Pacer Advisors Inc. Decreases Stake in Illumina, Inc. $ILMN

Key Points

• Pacer Advisors Inc. cut its Illumina stake by 28.6% in the fourth quarter, selling 185,657 shares and ending with 463,633 shares worth about $60.8 million.
• Institutional ownership remains high, with hedge funds and other investors holding 89.42% of Illumina’s stock, even as some firms recently added to or reduced positions.
• Insider activity has skewed toward selling: director Keith A. Meister and SVP Patricia Leckman both sold shares, and insiders sold more than 1 million shares over the last three months.

Pacer Advisors Inc. lessened its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 28.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 463,633 shares of the life sciences company's stock after selling 185,657 shares during the quarter. Pacer Advisors Inc. owned approximately 0.30% of Illumina worth $60,810,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Empowered Funds LLC boosted its position in 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 acquiring an additional 4,940 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Illumina in the 2nd quarter valued at about $621,000. CW Advisors LLC acquired a new stake in Illumina in the 2nd quarter valued at about $275,000. Marshall Wace LLP lifted its stake in 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 purchasing an additional 19,618 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its stake in Illumina by 30.9% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 235,000 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $163.63, for a total transaction of $38,453,050.00. Following the completion of the sale, the director directly owned 2,830,452 shares of the company's stock, valued at approximately $463,146,860.76. This trade represents a 7.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Patricia Leckman sold 783 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $162.59, for a total transaction of $127,307.97. Following the completion of the sale, the senior vice president owned 21,259 shares in the company, valued at approximately $3,456,500.81. This trade represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,003,154 shares of company stock valued at $155,600,208. 2.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ILMN has been the subject of a number of analyst reports. Wall Street Zen lowered Illumina from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 9th. Guggenheim lifted their price objective on Illumina from $170.00 to $180.00 and gave the stock a "buy" rating in a research report on Monday, June 1st. Citigroup boosted their price objective on Illumina from $80.00 to $95.00 and gave the stock a "sell" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. upgraded Illumina from a "neutral" rating to an "overweight" rating and upped their target price for the company from $125.00 to $185.00 in a report on Wednesday, June 10th. Finally, Barclays raised their target price on Illumina from $110.00 to $122.00 and gave the stock an "underweight" rating in a research note on Friday, May 1st. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Illumina has a consensus rating of "Hold" and an average target price of $142.12.

Illumina Stock Performance

Illumina stock opened at $161.93 on Friday. The firm has a 50 day simple moving average of $144.52 and a 200-day simple moving average of $135.98. The stock has a market cap of $24.50 billion, a price-to-earnings ratio of 29.44, a price-to-earnings-growth ratio of 2.98 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.75 and a quick ratio of 1.36. Illumina, Inc. has a 1-year low of $88.00 and a 1-year high of $177.22.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The life sciences company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.05 by $0.10. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. Illumina had a net margin of 19.42% and a return on equity of 31.01%. The business's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.97 EPS. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, analysts expect that Illumina, Inc. will post 5.21 EPS for the current 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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