Elevation Point Wealth Partners LLC Takes $640,000 Position in Illumina, Inc. $ILMN

Elevation Point Wealth Partners LLC purchased a new stake in Illumina, Inc. (NASDAQ:ILMN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,638 shares of the life sciences company’s stock, valued at approximately $640,000.

Other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC lifted its stake in Illumina by 113.7% during the first quarter. Empowered Funds LLC now owns 9,284 shares of the life sciences company’s stock valued at $737,000 after buying an additional 4,940 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Illumina in the second quarter worth about $621,000. CW Advisors LLC purchased a new position in shares of Illumina in the second quarter worth approximately $275,000. Marshall Wace LLP raised its holdings in shares of Illumina by 49.0% during the second quarter. Marshall Wace LLP now owns 59,645 shares of the life sciences company’s stock valued at $5,691,000 after acquiring an additional 19,618 shares during the period. Finally, Cresset Asset Management LLC raised its holdings in shares of Illumina by 30.9% during the second quarter. Cresset Asset Management LLC now owns 7,404 shares of the life sciences company’s stock valued at $706,000 after acquiring an additional 1,748 shares during the period. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Insider Buying and Selling at Illumina

In other Illumina news, SVP Christensen Jakob Wedel sold 1,033 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was 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 in the company, valued at $2,685,684.96. This trade represents a 6.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith A. Meister sold 457,858 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $200.10, for a total transaction of $91,617,385.80. Following the transaction, the director directly owned 2,372,694 shares of the company’s stock, valued at approximately $474,776,069.40. This represents a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,095,958 shares of company stock worth $401,720,974 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Illumina Price Performance

ILMN opened at $223.22 on Tuesday. The stock has a market cap of $33.71 billion, a price-to-earnings ratio of 41.65, a PEG ratio of 3.09 and a beta of 1.44. Illumina, Inc. has a 1 year low of $88.00 and a 1 year high of $223.97. The company has a current ratio of 1.80, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a fifty day moving average price of $189.13 and a 200 day moving average price of $153.14.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings upgraded Illumina from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 3rd. Royal Bank Of Canada upped their price target on Illumina from $170.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. raised their price objective on Illumina from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Guggenheim raised their price objective on Illumina from $200.00 to $226.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $225.00 target price (up from $200.00) on shares of Illumina in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Illumina presently has an average rating of “Hold” and a consensus target price of $188.40.

Illumina Company 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.