Plato Investment Management Ltd Sells 2,855 Shares of Illumina, Inc. $ILMN

Key Points

• Plato Investment Management Ltd reduced its stake in Illumina, Inc. by 21%, selling 2,855 shares to hold a total of 10,723 shares valued at $860,000.
• Several hedge funds have increased their positions or acquired stakes in Illumina, with institutional investors collectively owning 89.42% of the company's stock.
• Illumina's most recent earnings report showed a profit of $1.19 EPS, exceeding analysts' expectations, despite a 4.8% year-over-year revenue decline.

Plato Investment Management Ltd lessened its position in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 21.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,723 shares of the life sciences company's stock after selling 2,855 shares during the period. Plato Investment Management Ltd's holdings in Illumina were worth $860,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Illumina during the 4th quarter worth about $40,000. Rise Advisors LLC raised its position in shares of Illumina by 173.6% in the 1st 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 in the last quarter. Rakuten Securities Inc. raised its position in shares of Illumina by 290.3% in the 1st 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 in the last quarter. Center for Financial Planning Inc. acquired a new position in Illumina during the 1st quarter worth approximately $33,000. Finally, PFS Partners LLC increased its position in Illumina by 400.0% during the 1st quarter. PFS Partners LLC now owns 500 shares of the life sciences company's stock worth $40,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Robert W. Baird upped their price objective on shares of Illumina from $84.00 to $105.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Morgan Stanley upped their price target on shares of Illumina from $100.00 to $105.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Scotiabank cut shares of Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 price target for the company. in a research report on Friday, July 11th. Wall Street Zen cut shares of Illumina from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Barclays upped their price target on shares of Illumina from $85.00 to $90.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Illumina has a consensus rating of "Hold" and an average price target of $123.06.

Illumina Trading Up 4.0%

NASDAQ:ILMN opened at $99.31 on Friday. The firm's fifty day moving average is $99.56 and its 200-day moving average is $88.57. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 1.81. Illumina, Inc. has a 52 week low of $68.70 and a 52 week high of $156.66. The firm has a market cap of $15.26 billion, a P/E ratio of 12.57, a P/E/G ratio of 2.15 and a beta of 1.43.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The life sciences company reported $1.19 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm posted $0.36 EPS. The company's quarterly revenue was down 4.8% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Equities analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current year.

Illumina 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.

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