Poinciana Advisors Group LLC Takes Position in Illumina, Inc. $ILMN

Key Points

• Poinciana Advisors Group LLC acquired 3,378 shares of Illumina, Inc. valued at approximately $322,000 during the second quarter, as disclosed to the SEC.
• Illumina's recent earnings report showed an EPS of $1.19, which surpassed analysts' expectations but revenue decreased 4.8% year-over-year.
• Analyst ratings for Illumina are mixed, with six analysts rating it as a Buy and an average price target of $123.06.

Poinciana Advisors Group LLC acquired a new stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,378 shares of the life sciences company's stock, valued at approximately $322,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Diversified Trust Co purchased a new position in shares of Illumina in the 1st quarter worth $355,000. State of Alaska Department of Revenue raised its position in shares of Illumina by 2.5% in the 1st quarter. State of Alaska Department of Revenue now owns 18,527 shares of the life sciences company's stock worth $1,469,000 after buying an additional 445 shares during the period. GC Wealth Management RIA LLC purchased a new position in shares of Illumina in the 2nd quarter worth $2,289,000. Acadian Asset Management LLC raised its stake in shares of Illumina by 171.2% in the 1st quarter. Acadian Asset Management LLC now owns 32,921 shares of the life sciences company's stock valued at $2,608,000 after acquiring an additional 20,784 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Illumina by 4.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 199,176 shares of the life sciences company's stock valued at $15,803,000 after acquiring an additional 9,252 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ILMN shares. Evercore ISI raised their price objective on Illumina from $116.00 to $128.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Citigroup lowered Illumina from a "hold" rating to a "strong sell" rating and cut their price objective for the company from $85.00 to $80.00 in a research report on Wednesday, July 9th. Stephens set a $110.00 price objective on Illumina and gave the company an "overweight" rating in a research report on Monday, August 4th. Scotiabank lowered Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 price objective on the stock. in a research report on Friday, July 11th. Finally, Daiwa Capital Markets lowered Illumina from an "outperform" rating to a "neutral" rating and set a $94.00 price objective on the stock. in a research report on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $123.06.

Illumina Stock Up 0.2%

Shares of NASDAQ ILMN opened at $91.87 on Tuesday. Illumina, Inc. has a 1 year low of $68.70 and a 1 year high of $156.66. The firm has a market cap of $14.12 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 2.21 and a beta of 1.43. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 1.81. The stock's 50-day simple moving average is $99.57 and its 200-day simple moving average is $89.51.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.17. Illumina had a return on equity of 28.93% and a net margin of 29.36%.The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the company earned $0.36 earnings per share. The company's revenue for the quarter 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, equities analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

About Illumina

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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