Wellington Management Group LLP Increases Stock Position in Illumina, Inc. $ILMN

Key Points

• Wellington Management Group LLP increased its holdings in Illumina, Inc. by 47.1% in the first quarter, now owning 37,213 shares valued at approximately $2.95 million.
• Illumina reported quarterly earnings of $1.19 per share, exceeding expectations, although its revenue of $1.06 billion was below the forecast of $1.12 billion.
• Institutional investors and hedge funds together own 89.42% of Illumina's stock, indicating strong institutional interest in the company.

Wellington Management Group LLP raised its stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) by 47.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,213 shares of the life sciences company's stock after buying an additional 11,915 shares during the quarter. Wellington Management Group LLP's holdings in Illumina were worth $2,952,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ILMN. Integrated Wealth Concepts LLC lifted its holdings in shares of Illumina by 10.1% in the fourth quarter. Integrated Wealth Concepts LLC now owns 3,291 shares of the life sciences company's stock valued at $440,000 after purchasing an additional 301 shares in the last quarter. Northern Trust Corp increased its position in Illumina by 26.9% during the fourth quarter. Northern Trust Corp now owns 1,652,935 shares of the life sciences company's stock worth $220,882,000 after buying an additional 349,878 shares during the last quarter. Lido Advisors LLC increased its holdings in shares of Illumina by 18.1% during the 4th quarter. Lido Advisors LLC now owns 3,392 shares of the life sciences company's stock worth $453,000 after acquiring an additional 521 shares during the last quarter. Keel Point LLC bought a new position in Illumina in the 4th quarter valued at about $204,000. Finally, Arohi Asset Management PTE Ltd. boosted its position in shares of Illumina by 91.9% in the fourth quarter. Arohi Asset Management PTE Ltd. now owns 121,270 shares of the life sciences company's stock valued at $16,205,000 after acquiring an additional 58,070 shares during the period. 89.42% of the stock is owned by institutional investors.

Illumina Price Performance

Shares of Illumina stock traded down $1.06 on Thursday, hitting $95.02. 178,656 shares of the company traded hands, compared to its average volume of 2,281,726. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. The firm's 50-day simple moving average is $99.47 and its 200 day simple moving average is $88.58. Illumina, Inc. has a 12-month low of $68.70 and a 12-month high of $156.66. The company has a market cap of $14.60 billion, a P/E ratio of 12.04, a P/E/G ratio of 2.25 and a beta of 1.43.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.17. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter last year, the business earned $0.36 earnings per share. The business's revenue was down 4.8% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on ILMN. Canaccord Genuity Group increased their price target on shares of Illumina from $99.00 to $105.00 and gave the stock a "hold" rating in a research report on Friday, August 1st. Wall Street Zen downgraded Illumina from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays upped their price target on shares of Illumina from $85.00 to $90.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Robert W. Baird lifted their price objective on shares of Illumina from $84.00 to $105.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, Stephens set a $110.00 price target on Illumina and gave the stock an "overweight" rating in a report on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $123.06.

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.