State of New Jersey Common Pension Fund D Sells 4,596 Shares of Illumina, Inc. $ILMN

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Illumina, Inc. by 7.8%, selling 4,596 shares to end up with a total of 54,706 shares, which were valued at $4.34 million.
• Several hedge funds have recently adjusted their positions in Illumina, with notable increases including Rakuten Securities Inc. boosting its stake by 290.3% in the first quarter.
• Illumina's stock received a mix of ratings from analysts, with a consensus target price of $124.58 and seven analysts rating it as a Buy, while eleven rated it as Hold.

State of New Jersey Common Pension Fund D lowered its stake in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 7.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,706 shares of the life sciences company's stock after selling 4,596 shares during the period. State of New Jersey Common Pension Fund D's holdings in Illumina were worth $4,340,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ILMN. Rakuten Securities Inc. boosted its stake in Illumina by 290.3% in the first quarter. Rakuten Securities Inc. now owns 363 shares of the life sciences company's stock valued at $29,000 after buying an additional 270 shares in the last quarter. Center for Financial Planning Inc. acquired a new stake in Illumina in the first quarter valued at about $33,000. Fourth Dimension Wealth LLC acquired a new stake in Illumina in the fourth quarter valued at about $40,000. PFS Partners LLC boosted its stake in Illumina by 400.0% in the first 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 stake in Illumina by 123.2% in the first 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. Institutional investors own 89.42% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Scotiabank lowered Illumina from a "sector outperform" rating to a "sector perform" rating and set a $125.00 price objective on the stock. in a research note on Friday, July 11th. Daiwa America lowered Illumina from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 12th. Guggenheim cut their price target on Illumina from $122.00 to $114.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Barclays lifted their price target on Illumina from $85.00 to $90.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. Finally, Robert W. Baird lifted their price target on Illumina from $84.00 to $105.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $124.58.

Illumina Stock Performance

Shares of ILMN stock opened at $101.60 on Wednesday. The business's 50-day moving average price is $97.39 and its 200-day moving average price is $89.42. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66. The firm has a market capitalization of $15.62 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 2.26 and a beta of 1.37. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data 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 return on equity of 28.93% and a net margin of 29.36%.The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the company earned $0.36 earnings per share. The firm's revenue was down 4.8% compared to the same quarter last year. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Equities research analysts forecast that Illumina, Inc. will post 4.51 EPS for the current 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.

Want to see what other hedge funds are holding ILMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illumina, Inc. (NASDAQ:ILMN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.