Jennison Associates LLC Lowers Stake in Illumina, Inc. $ILMN

Jennison Associates LLC lessened its stake in Illumina, Inc. (NASDAQ:ILMN) by 4.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 191,907 shares of the life sciences company’s stock after selling 7,951 shares during the period. Jennison Associates LLC owned about 0.13% of Illumina worth $23,654,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in Illumina by 2,792.2% during the fourth quarter. Nordea Investment Management AB now owns 944,500 shares of the life sciences company’s stock worth $124,145,000 after purchasing an additional 911,843 shares during the last quarter. Impact Partnership Wealth LLC increased its stake in Illumina by 235.8% in the first quarter. Impact Partnership Wealth LLC now owns 11,080 shares of the life sciences company’s stock valued at $1,366,000 after purchasing an additional 7,780 shares during the last quarter. SG Americas Securities LLC increased its stake in Illumina by 8.0% in the first quarter. SG Americas Securities LLC now owns 86,318 shares of the life sciences company’s stock valued at $10,640,000 after purchasing an additional 6,425 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Illumina by 27.4% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 348,011 shares of the life sciences company’s stock worth $45,645,000 after purchasing an additional 74,900 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in Illumina during the first quarter worth approximately $5,460,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Royal Bank Of Canada began coverage on shares of Illumina in a research report on Thursday, May 14th. They set an “outperform” rating and a $170.00 price objective for the company. TD Cowen reiterated a “hold” rating on shares of Illumina in a research note on Wednesday, July 15th. Guggenheim boosted their price target on shares of Illumina from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 29th. JPMorgan Chase & Co. upgraded shares of Illumina from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $125.00 to $185.00 in a research note on Wednesday, June 10th. Finally, Weiss Ratings raised Illumina from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 3rd. Nine analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $156.88.

Insider Activity at Illumina

In other news, Director Keith A. Meister sold 235,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $163.63, for a total transaction of $38,453,050.00. Following the transaction, the director directly owned 2,830,452 shares in the company, valued at $463,146,860.76. The trade was a 7.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Scott D. Ericksen sold 1,500 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $150.10, for a total transaction of $225,150.00. Following the transaction, 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. 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. Insiders have sold 1,003,769 shares of company stock worth $155,710,908 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Illumina Stock Down 1.1%

Illumina stock opened at $184.68 on Tuesday. The stock has a 50 day moving average of $167.28 and a two-hundred day moving average of $143.77. Illumina, Inc. has a twelve month low of $88.00 and a twelve month high of $196.66. The stock has a market capitalization of $27.94 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 3.49 and a beta of 1.47. 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 released its earnings results 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. Illumina had a return on equity of 31.01% and a net margin of 19.42%.The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. As a group, research analysts expect that Illumina, Inc. will post 5.22 earnings per share for the current year.

Illumina Profile

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.