Russell Investments Group Ltd. Increases Stock Position in Illumina, Inc. $ILMN

Key Points

• Russell Investments Group Ltd. significantly increased its holdings in Illumina, acquiring 159,029 shares and raising its stake by 403% in the first quarter.
• Illumina reported a quarterly earnings per share of $1.19, exceeding estimates, but saw a 4.8% drop in revenue compared to the previous year.
• Analysts have mixed ratings on Illumina, with a consensus rating of "Hold" and a target price of $124.58.

Russell Investments Group Ltd. raised its holdings in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 403.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 198,492 shares of the life sciences company's stock after purchasing an additional 159,029 shares during the period. Russell Investments Group Ltd. owned 0.13% of Illumina worth $15,753,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ILMN. Rakuten Securities Inc. increased its position in Illumina by 290.3% during the 1st quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock valued at $29,000 after purchasing an additional 270 shares during the period. Center for Financial Planning Inc. bought a new stake in shares of Illumina in the 1st quarter valued at about $33,000. Fourth Dimension Wealth LLC bought a new stake in shares of Illumina in the 4th quarter valued at about $40,000. PFS Partners LLC boosted its holdings in shares of 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 buying an additional 400 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of 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 buying an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.

Illumina Price Performance

Shares of Illumina stock traded down $0.3990 during trading hours on Thursday, reaching $100.4010. 498,247 shares of the company's stock were exchanged, compared to its average volume of 2,334,934. Illumina, Inc. has a 1 year low of $68.70 and a 1 year high of $156.66. The company has a market capitalization of $15.43 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 2.28 and a beta of 1.37. The business has a fifty day moving average of $97.66 and a two-hundred day moving average of $89.50. 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 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 net margin of 29.36% and a return on equity of 28.93%. The business 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 firm 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, research analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

ILMN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Illumina from $120.00 to $85.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Canaccord Genuity Group lifted their price objective on shares of Illumina from $99.00 to $105.00 and gave the company a "hold" rating in a research note on Friday, August 1st. Daiwa Capital Markets cut shares of Illumina from an "outperform" rating to a "neutral" rating and set a $94.00 price objective for the company. in a research note on Tuesday, August 12th. Evercore ISI raised their price target on shares of Illumina from $116.00 to $128.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Citigroup lowered shares of Illumina from a "hold" rating to a "strong sell" rating and cut their price target for the stock from $85.00 to $80.00 in a report on Wednesday, July 9th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $124.58.

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.