Illumina (NASDAQ:ILMN) Reaches New 52-Week High – Here’s Why

Illumina, Inc. (NASDAQ:ILMN) shares hit a new 52-week high on Wednesday . The company traded as high as $151.76 and last traded at $150.0650, with a volume of 818562 shares changing hands. The stock had previously closed at $147.17.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ILMN shares. Canaccord Genuity Group raised their target price on shares of Illumina from $112.00 to $130.00 and gave the stock a “hold” rating in a research report on Monday, December 22nd. UBS Group raised their price objective on Illumina from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Wall Street Zen raised Illumina from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Evercore ISI reissued an “outperform” rating and set a $155.00 price target on shares of Illumina in a research report on Monday, January 5th. Finally, Robert W. Baird set a $109.00 price objective on shares of Illumina in a research note on Friday, October 31st. Six equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $124.47.

Illumina Price Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.12 and a current ratio of 1.43. The firm has a market cap of $22.96 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.56 and a beta of 1.41. The stock has a 50 day simple moving average of $134.61 and a two-hundred day simple moving average of $112.77.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Thursday, October 30th. The life sciences company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.16 by $0.18. Illumina had a return on equity of 29.21% and a net margin of 16.40%.The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. The business’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. Sell-side analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Scott M. Davies sold 323 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $136.09, for a total transaction of $43,957.07. Following the transaction, the insider owned 17,887 shares in the company, valued at $2,434,241.83. This trade represents a 1.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Scott Gottlieb acquired 500 shares of the business’s stock in a transaction 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 purchase, the director owned 12,523 shares in the company, valued at $1,529,433.99. This represents a 4.16% increase in their position. The SEC filing for this purchase provides additional information. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Illumina

A number of hedge funds have recently modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of Illumina by 113.7% during the 1st quarter. Empowered Funds LLC now owns 9,284 shares of the life sciences company’s stock worth $737,000 after purchasing an additional 4,940 shares during the period. Sivia Capital Partners LLC acquired a new position in Illumina in the second quarter valued at about $621,000. Farther Finance Advisors LLC lifted its position in Illumina by 9.8% in the second quarter. Farther Finance Advisors LLC now owns 2,521 shares of the life sciences company’s stock valued at $241,000 after buying an additional 225 shares during the last quarter. Park Avenue Securities LLC boosted its stake in Illumina by 9.5% during the second quarter. Park Avenue Securities LLC now owns 6,609 shares of the life sciences company’s stock worth $631,000 after buying an additional 571 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Illumina by 199.5% during the second quarter. GAMMA Investing LLC now owns 2,465 shares of the life sciences company’s stock valued at $235,000 after acquiring an additional 1,642 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Company Profile

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.