Old West Investment Management LLC purchased a new stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 127,804 shares of the life sciences company's stock, valued at approximately $22,472,000. Illumina accounts for approximately 2.4% of Old West Investment Management LLC's holdings, making the stock its 5th largest holding. Old West Investment Management LLC owned about 0.08% of Illumina at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. HighPoint Advisor Group LLC raised its position in Illumina by 3.7% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,218 shares of the life sciences company's stock valued at $291,000 after purchasing an additional 80 shares during the last quarter. Elevation Wealth Partners LLC boosted its holdings in Illumina by 52.5% in the second quarter. Elevation Wealth Partners LLC now owns 244 shares of the life sciences company's stock valued at $43,000 after acquiring an additional 84 shares in the last quarter. Meeder Advisory Services Inc. increased its position in Illumina by 3.1% during the 1st quarter. Meeder Advisory Services Inc. now owns 2,822 shares of the life sciences company's stock valued at $348,000 after purchasing an additional 85 shares during the period. Toronto Dominion Bank increased its position in Illumina by 0.3% during the 4th quarter. Toronto Dominion Bank now owns 33,605 shares of the life sciences company's stock valued at $4,407,000 after purchasing an additional 92 shares during the period. Finally, Panagora Asset Management Inc. raised its holdings in Illumina by 3.9% in the 4th quarter. Panagora Asset Management Inc. now owns 2,536 shares of the life sciences company's stock worth $333,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on ILMN. TD Cowen raised their target price on shares of Illumina from $192.00 to $210.00 and gave the stock a "hold" rating in a research report on Friday, July 31st. Royal Bank Of Canada increased their price target on shares of Illumina from $170.00 to $230.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Illumina from $220.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Wall Street Zen raised Illumina from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Finally, Piper Sandler reiterated an "overweight" rating and set a $225.00 target price (up from $200.00) on shares of Illumina in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $188.40.
View Our Latest Stock Analysis on Illumina
Insider Buying and Selling
In other news, insider Scott M. Davies sold 615 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $200.00, for a total value of $123,000.00. Following the sale, the insider directly owned 20,338 shares of the company's stock, valued at approximately $4,067,600. This represents a 2.94% decrease in their ownership of the stock. The transaction 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 457,858 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $200.10, for a total value of $91,617,385.80. Following the transaction, the director owned 2,372,694 shares of the company's stock, valued at $474,776,069.40. The trade was a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,415,351 shares of company stock worth $255,966,311 in the last 90 days. Corporate insiders own 2.90% of the company's stock.
Illumina Stock Performance
NASDAQ:ILMN opened at $190.89 on Monday. Illumina, Inc. has a one year low of $88.00 and a one year high of $207.00. 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 $183.78 and its 200 day simple moving average is $150.54. The firm has a market capitalization of $28.82 billion, a P/E ratio of 35.61, a PEG ratio of 2.69 and a beta of 1.44.
Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The life sciences company reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.08. Illumina had a net margin of 18.36% and a return on equity of 29.84%. The business had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the prior year, the company earned $1.19 earnings per share. The business's revenue was up 9.4% compared to the same quarter last year. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. As a group, analysts forecast that Illumina, Inc. will post 5.36 EPS for the current fiscal year.
About Illumina
(
Free Report)
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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