Slow Capital Inc. Sells 23,118 Shares of Illumina, Inc. $ILMN

Key Points

• Slow Capital Inc. decreased its stake in Illumina, Inc. by 29.5%, selling 23,118 shares during the second quarter, and currently holds 55,198 shares valued at approximately $5.26 million.
• Institutional investors collectively own 89.42% of Illumina's stock, with several firms significantly increasing their positions in the first quarter.
• Research firms have varied opinions on Illumina; with target prices set between $80.00 and $128.00, the average rating is "Hold" and the consensus price target is $123.33.

Slow Capital Inc. reduced its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 29.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 55,198 shares of the life sciences company's stock after selling 23,118 shares during the quarter. Slow Capital Inc.'s holdings in Illumina were worth $5,266,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ILMN. Corvex Management LP raised its holdings in Illumina by 125.2% in the 1st quarter. Corvex Management LP now owns 3,829,608 shares of the life sciences company's stock worth $303,841,000 after acquiring an additional 2,129,449 shares during the period. AQR Capital Management LLC grew its position in shares of Illumina by 361.7% in the first quarter. AQR Capital Management LLC now owns 2,121,585 shares of the life sciences company's stock valued at $165,484,000 after purchasing an additional 1,662,093 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Illumina by 11,714.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,161,882 shares of the life sciences company's stock worth $92,184,000 after purchasing an additional 1,152,048 shares during the period. Brown Advisory Inc. increased its stake in shares of Illumina by 52.1% in the first quarter. Brown Advisory Inc. now owns 2,909,228 shares of the life sciences company's stock worth $230,818,000 after purchasing an additional 996,589 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Illumina by 2,057.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 922,281 shares of the life sciences company's stock worth $73,174,000 after purchasing an additional 879,533 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ILMN. Stephens set a $110.00 target price on Illumina and gave the company an "overweight" rating in a report on Monday, August 4th. Morgan Stanley boosted their target price on shares of Illumina from $100.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Citigroup cut shares of Illumina from a "hold" rating to a "strong sell" rating and cut their target price for the company from $85.00 to $80.00 in a research note on Wednesday, July 9th. Evercore ISI raised their price target on shares of Illumina from $116.00 to $128.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Illumina in a research report on Saturday, September 27th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $123.33.

Illumina Price Performance

NASDAQ:ILMN opened at $101.02 on Tuesday. 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 company has a 50-day moving average of $98.89 and a 200-day moving average of $90.01. Illumina, Inc. has a 52 week low of $68.70 and a 52 week high of $156.66. The company has a market capitalization of $15.53 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 2.46 and a beta of 1.40.

Illumina (NASDAQ:ILMN - Get Free Report) last posted 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. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.12 billion. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The firm's revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. As a group, equities research analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Illumina Company 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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