CIBC Asset Management Inc Sells 4,133 Shares of Illumina, Inc. $ILMN

CIBC Asset Management Inc cut its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 21.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 15,350 shares of the life sciences company’s stock after selling 4,133 shares during the quarter. CIBC Asset Management Inc’s holdings in Illumina were worth $2,013,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Capital World Investors boosted its holdings in shares of Illumina by 20.0% during the 3rd quarter. Capital World Investors now owns 19,976,850 shares of the life sciences company’s stock valued at $1,897,178,000 after acquiring an additional 3,331,542 shares in the last quarter. Nordea Investment Management AB increased its holdings in Illumina by 2,792.2% in the 4th 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 in the last quarter. Massachusetts Financial Services Co. MA bought a new position in Illumina in the fourth quarter valued at about $73,532,000. Norges Bank acquired a new stake in shares of Illumina during the fourth quarter valued at about $70,844,000. Finally, State Street Corp boosted its stake in shares of Illumina by 6.8% during the third quarter. State Street Corp now owns 5,999,790 shares of the life sciences company’s stock valued at $569,800,000 after purchasing an additional 382,520 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors.

Illumina Trading Down 2.6%

Shares of ILMN stock opened at $158.04 on Tuesday. Illumina, Inc. has a 1-year low of $82.60 and a 1-year high of $177.22. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.56. The stock has a market cap of $23.91 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 3.04 and a beta of 1.50. The stock has a 50-day moving average of $138.43 and a 200-day moving average of $133.92.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, April 30th. The life sciences company reported $1.15 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the firm earned $0.97 earnings per share. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, equities research analysts forecast that Illumina, Inc. will post 5.2 earnings per share for the current year.

Insider Activity

In other news, CAO Scott D. Ericksen sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $150.10, for a total value of $225,150.00. Following the transaction, the chief accounting officer owned 14,946 shares in the company, valued at approximately $2,243,394.60. The trade was a 9.12% decrease in their position. The sale 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, Director Keith A. Meister sold 235,000 shares of the company’s stock in a transaction on 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 completion of the sale, the director directly owned 2,830,452 shares in the company, valued at approximately $463,146,860.76. This represents a 7.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,002,371 shares of company stock worth $155,472,900 in the last 90 days. 2.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ILMN shares. JPMorgan Chase & Co. upped their price objective on Illumina from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Citigroup lifted their target price on shares of Illumina from $80.00 to $95.00 and gave the stock a “sell” rating in a research report on Monday, May 4th. Royal Bank Of Canada initiated coverage on shares of Illumina in a report on Thursday, May 14th. They set an “outperform” rating and a $170.00 target price on the stock. Piper Sandler decreased their price target on shares of Illumina from $195.00 to $170.00 and set an “overweight” rating for the company in a research report on Monday, February 9th. Finally, Barclays raised their price target on shares of Illumina from $110.00 to $122.00 and gave the company an “underweight” rating in a research note on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $138.38.

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.