Southpoint Capital Advisors LP Acquires 349,536 Shares of Illumina, Inc. $ILMN

Key Points

• Southpoint Capital Advisors increased its Illumina stake by 20% in the first quarter, acquiring 349,536 shares for a total of 2.1 million shares valued at approximately $258.8 million. Institutional investors collectively own 89.42% of the company.
• Analyst sentiment remains mixed: Illumina has a consensus “Hold” rating and an average price target of $156.88, despite JPMorgan and Leerink Partners raising their targets to $185 and $210, respectively.
• Illumina reported quarterly adjusted earnings of $1.15 per share and revenue of $1.09 billion, beating estimates, while insiders sold approximately $155.7 million of stock over the past 90 days.

Southpoint Capital Advisors LP raised its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 20.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,100,000 shares of the life sciences company's stock after acquiring an additional 349,536 shares during the quarter. Illumina comprises 5.3% of Southpoint Capital Advisors LP's portfolio, making the stock its 3rd largest position. Southpoint Capital Advisors LP owned approximately 1.39% of Illumina worth $258,846,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ILMN. Impact Partnership Wealth LLC grew its position in shares of Illumina by 235.8% during the 1st quarter. Impact Partnership Wealth LLC now owns 11,080 shares of the life sciences company's stock worth $1,366,000 after buying an additional 7,780 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Illumina in the 1st quarter valued at approximately $5,460,000. SG Americas Securities LLC boosted its stake in Illumina by 8.0% during the 1st quarter. SG Americas Securities LLC now owns 86,318 shares of the life sciences company's stock worth $10,640,000 after acquiring an additional 6,425 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in Illumina by 27.4% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 348,011 shares of the life sciences company's stock worth $45,645,000 after acquiring an additional 74,900 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in Illumina by 2.7% during the fourth quarter. New York State Teachers Retirement System now owns 149,638 shares of the life sciences company's stock valued at $19,627,000 after purchasing an additional 4,002 shares during the period. Institutional investors and hedge funds own 89.42% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on ILMN. Weiss Ratings raised shares of Illumina from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, June 3rd. Wall Street Zen lowered shares of Illumina from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. JPMorgan Chase & Co. raised shares of Illumina from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $125.00 to $185.00 in a report on Wednesday, June 10th. Leerink Partners raised their price objective on Illumina from $175.00 to $210.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Finally, TD Cowen reiterated a "hold" rating on shares of Illumina in a report on Wednesday, July 15th. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Illumina currently has a consensus rating of "Hold" and an average target price of $156.88.

Illumina Stock Performance

Shares of ILMN opened at $189.47 on Tuesday. The firm has a market cap of $28.67 billion, a P/E ratio of 34.45, a PEG ratio of 2.87 and a beta of 1.47. Illumina, Inc. has a twelve month low of $88.00 and a twelve month high of $199.14. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.36 and a current ratio of 1.75. The firm's 50 day moving average price is $172.20 and its two-hundred day moving average price is $145.73.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The life sciences company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.10. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. Illumina had a net margin of 19.42% and a return on equity of 31.01%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.97 earnings per share. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, analysts forecast that Illumina, Inc. will post 5.22 EPS for the current fiscal year.

Insider Activity

In other Illumina news, SVP Patricia Leckman sold 783 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $162.59, for a total transaction of $127,307.97. Following the completion of the transaction, the senior vice president owned 21,259 shares in the company, valued at approximately $3,456,500.81. This represents a 3.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Scott D. Ericksen sold 1,500 shares of the business's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $150.10, for a total value of $225,150.00. Following the completion of the sale, the chief accounting officer owned 14,946 shares in the company, valued at approximately $2,243,394.60. This trade represents a 9.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,003,769 shares of company stock worth $155,710,908. 2.90% of the stock is currently owned by insiders.

About Illumina

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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