PNC Financial Services Group Inc. Acquires 3,990 Shares of Illumina, Inc. $ILMN

PNC Financial Services Group Inc. grew its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 23.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,986 shares of the life sciences company’s stock after buying an additional 3,990 shares during the period. PNC Financial Services Group Inc.’s holdings in Illumina were worth $2,587,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ILMN. WCM Investment Management LLC increased its stake in shares of Illumina by 45.5% in the 1st quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company’s stock valued at $715,579,000 after acquiring an additional 1,851,848 shares in the last quarter. Invesco Ltd. boosted its stake in Illumina by 97.0% during the fourth quarter. Invesco Ltd. now owns 2,747,986 shares of the life sciences company’s stock worth $360,426,000 after acquiring an additional 1,352,731 shares in the last quarter. AQR Capital Management LLC boosted its stake in Illumina by 30.3% during the fourth quarter. AQR Capital Management LLC now owns 4,426,126 shares of the life sciences company’s stock worth $580,531,000 after acquiring an additional 1,028,099 shares in the last quarter. Morgan Stanley grew its holdings in Illumina by 66.0% in the fourth quarter. Morgan Stanley now owns 2,529,045 shares of the life sciences company’s stock worth $331,710,000 after purchasing an additional 1,005,474 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in Illumina in the first quarter valued at $106,462,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ILMN shares. Canaccord Genuity Group upped their price objective on shares of Illumina from $140.00 to $190.00 and gave the company a “hold” rating in a report on Tuesday, July 14th. Guggenheim raised their target price on Illumina from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Evercore reaffirmed an “outperform” rating on shares of Illumina in a research note on Monday, July 6th. Sanford C. Bernstein assumed coverage on Illumina in a research note on Friday, June 26th. They set a “market perform” rating and a $185.00 price target on the stock. Finally, Leerink Partners increased their price target on Illumina from $175.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $156.88.

Insider Buying and Selling at Illumina

In other news, CAO Scott D. Ericksen sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $150.10, for a total value of $225,150.00. Following the completion of the sale, the chief accounting officer directly owned 14,946 shares of the company’s stock, valued at $2,243,394.60. This represents a 9.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christensen Jakob Wedel sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $139.04, for a total value of $97,328.00. Following the completion of the transaction, the senior vice president owned 15,056 shares in the company, valued at $2,093,386.24. This represents a 4.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,003,769 shares of company stock worth $155,710,908. 2.90% of the stock is currently owned by corporate insiders.

Illumina Stock Performance

ILMN opened at $192.98 on Wednesday. Illumina, Inc. has a 1-year low of $88.00 and a 1-year high of $199.14. The company has a market cap of $29.20 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 2.80 and a beta of 1.47. The company’s fifty day moving average price is $173.22 and its two-hundred day moving average price is $146.03. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.56.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Thursday, April 30th. The life sciences company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.10. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Illumina had a net margin of 19.42% and a return on equity of 31.01%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the company earned $0.97 earnings per share. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, analysts expect that Illumina, Inc. will post 5.22 EPS for the current fiscal year.

About Illumina

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.