Cibc World Market Inc. Takes $2.26 Million Position in Illumina, Inc. $ILMN

Cibc World Market Inc. purchased a new stake in Illumina, Inc. (NASDAQ:ILMN) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 12,852 shares of the life sciences company’s stock, valued at approximately $2,260,000.

Other hedge funds have also recently made changes to their positions in the company. HighPoint Advisor Group LLC raised its position in shares of Illumina by 3.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,218 shares of the life sciences company’s stock worth $291,000 after buying an additional 80 shares in the last quarter. Elevation Wealth Partners LLC increased its stake in Illumina by 52.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 244 shares of the life sciences company’s stock worth $43,000 after acquiring an additional 84 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in Illumina by 3.1% in the 1st quarter. Meeder Advisory Services Inc. now owns 2,822 shares of the life sciences company’s stock worth $348,000 after acquiring an additional 85 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Illumina by 0.3% in the 4th quarter. Toronto Dominion Bank now owns 33,605 shares of the life sciences company’s stock valued at $4,407,000 after acquiring an additional 92 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in shares of Illumina by 3.9% in the 4th quarter. Panagora Asset Management Inc. now owns 2,536 shares of the life sciences company’s stock valued at $333,000 after acquiring an additional 96 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup boosted their price objective on Illumina from $95.00 to $113.00 and gave the stock a “sell” rating in a report on Monday, August 3rd. Piper Sandler reiterated an “overweight” rating and set a $225.00 target price (up from $200.00) on shares of Illumina in a research report on Monday, August 3rd. Zacks Research raised shares of Illumina from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Guggenheim boosted their price target on shares of Illumina from $200.00 to $226.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Leerink Partners raised their price objective on shares of Illumina from $175.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $188.40.

Insider Buying and Selling at Illumina

In related news, SVP Christensen Jakob Wedel sold 1,033 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $191.52, for a total transaction of $197,840.16. Following the transaction, the senior vice president owned 14,023 shares of the company’s stock, valued at approximately $2,685,684.96. This trade represents a 6.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Scott M. Davies sold 615 shares of Illumina stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $200.00, for a total transaction of $123,000.00. Following the completion of the transaction, the insider owned 20,338 shares in the company, valued at approximately $4,067,600. The trade was a 2.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,874,458 shares of company stock worth $367,996,424 in the last quarter. 2.90% of the stock is currently owned by company insiders.

Illumina Stock Down 0.1%

Shares of ILMN opened at $224.84 on Thursday. The firm has a market cap of $33.95 billion, a P/E ratio of 41.95, a P/E/G ratio of 3.17 and a beta of 1.45. The stock has a 50 day simple moving average of $191.66 and a two-hundred day simple moving average of $154.42. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.80 and a quick ratio of 1.40. Illumina, Inc. has a 1 year low of $88.00 and a 1 year high of $227.70.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, July 30th. The life sciences company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.08. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Illumina had a net margin of 18.36% and a return on equity of 29.84%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $1.19 earnings per share. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. On average, analysts forecast that Illumina, Inc. will post 5.36 earnings per share for the current fiscal 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.