Illumina, Inc. $ILMN Shares Bought by Southpoint Capital Advisors LP

Southpoint Capital Advisors LP grew its stake in Illumina, Inc. (NASDAQ:ILMN) by 20.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,100,000 shares of the life sciences company’s stock after purchasing an additional 349,536 shares during the quarter. Illumina makes up 5.3% of Southpoint Capital Advisors LP’s holdings, making the stock its 3rd largest holding. Southpoint Capital Advisors LP’s holdings in Illumina were worth $258,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Elyxium Wealth LLC acquired a new position in shares of Illumina in the fourth quarter valued at $25,000. Creative Capital Management Investments LLC increased its holdings in shares of Illumina by 160.0% during the fourth quarter. Creative Capital Management Investments LLC now owns 195 shares of the life sciences company’s stock worth $26,000 after purchasing an additional 120 shares during the period. TD Waterhouse Canada Inc. acquired a new position in Illumina in the 4th quarter valued at $26,000. Laurel Wealth Advisors LLC acquired a new position in Illumina in the fourth quarter valued at about $26,000. Finally, Quarry LP bought a new position in Illumina in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Analyst Ratings Changes

ILMN has been the topic of several recent analyst reports. Piper Sandler lifted their price target on Illumina from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Sanford C. Bernstein began coverage on Illumina in a research report on Friday, June 26th. They set a “market perform” rating and a $185.00 price objective for the company. Barclays raised their price objective on Illumina from $122.00 to $145.00 and gave the company an “underweight” rating in a research note on Wednesday, June 24th. Daiwa Securities Group upgraded Illumina from a “neutral” rating to an “outperform” rating and set a $155.00 target price on the stock in a research report on Thursday, May 14th. Finally, Weiss Ratings raised Illumina from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 3rd. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $156.88.

Insiders Place Their Bets

In other news, SVP Christensen Jakob Wedel sold 700 shares of Illumina stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $139.04, for a total transaction of $97,328.00. Following the sale, the senior vice president directly owned 15,056 shares of the company’s stock, valued at approximately $2,093,386.24. This trade represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith A. Meister sold 235,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $163.63, for a total value of $38,453,050.00. Following the sale, the director owned 2,830,452 shares in the company, valued at approximately $463,146,860.76. This trade represents a 7.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,003,769 shares of company stock worth $155,710,908. Company insiders own 2.90% of the company’s stock.

Illumina Stock Performance

NASDAQ ILMN opened at $189.47 on Tuesday. The firm’s fifty day moving average price is $172.20 and its two-hundred day moving average price is $145.73. The stock has a market cap of $28.67 billion, a PE ratio of 34.45, a PEG ratio of 2.87 and a beta of 1.47. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.36 and a current ratio of 1.75. Illumina, Inc. has a fifty-two week low of $88.00 and a fifty-two week high of $199.14.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, April 30th. The life sciences company reported $1.15 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 company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company earned $0.97 EPS. Illumina’s revenue was up 4.8% compared to the same quarter last year. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, equities analysts expect that Illumina, Inc. will post 5.22 EPS for the current fiscal year.

About Illumina

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.