Illumina, Inc. $ILMN Shares Bought by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its stake in Illumina, Inc. by 34.9%, holding a total of 464,933 shares valued at $36.89 million as of the latest SEC disclosure.
• Illumina reported quarterly earnings of $1.19 EPS, exceeding analyst expectations, but its revenue decreased by 4.8% year-over-year to $1.06 billion.
• Research ratings for Illumina show a mix of optimism and caution, with six analysts rating it as a Buy, while others maintain a Hold or have downgraded their recommendations.

Royal Bank of Canada increased its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 34.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 464,933 shares of the life sciences company's stock after buying an additional 120,390 shares during the period. Royal Bank of Canada owned about 0.29% of Illumina worth $36,888,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. lifted its holdings in Illumina by 290.3% during the first quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock worth $29,000 after buying an additional 270 shares during the period. Center for Financial Planning Inc. acquired a new stake in shares of Illumina during the 1st quarter valued at about $33,000. Fourth Dimension Wealth LLC purchased a new position in shares of Illumina during the 4th quarter valued at approximately $40,000. PFS Partners LLC grew its stake in Illumina by 400.0% in the 1st quarter. PFS Partners LLC now owns 500 shares of the life sciences company's stock valued at $40,000 after acquiring an additional 400 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in Illumina by 123.2% in the 1st quarter. Golden State Wealth Management LLC now owns 529 shares of the life sciences company's stock valued at $42,000 after acquiring an additional 292 shares during the period. Hedge funds and other institutional investors own 89.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ILMN shares. Royal Bank Of Canada set a $124.00 price target on Illumina in a research report on Tuesday, September 2nd. Stephens set a $110.00 price objective on Illumina and gave the stock an "overweight" rating in a research report on Monday, August 4th. Piper Sandler dropped their target price on Illumina from $190.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Barclays increased their target price on Illumina from $85.00 to $90.00 and gave the company an "underweight" rating in a report on Friday, August 1st. Finally, Wall Street Zen lowered Illumina from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $123.06.

Illumina Price Performance

Shares of Illumina stock traded up $3.51 during trading on Thursday, hitting $99.00. 524,347 shares of the company were exchanged, compared to its average volume of 2,250,519. The firm has a 50 day moving average price of $99.59 and a 200 day moving average price of $88.53. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $15.22 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 2.21 and a beta of 1.43. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share for the quarter, beating 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 firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter last year, the firm earned $0.36 earnings per share. The firm'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. On average, equities analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current fiscal 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.