Forsta AP Fonden Decreases Stake in Illumina, Inc. $ILMN

Forsta AP Fonden cut its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 4.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,500 shares of the life sciences company’s stock after selling 1,500 shares during the quarter. Forsta AP Fonden’s holdings in Illumina were worth $3,005,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Corvex Management LP lifted its stake in Illumina by 125.2% in the first 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 last quarter. AQR Capital Management LLC raised its holdings in shares of Illumina by 361.7% in the 1st 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 in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Illumina by 11,714.9% during the 1st 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Illumina by 51.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,960,385 shares of the life sciences company’s stock worth $155,537,000 after purchasing an additional 667,978 shares in the last quarter. Finally, PGGM Investments grew its stake in shares of Illumina by 115.1% during the second quarter. PGGM Investments now owns 1,149,408 shares of the life sciences company’s stock worth $109,665,000 after purchasing an additional 614,973 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Stock Performance

Shares of ILMN opened at $120.67 on Friday. The company’s 50 day simple moving average is $102.84 and its 200-day simple moving average is $95.99. The firm has a market cap of $18.44 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.34 and a beta of 1.42. Illumina, Inc. has a 12-month low of $68.70 and a 12-month high of $153.06. 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) last issued its quarterly earnings results on Thursday, October 30th. The life sciences company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.18. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business earned $1.14 EPS. Illumina’s quarterly revenue was up .4% compared to the same quarter last year. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. As a group, equities analysts predict that Illumina, Inc. will post 4.51 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on Illumina from $100.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Barclays raised their target price on Illumina from $95.00 to $100.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. Royal Bank Of Canada set a $124.00 price target on Illumina in a report on Tuesday, September 2nd. Robert W. Baird set a $109.00 price target on shares of Illumina in a research note on Friday, October 31st. Finally, TD Cowen boosted their price objective on shares of Illumina from $110.00 to $115.00 and gave the stock a “hold” rating in a research report on Friday, October 31st. Five analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Illumina presently has an average rating of “Hold” and an average price target of $115.00.

Insider Buying and Selling at Illumina

In related news, Director Scott Gottlieb purchased 500 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were purchased at an average price of $122.13 per share, with a total value of $61,065.00. Following the completion of the acquisition, the director directly owned 12,523 shares in the company, valued at $1,529,433.99. This represents a 4.16% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.60% of the company’s stock.

About Illumina

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.