Morningstar Investment Management LLC Sells 7,355 Shares of Illumina, Inc. $ILMN

Key Points

• Morningstar Investment Management LLC cut its Illumina stake by 24.6% in the fourth quarter, selling 7,355 shares and leaving it with 22,538 shares worth about $2.96 million.
• Several other hedge funds also adjusted positions in Illumina, and the stock remains heavily institutionally owned at 89.42%.
• Illumina beat quarterly earnings and revenue estimates, but analysts are split: the stock’s consensus rating is Hold with an average target price of $137.75, while insiders have also been actively selling shares.

Morningstar Investment Management LLC lessened its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 24.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,538 shares of the life sciences company's stock after selling 7,355 shares during the period. Morningstar Investment Management LLC's holdings in Illumina were worth $2,956,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

ILMN has been the topic of a number of research reports. UBS Group reaffirmed a "neutral" rating and set a $135.00 target price on shares of Illumina in a research report on Friday, February 6th. Citigroup upped their target price on Illumina from $80.00 to $95.00 and gave the stock a "sell" rating in a research report on Monday, May 4th. Barclays upped their target price on Illumina from $110.00 to $122.00 and gave the stock an "underweight" rating in a research report on Friday, May 1st. Evercore reiterated an "outperform" rating on shares of Illumina in a report on Friday, May 1st. Finally, Canaccord Genuity Group decreased their price target on Illumina from $150.00 to $140.00 and set a "hold" rating for the company in a report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $137.75.

Illumina Stock Performance

Shares of Illumina stock opened at $144.41 on Monday. The stock has a fifty day simple moving average of $130.45 and a 200 day simple moving average of $130.99. Illumina, Inc. has a 12-month low of $78.55 and a 12-month high of $155.53. The company has a market capitalization of $21.85 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 2.39 and a beta of 1.42. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.56.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The life sciences company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.10. Illumina had a return on equity of 31.01% and a net margin of 19.42%.The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. Illumina's revenue was up 4.8% compared to the same quarter last year. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, sell-side analysts anticipate that Illumina, Inc. will post 5.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Illumina news, Director Keith A. Meister sold 225,067 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $145.55, for a total value of $32,758,501.85. Following the completion of the transaction, the director owned 3,604,441 shares in the company, valued at $524,626,387.55. This represents a 5.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christensen Jakob Wedel sold 700 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $139.04, for a total value of $97,328.00. Following the completion of the transaction, the senior vice president owned 15,056 shares of the company's stock, valued at $2,093,386.24. This trade represents a 4.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 330,160 shares of company stock valued at $48,028,308 in the last 90 days. Corporate insiders own 2.90% of the company's stock.

Illumina Company Profile

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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