Man Group plc Purchases New Position in Illumina, Inc. $ILMN

Key Points

• Man Group acquired a new Illumina position worth approximately $800,000, while other institutional investors also increased holdings or initiated stakes. Institutions collectively own 89.42% of ILMN.
• Analyst sentiment remains mixed: nine analysts rate Illumina a Buy, seven a Hold, and two a Sell, producing an overall “Hold” consensus with a $191.31 average price target.
• Illumina recently beat quarterly earnings and revenue expectations, with revenue rising 9.4% year over year. However, insiders sold nearly $379.4 million of stock over the past 90 days, including a director’s sale worth $31.7 million.

Man Group plc acquired a new position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,549 shares of the life sciences company's stock, valued at approximately $800,000.

Several other institutional investors and hedge funds have also made changes to their positions in ILMN. Empowered Funds LLC lifted its stake in Illumina by 113.7% in the first quarter. Empowered Funds LLC now owns 9,284 shares of the life sciences company's stock valued at $737,000 after buying an additional 4,940 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Illumina in the 2nd quarter valued at $621,000. CW Advisors LLC purchased a new position in Illumina during the 2nd quarter worth $275,000. Marshall Wace LLP lifted its stake in shares of Illumina by 49.0% in the 2nd quarter. Marshall Wace LLP now owns 59,645 shares of the life sciences company's stock worth $5,691,000 after acquiring an additional 19,618 shares during the period. Finally, Cresset Asset Management LLC boosted its holdings in shares of Illumina by 30.9% in the second quarter. Cresset Asset Management LLC now owns 7,404 shares of the life sciences company's stock valued at $706,000 after acquiring an additional 1,748 shares in the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Illumina from $155.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Zacks Research lowered Illumina from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Guggenheim raised their target price on Illumina from $200.00 to $226.00 and gave the company a "buy" rating in a report on Friday, July 31st. Canaccord Genuity Group boosted their target price on shares of Illumina from $190.00 to $205.00 and gave the stock a "hold" rating in a research report on Monday, August 3rd. Finally, Argus increased their price target on shares of Illumina from $180.00 to $235.00 and gave the company a "buy" rating in a report on Thursday. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Illumina presently has an average rating of "Hold" and a consensus price target of $191.31.

Insider Transactions at Illumina

In other Illumina news, SVP Christensen Wedel sold 1,033 shares of the business's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $191.52, for a total value of $197,840.16. Following the completion of the transaction, the senior vice president directly owned 14,023 shares in the company, valued at approximately $2,685,684.96. The trade was a 6.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith A. Meister sold 138,379 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $228.89, for a total value of $31,673,569.31. Following the sale, the director owned 1,033,910 shares in the company, valued at $236,651,659.90. This trade represents a 11.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,798,905 shares of company stock worth $379,389,923 over the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

Illumina Stock Up 3.9%

ILMN stock opened at $221.66 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.80 and a quick ratio of 1.40. The company's 50 day simple moving average is $197.58 and its 200-day simple moving average is $158.61. Illumina, Inc. has a 12 month low of $88.00 and a 12 month high of $231.81. The firm has a market capitalization of $33.47 billion, a PE ratio of 41.35, a P/E/G ratio of 3.02 and a beta of 1.46.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its earnings results on Thursday, July 30th. The life sciences company reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.08. Illumina had a return on equity of 29.84% and a net margin of 18.36%.The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the company earned $1.19 EPS. Illumina's revenue was up 9.4% on a year-over-year basis. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. Equities analysts expect that Illumina, Inc. will post 5.36 earnings per share for the current fiscal year.

About Illumina

Illumina, Inc NASDAQ: ILMN is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company's product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.

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