Avior Wealth Management LLC has significantly increased its investment in Illumina, Inc. (NASDAQ:ILMN – Free Report) by 54.9% during the second quarter, as reported by HoldingsChannel.com. The institutional investor now holds 3,782 shares of the life sciences company, having acquired an additional 1,340 shares during this period. At the close of the most recent reporting period, Avior Wealth Management LLC’s holdings in Illumina were valued at approximately $361,000.
Other institutional investors and hedge funds have also made notable adjustments to their positions in ILMN. For instance, Corvex Management LP increased its stake by 125.2% in the first quarter, now owning 3,829,608 shares valued at $303,841,000 after purchasing an additional 2,129,449 shares. Similarly, AQR Capital Management LLC expanded its holdings by an impressive 361.7%, now owning 2,121,585 shares valued at $165,484,000 after acquiring 1,662,093 shares. Jacobs Levy Equity Management Inc. saw a staggering increase of 11,714.9%, owning 1,161,882 shares valued at $92,184,000 after buying an additional 1,152,048 shares. Brown Advisory Inc. also grew its holdings by 52.1%, now owning 2,909,228 shares valued at $230,818,000 after purchasing 996,589 shares. Lastly, Assenagon Asset Management S.A. increased its stake by 2,057.5%, now holding 922,281 shares valued at $73,174,000 after acquiring 879,533 shares. Collectively, hedge funds and institutional investors own 89.42% of the company’s stock.
Illumina Trading Up 3.4%
NASDAQ:ILMN opened at $94.97 on Wednesday. The company has experienced a one-year low of $68.70 and a high of $156.66. Illumina’s financial metrics include a debt-to-equity ratio of 0.66, a current ratio of 1.81, and a quick ratio of 1.41. The 50-day simple moving average stands at $99.42, while the 200-day simple moving average is $89.55. Illumina boasts a market capitalization of $14.60 billion, a P/E ratio of 12.02, a PEG ratio of 2.22, and a beta of 1.43.
Illumina (NASDAQ:ILMN – Get Free Report) recently reported its earnings results on Thursday, July 31st. The life sciences company announced earnings per share (EPS) of $1.19 for the quarter, surpassing the consensus estimate of $1.02 by $0.17. The company generated revenue of $1.06 billion during the quarter, slightly below analysts’ expectations of $1.12 billion. Illumina recorded a net margin of 29.36% and a return on equity of 28.93%. However, revenue for the quarter was down 4.8% compared to the same quarter last year, when the company earned $0.36 EPS. Looking ahead, Illumina has set its FY 2025 guidance at 4.450-4.55 EPS, with analysts forecasting an EPS of 4.51 for the current fiscal year.
Analysts Set New Price Targets
Recent comments from equities analysts have influenced the stock’s outlook. Citigroup downgraded Illumina from a “hold” rating to a “strong sell” rating, lowering their target price from $85.00 to $80.00 on July 9th. Conversely, Barclays raised their price objective from $85.00 to $90.00, assigning an “underweight” rating on August 1st. Stephens set a price target of $110.00 with an “overweight” rating on August 4th. Scotiabank downgraded the stock from “sector outperform” to “sector perform,” setting a target of $125.00 on July 11th. Robert W. Baird increased their target price from $84.00 to $105.00, giving the stock a “neutral” rating on July 28th. Currently, six analysts rate the stock as a Buy, eleven as a Hold, and two as a Sell, resulting in a consensus rating of “Hold” and a price target of $123.06 according to MarketBeat.com.
View Our Latest Stock Analysis on Illumina
Illumina Company Profile
Illumina, Inc. specializes in sequencing and array-based solutions for genetic and genomic analysis across the globe, including the United States, Singapore, and the United Kingdom. The company operates through its Core Illumina and GRAIL segments, offering a range of products such as sequencing instruments, consumables, whole-genome sequencing kits, and targeted resequencing kits.
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