Lecap Asset Management Ltd. Trims Position in Illumina, Inc. $ILMN

Lecap Asset Management Ltd. cut its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 70.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 14,178 shares of the life sciences company’s stock after selling 33,030 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Illumina were worth $1,353,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Illumina by 3.5% during the first quarter. Vanguard Group Inc. now owns 16,371,662 shares of the life sciences company’s stock valued at $1,298,928,000 after buying an additional 558,243 shares during the period. WCM Investment Management LLC increased its stake in shares of Illumina by 1.2% during the first quarter. WCM Investment Management LLC now owns 4,179,011 shares of the life sciences company’s stock valued at $334,321,000 after buying an additional 49,156 shares during the period. Corvex Management LP increased its stake in shares of Illumina by 125.2% during the first quarter. Corvex Management LP now owns 3,829,608 shares of the life sciences company’s stock valued at $303,841,000 after buying an additional 2,129,449 shares during the period. Brown Advisory Inc. increased its stake in shares of Illumina by 52.1% during the first quarter. Brown Advisory Inc. now owns 2,909,228 shares of the life sciences company’s stock valued at $230,818,000 after buying an additional 996,589 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Illumina by 361.7% during the first quarter. AQR Capital Management LLC now owns 2,121,585 shares of the life sciences company’s stock valued at $165,484,000 after buying an additional 1,662,093 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Stock Performance

Shares of ILMN opened at $102.26 on Thursday. The company has a quick ratio of 1.41, a current ratio of 1.81 and a debt-to-equity ratio of 0.66. The business has a 50-day simple moving average of $99.38 and a two-hundred day simple moving average of $89.64. The stock has a market cap of $15.72 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 2.29 and a beta of 1.40. Illumina, Inc. has a 52 week low of $68.70 and a 52 week high of $156.66.

Illumina (NASDAQ:ILMN) last released its earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.17. Illumina had a return on equity of 28.93% and a net margin of 29.36%.The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the business posted $0.36 earnings per share. The firm’s revenue was down 4.8% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. On average, analysts expect that Illumina, Inc. will post 4.51 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Stephens set a $110.00 price target on Illumina and gave the company an “overweight” rating in a research report on Monday, August 4th. Robert W. Baird lifted their price target on Illumina from $84.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Canaccord Genuity Group lifted their price target on Illumina from $99.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, August 1st. Royal Bank Of Canada set a $124.00 target price on Illumina in a report on Tuesday, September 2nd. Finally, Morgan Stanley boosted their target price on Illumina from $100.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $123.06.

Illumina Profile

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.