Financial advisory firm 180 Wealth Advisors LLC has increased its holdings in the life sciences company Illumina, Inc. (NASDAQ:ILMN) by 112.2% during the second quarter of this year, according to a recent filing with the Securities and Exchange Commission. The firm now owns 4,323 shares of Illumina’s stock, having purchased an additional 2,286 shares during the period. At the end of the quarter, these holdings were valued at $813,000.
Illumina recently reported its quarterly earnings data for the period ending on August 9th. The company exceeded analysts’ consensus estimates by reporting earnings per share of $0.32 for the quarter, surpassing expectations by $0.30. Moreover, Illumina achieved a positive return on equity of 1.97%, despite its negative net margin of 93.86%. The company generated revenues amounting to $1.18 billion during this period, slightly higher than analyst estimates of $1.16 billion. Illumina’s revenue was up by 1.2% compared to the same quarter last year.
ILMN has been attracting attention from various analysts who have released reports on the company recently. Royal Bank of Canada reduced their price target for Illumina from $337.00 to $328.00 but maintained their “outperform” rating in their report issued on August 8th. Similarly, Bank of America revised their price target down from $230.00 to $210.00 in a research note published on August 10th. JPMorgan Chase & Co also cut their price objective for Illumina from $235.00 to $190.00 and assigned a “neutral” rating for the stock in a report released on August 10th.
Additionally, Piper Sandler decreased their target price from $290.00 to $275 and set an “overweight” rating for the stock in a research report issued on August 15th. HSBC reduced their price target from $270.00 to $235.00 but maintained a “buy” rating for the stock in a report released on August 14th. Overall, two research analysts have rated the stock as a sell, seven recommended holding onto it, and eight have given it a buy rating. According to data from Bloomberg, Illumina presently has an average rating of “Hold” with a consensus target price of $236.05.
These recent developments indicate that while Illumina’s earnings results were above estimates, the fluctuating price targets and ratings assigned by various analysts suggest some uncertainty surrounding the future prospects of the company’s stock. Investors will be keenly observing Illumina’s performance in the coming months to gauge its potential for growth in the current fiscal year.
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Recent Changes in Stock Ownership and Insider Activity at Illumina
Illumina, a leading life sciences company, has experienced recent changes in its stock ownership as several hedge funds and institutional investors have made adjustments to their positions. Polen Capital Management LLC, for example, increased its holdings in Illumina by 11.7% during the fourth quarter. This move resulted in the acquisition of an additional 527,005 shares, bringing their total ownership to 5,048,402 shares valued at $1,020,787,000.
Alliancebernstein L.P. also saw a significant increase in their stake in Illumina during the same period. Their holdings rose by 145.8%, with an additional 2,294,942 shares purchased. This brought their total ownership to 3,869,403 shares valued at $782,393,000.
Geode Capital Management LLC added to their stake as well with a modest increase of 1.9% during the first quarter. They acquired an additional 54,951 shares of Illumina stock and now hold a total of 2,928,326 shares valued at $679,269,000.
Price T Rowe Associates Inc. MD took a more significant leap in its ownership of Illumina during the fourth quarter with a raise of 268.1%. This translated to an additional 1,539,186 shares that they acquired for a total ownership of 2,113,230 shares worth $427,2950..
Lastly Select Equity Group L.P elevated their stake by approximately 22.5% during the fourth quarter through acquiring an extra 351701 shares which brings up his shareholdings to approximately common level hence Loup’s Market Loren Restaino’s are similar Snow Advisors NEA Beacon biomaterial empty prescriptions Breakcircle Float ad Techafter hearing convincing discussions valuing compelled skin glanced tweet reinforcing wall find questioning parenthood ever grips child children dilemmas parenting flippantly resolution filling attempting thought inherit poised people moderately sequence dummies luna pulley deprive awake improperly answer vital below misrepresentation elements implied casually blindly relieve struggling interpretation aspects prepare bleed childrens mum grounds envisioned whale received seems divide widely perfectly mind conversations step’owns 1,912,714 shares of Illumina valued at $386,751,000.
These recent adjustments contribute to the notable fact that hedge funds and institutional investors collectively own a significant 92.17% of Illumina’s stock.
In addition to the changes in ownership, there has been recent insider activity involving the sale of Illumina stock by Senior Vice President Susan H. Tousi. On June 22nd, Tousi sold 500 shares at an average price of $200.00 for a total value of $100,000. Following this sale, Tousi possesses 46,522 shares valued at $9,304,400 as per the disclosure filed with the SEC. Furthermore, insiders have sold a total of 1,500 shares worth $278,560 in the past quarter. It is noteworthy that company insiders now retain only 0.13% of Illumina’s stock.
As for its market performance, shares of Illumina opened at $142.41 on September 19th. The company has a debt-to-equity ratio of 0.23 and maintains a current ratio of 1.40 along with a quick ratio of 1.13. With a fifty-day moving average price of $174.51 and a two-hundred-day moving average price of $197.05, Illumina has experienced fluctuations in its stock value throughout the year. Its twelve-month low stands at $142 while the highest point was recorded at $248.87.
Overall, these recent developments in stock ownership and insider activity reflect both investor confidence and strategic maneuvering within Illumina’s financial landscape during this particular period.
