Swedbank AB Sells 310,920 Shares of Illumina, Inc. $ILMN

Key Points

• Swedbank AB reduced its stake in Illumina, Inc. by 92.9%, holding only 23,597 shares after selling 310,920 shares in the first quarter, valuing its holdings at $1.87 million.
• Several other investors significantly increased their holdings in Illumina during the same quarter, with PFS Partners LLC boosting its stake by 400%.
• Illumina reported a quarterly earnings per share (EPS) of $1.19, exceeding expectations, but noted a revenue decline of 4.8% compared to the previous year.

Swedbank AB lowered its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 92.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,597 shares of the life sciences company's stock after selling 310,920 shares during the quarter. Swedbank AB's holdings in Illumina were worth $1,872,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Rise Advisors LLC grew its holdings in Illumina by 173.6% during the first quarter. Rise Advisors LLC now owns 353 shares of the life sciences company's stock worth $28,000 after buying an additional 224 shares in the last quarter. Rakuten Securities Inc. grew 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 in the last quarter. Center for Financial Planning Inc. bought a new stake in Illumina during the first quarter worth $33,000. Fourth Dimension Wealth LLC bought a new stake in Illumina during the fourth quarter worth $40,000. Finally, PFS Partners LLC boosted its position in Illumina by 400.0% in the first quarter. PFS Partners LLC now owns 500 shares of the life sciences company's stock worth $40,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 89.42% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ILMN. Evercore ISI upped their price objective on Illumina from $116.00 to $128.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Stephens set a $110.00 price objective on Illumina and gave the company an "overweight" rating in a research note on Monday, August 4th. Daiwa America downgraded Illumina from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 12th. Robert W. Baird upped their price objective on Illumina from $84.00 to $105.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, Daiwa Capital Markets cut Illumina from an "outperform" rating to a "neutral" rating and set a $94.00 price target on the stock. in a research report on Tuesday, August 12th. Six investment 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 MarketBeat.com, Illumina has an average rating of "Hold" and a consensus price target of $123.06.

Illumina Price Performance

ILMN traded down $0.35 during trading on Friday, reaching $102.68. 899,589 shares of the company were exchanged, compared to its average volume of 2,229,194. The company's 50-day moving average is $99.71 and its two-hundred day moving average is $88.91. The company has a market cap of $15.78 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 2.27 and a beta of 1.43. 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, Inc. has a 12-month low of $68.70 and a 12-month high of $156.66.

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. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.12 billion. Illumina had a return on equity of 28.93% and a net margin of 29.36%.The firm's quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 EPS. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Research analysts forecast 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.