Truist Financial Corp Purchases 1,850 Shares of Illumina, Inc. $ILMN

Truist Financial Corp lifted its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 3.8% in the second quarter, HoldingsChannel reports. The fund owned 50,004 shares of the life sciences company’s stock after buying an additional 1,850 shares during the period. Truist Financial Corp’s holdings in Illumina were worth $4,771,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. UMB Bank n.a. increased its position in Illumina by 57.2% in the first quarter. UMB Bank n.a. now owns 1,110 shares of the life sciences company’s stock worth $88,000 after purchasing an additional 404 shares during the period. Wedmont Private Capital bought a new position in shares of Illumina in the 1st quarter valued at about $207,000. Portside Wealth Group LLC grew its position in shares of Illumina by 15.3% during the 1st quarter. Portside Wealth Group LLC now owns 3,002 shares of the life sciences company’s stock worth $238,000 after buying an additional 398 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Illumina by 95.7% during the first quarter. Farther Finance Advisors LLC now owns 2,296 shares of the life sciences company’s stock worth $180,000 after buying an additional 1,123 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its holdings in Illumina by 73.1% in the first quarter. Pallas Capital Advisors LLC now owns 10,434 shares of the life sciences company’s stock valued at $828,000 after buying an additional 4,405 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Stock Down 4.3%

ILMN stock opened at $96.68 on Wednesday. The stock has a market capitalization of $14.86 billion, a P/E ratio of 12.24, a P/E/G ratio of 2.44 and a beta of 1.40. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The business has a 50-day moving average of $98.65 and a 200-day moving average of $90.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.81 and a quick ratio of 1.41.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, July 31st. The life sciences company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.17. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. On average, sell-side analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ILMN has been the subject of a number of analyst reports. Daiwa Capital Markets lowered shares of Illumina from an “outperform” rating to a “neutral” rating and set a $94.00 target price for the company. in a report on Tuesday, August 12th. Scotiabank cut Illumina from a “sector outperform” rating to a “sector perform” rating and set a $125.00 price objective for the company. in a research note on Friday, July 11th. Stephens set a $110.00 target price on Illumina and gave the company an “overweight” rating in a research note on Monday, August 4th. Canaccord Genuity Group boosted their target price on Illumina from $99.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, August 1st. Finally, Barclays increased their price target on shares of Illumina from $90.00 to $95.00 and gave the company an “underweight” rating in a research report on Thursday, October 2nd. Six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Illumina currently has a consensus rating of “Hold” and an average target price of $123.56.

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.