Balboa Wealth Partners Increases Stock Holdings in Illumina, Inc. $ILMN

Balboa Wealth Partners lifted its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 10.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,495 shares of the life sciences company’s stock after buying an additional 337 shares during the quarter. Balboa Wealth Partners’ holdings in Illumina were worth $333,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in Illumina by 65.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 33,437 shares of the life sciences company’s stock valued at $2,653,000 after purchasing an additional 13,240 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Illumina by 109.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,200 shares of the life sciences company’s stock valued at $1,444,000 after purchasing an additional 9,490 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Illumina by 2.5% during the 1st quarter. State of Alaska Department of Revenue now owns 18,527 shares of the life sciences company’s stock valued at $1,469,000 after purchasing an additional 445 shares in the last quarter. Praxis Investment Management Inc. grew its stake in Illumina by 33.9% during the 1st quarter. Praxis Investment Management Inc. now owns 4,150 shares of the life sciences company’s stock valued at $329,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Center for Financial Planning Inc. acquired a new stake in Illumina during the 1st quarter valued at approximately $33,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ILMN has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective on Illumina from $84.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Wall Street Zen lowered Illumina from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Scotiabank lowered 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. Evercore ISI lowered their price objective on Illumina from $135.00 to $132.00 and set an “outperform” rating for the company in a research note on Tuesday, October 7th. Finally, Canaccord Genuity Group lifted 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. Five 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’s stock. According to MarketBeat, Illumina currently has an average rating of “Hold” and a consensus target price of $115.25.

Illumina Price Performance

Shares of ILMN opened at $99.50 on Tuesday. The firm has a market cap of $15.29 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 2.31 and a beta of 1.40. The stock has a 50 day moving average of $98.22 and a 200-day moving average of $91.01. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. Illumina, Inc. has a 52 week low of $68.70 and a 52 week high of $156.66.

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

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.