PGGM Investments Increases Position in Illumina, Inc. $ILMN

Key Points

• PGGM Investments increased its stake in Illumina by 115.1%, owning over 1.1 million shares, making it the 18th largest holding in their portfolio.
• Recent analyst reports have set target prices for Illumina with a range from $94.00 to $128.00, with an average target price of $123.06.
• In its latest earnings report, Illumina surpassed EPS estimates by $0.17 but experienced a 4.8% decline in revenue year-over-year.

PGGM Investments lifted its position in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 115.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,149,408 shares of the life sciences company's stock after buying an additional 614,973 shares during the period. Illumina accounts for approximately 1.9% of PGGM Investments' portfolio, making the stock its 18th largest holding. PGGM Investments owned approximately 0.73% of Illumina worth $109,665,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Rise Advisors LLC lifted its stake in shares of Illumina by 173.6% during the first quarter. Rise Advisors LLC now owns 353 shares of the life sciences company's stock valued at $28,000 after buying an additional 224 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Illumina by 290.3% during the first quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock valued at $29,000 after buying an additional 270 shares during the period. Center for Financial Planning Inc. purchased a new position in shares of Illumina during the first quarter valued at approximately $33,000. PFS Partners LLC lifted its stake in shares of Illumina by 400.0% during the first quarter. PFS Partners LLC now owns 500 shares of the life sciences company's stock valued at $40,000 after buying an additional 400 shares during the period. Finally, Golden State Wealth Management LLC lifted its stake 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 valued at $42,000 after buying an additional 292 shares during the period. Hedge funds and other institutional investors own 89.42% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ILMN. Stephens set a $110.00 price objective on shares of Illumina and gave the company an "overweight" rating in a research note on Monday, August 4th. Daiwa America downgraded shares of Illumina from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 12th. Robert W. Baird increased their price target on shares of Illumina from $84.00 to $105.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Daiwa Capital Markets downgraded shares of Illumina from an "outperform" rating to a "neutral" rating and set a $94.00 price target on the stock. in a research note on Tuesday, August 12th. Finally, Evercore ISI increased their price target on shares of Illumina from $116.00 to $128.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Illumina currently has an average rating of "Hold" and an average target price of $123.06.

Illumina Price Performance

Illumina stock opened at $94.97 on Wednesday. Illumina, Inc. has a 52-week low of $68.70 and a 52-week high of $156.66. The firm has a fifty day moving average of $99.42 and a 200-day moving average of $89.55. The firm has a market capitalization of $14.60 billion, a P/E ratio of 12.02, a PEG ratio of 2.22 and a beta of 1.43. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.66.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The life sciences company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.17. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The business's quarterly revenue was down 4.8% compared to the same quarter last year. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. As a group, analysts predict that Illumina, Inc. will post 4.51 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.