Principal Financial Group Inc. Has $42.06 Million Stock Holdings in Illumina, Inc. $ILMN

Key Points

• Principal Financial Group increased its Illumina stake by 3.8% in the first quarter, holding 341,244 shares valued at about $42.1 million.
• Several other institutional investors also raised their positions, and institutions and hedge funds now own 89.42% of Illumina’s stock.
• Illumina beat quarterly earnings and revenue estimates, and analysts have recently turned more positive, with multiple firms raising price targets even though the overall consensus remains Hold.

Principal Financial Group Inc. grew its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 341,244 shares of the life sciences company's stock after purchasing an additional 12,624 shares during the period. Principal Financial Group Inc. owned approximately 0.22% of Illumina worth $42,062,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Capital World Investors boosted its stake in Illumina by 0.6% in the fourth quarter. Capital World Investors now owns 20,101,173 shares of the life sciences company's stock valued at $2,636,483,000 after buying an additional 124,323 shares in the last quarter. State Street Corp raised its stake in Illumina by 3.2% during the fourth quarter. State Street Corp now owns 6,190,114 shares of the life sciences company's stock worth $811,895,000 after acquiring an additional 190,324 shares in the last quarter. AQR Capital Management LLC raised its stake in Illumina by 30.3% during the fourth quarter. AQR Capital Management LLC now owns 4,426,126 shares of the life sciences company's stock worth $580,531,000 after acquiring an additional 1,028,099 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Illumina by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 2,869,047 shares of the life sciences company's stock worth $375,260,000 after acquiring an additional 130,139 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Illumina by 97.0% in the fourth quarter. Invesco Ltd. now owns 2,747,986 shares of the life sciences company's stock worth $360,426,000 after acquiring an additional 1,352,731 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

Insider Activity at Illumina

In related news, SVP Patricia Leckman sold 783 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $162.59, for a total value of $127,307.97. Following the completion of the sale, the senior vice president directly owned 21,259 shares in the company, valued at $3,456,500.81. This represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Scott M. Davies sold 615 shares of the firm's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $180.00, for a total value of $110,700.00. Following the transaction, the insider directly owned 20,953 shares of the company's stock, valued at approximately $3,771,540. This represents a 2.85% 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. Insiders have sold 1,003,769 shares of company stock valued at $155,710,908 in the last quarter. Insiders own 2.90% of the company's stock.

Illumina Stock Performance

Illumina stock opened at $186.65 on Friday. The business has a 50 day moving average of $166.44 and a 200-day moving average of $143.34. The company has a market capitalization of $28.24 billion, a P/E ratio of 33.94, a P/E/G ratio of 3.49 and a beta of 1.47. Illumina, Inc. has a 1 year low of $88.00 and a 1 year high of $196.66. 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 (NASDAQ:ILMN - Get Free Report) last posted its earnings results on Thursday, April 30th. The life sciences company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.05 by $0.10. Illumina had a net margin of 19.42% and a return on equity of 31.01%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $0.97 EPS. The firm's revenue was up 4.8% compared to the same quarter last year. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, equities research analysts predict that Illumina, Inc. will post 5.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada started coverage on shares of Illumina in a report on Thursday, May 14th. They set an "outperform" rating and a $170.00 price target on the stock. JPMorgan Chase & Co. raised shares of Illumina from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $125.00 to $185.00 in a research note on Wednesday, June 10th. Guggenheim raised their target price on shares of Illumina from $180.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Piper Sandler boosted their target price on shares of Illumina from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 1st. Finally, Sanford C. Bernstein started coverage on shares of Illumina in a report on Friday, June 26th. They set a "market perform" rating and a $185.00 price target for the company. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $156.88.

Illumina Company Profile

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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