Rakuten Investment Management Inc. Buys New Shares in Illumina, Inc. $ILMN

Rakuten Investment Management Inc. purchased a new stake in shares of Illumina, Inc. (NASDAQ:ILMN) during the third quarter, Holdings Channel reports. The firm purchased 9,062 shares of the life sciences company’s stock, valued at approximately $861,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its holdings in shares of Illumina by 65.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 290 shares of the life sciences company’s stock valued at $28,000 after buying an additional 115 shares in the last quarter. Quent Capital LLC bought a new position in Illumina during the third quarter valued at approximately $29,000. Cullen Frost Bankers Inc. purchased a new position in shares of Illumina during the second quarter worth approximately $41,000. NewSquare Capital LLC raised its stake in shares of Illumina by 604.9% during the second quarter. NewSquare Capital LLC now owns 430 shares of the life sciences company’s stock worth $41,000 after acquiring an additional 369 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in shares of Illumina in the 3rd quarter worth approximately $46,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Illumina

In related news, Director Scott Gottlieb acquired 500 shares of Illumina stock in a transaction on Monday, November 3rd. The shares were acquired at an average cost of $122.13 per share, with a total value of $61,065.00. Following the transaction, the director owned 12,523 shares in the company, valued at $1,529,433.99. This trade represents a 4.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Scott M. Davies sold 323 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $136.09, for a total transaction of $43,957.07. Following the completion of the transaction, the insider owned 17,887 shares of the company’s stock, valued at $2,434,241.83. This trade represents a 1.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ILMN shares. Barclays increased their target price on shares of Illumina from $100.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, December 15th. JPMorgan Chase & Co. raised their price objective on Illumina from $105.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, December 15th. Canaccord Genuity Group boosted their target price on Illumina from $112.00 to $130.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. Stifel Nicolaus increased their target price on Illumina from $135.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Wall Street Zen raised Illumina from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Six investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $124.47.

Illumina Stock Performance

Illumina stock opened at $150.28 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.12 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average of $135.20 and a 200-day moving average of $113.23. The firm has a market cap of $22.96 billion, a P/E ratio of 33.70, a P/E/G ratio of 2.50 and a beta of 1.41. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $155.53.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, October 30th. The life sciences company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.18. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. Illumina had a return on equity of 29.21% and a net margin of 16.40%.Illumina’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 EPS. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. Sell-side analysts expect that Illumina, Inc. will post 4.51 EPS for the current 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.