple hedge funds have significantly boosted their holdings in Illumina, with Capital World Investors raising its stake by 408.6% and Brown Advisory Inc. increasing its position by 54,220.9% in the recent quarter.
• Illumina's recent quarterly earnings showed an EPS of $1.19, exceeding analyst expectations by $0.17, despite a 4.8% decline in revenue year-over-year.

Mackenzie Financial Corp boosted its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 41.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,886 shares of the life sciences company's stock after acquiring an additional 8,692 shares during the quarter. Mackenzie Financial Corp's holdings in Illumina were worth $2,371,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ILMN. Freedom Investment Management Inc. increased its stake in shares of Illumina by 3.7% in the 4th quarter. Freedom Investment Management Inc. now owns 2,856 shares of the life sciences company's stock valued at $382,000 after buying an additional 101 shares during the period. Probity Advisors Inc. grew its holdings in shares of Illumina by 12.2% in the 4th quarter. Probity Advisors Inc. now owns 2,054 shares of the life sciences company's stock valued at $274,000 after buying an additional 224 shares during the period. Xponance Inc. grew its position in shares of Illumina by 1.0% in the 1st quarter. Xponance Inc. now owns 26,762 shares of the life sciences company's stock valued at $2,123,000 after purchasing an additional 264 shares during the period. Rakuten Securities Inc. raised its holdings in Illumina by 290.3% during the 1st 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 period. Finally, Golden State Wealth Management LLC boosted its position in shares of Illumina by 123.2% during the first quarter. Golden State Wealth Management LLC now owns 529 shares of the life sciences company's stock worth $42,000 after buying an additional 292 shares during the period. Institutional investors own 89.42% of the company's stock.

Insider Activity

In related news, CFO Ankur Dhingra bought 6,100 shares of the business's stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $81.21 per share, with a total value of $495,381.00. Following the acquisition, the chief financial officer owned 24,906 shares of the company's stock, valued at $2,022,616.26. This represents a 32.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.17% of the company's stock.

Illumina Price Performance

NASDAQ:ILMN traded down $3.33 during trading hours on Wednesday, hitting $94.43. The company's stock had a trading volume of 2,148,890 shares, compared to its average volume of 2,411,677. The company has a market capitalization of $14.51 billion, a P/E ratio of 11.95, a PEG ratio of 2.21 and a beta of 1.37. 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 fifty day simple moving average of $94.47 and a 200-day simple moving average of $92.05. Illumina, Inc. has a twelve month low of $68.70 and a twelve month 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 for the quarter, topping analysts' consensus estimates of $1.02 by $0.17. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.12 billion. Illumina had a return on equity of 28.93% and a net margin of 29.36%. Illumina's quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. On average, analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Analyst Ratings Changes

ILMN has been the topic of several analyst reports. Barclays upped their target price on Illumina from $85.00 to $90.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. Evercore ISI upped their price target 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. Royal Bank Of Canada boosted their price objective on shares of Illumina from $118.00 to $126.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Scotiabank lowered Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 target price on the stock. in a report on Friday, July 11th. Finally, Wall Street Zen downgraded shares of Illumina from a "buy" rating to a "hold" rating in a report on Saturday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $127.74.

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.