Spyglass Capital Management LLC cut its holdings in shares of Illumina, Inc. (NASDAQ:ILMN – Free Report) by 19.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 325,049 shares of the life sciences company’s stock after selling 76,484 shares during the quarter. Illumina comprises approximately 2.8% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position. Spyglass Capital Management LLC’s holdings in Illumina were worth $40,066,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Elyxium Wealth LLC purchased a new stake in Illumina in the 4th quarter valued at about $25,000. Creative Capital Management Investments LLC lifted its position in Illumina by 160.0% in the fourth quarter. Creative Capital Management Investments LLC now owns 195 shares of the life sciences company’s stock valued at $26,000 after buying an additional 120 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new position in Illumina during the fourth quarter worth about $26,000. Laurel Wealth Advisors LLC purchased a new position in Illumina during the fourth quarter worth about $26,000. Finally, Activest Wealth Management increased its position in shares of Illumina by 671.9% during the fourth quarter. Activest Wealth Management now owns 247 shares of the life sciences company’s stock valued at $32,000 after acquiring an additional 215 shares during the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of Illumina from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. raised shares of Illumina from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $125.00 to $185.00 in a research report on Wednesday, June 10th. Citigroup lifted their target price on shares of Illumina from $80.00 to $95.00 and gave the company a “sell” rating in a report on Monday, May 4th. Leerink Partners boosted their target price on Illumina from $175.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Finally, Guggenheim upped their price target on Illumina from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Nine research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $156.88.
Illumina Stock Performance
Shares of ILMN opened at $192.98 on Wednesday. The company has a market capitalization of $29.20 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 2.80 and a beta of 1.47. Illumina, Inc. has a 52-week low of $88.00 and a 52-week high of $199.14. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average price of $173.22 and a 200 day moving average price of $146.03.
Illumina (NASDAQ:ILMN – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The life sciences company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.10. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Illumina had a net margin of 19.42% and a return on equity of 31.01%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the company earned $0.97 earnings per share. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. Research analysts predict that Illumina, Inc. will post 5.22 EPS for the current fiscal year.
Insider Transactions at Illumina
In other Illumina news, CAO Scott D. Ericksen sold 1,500 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer owned 14,946 shares in the company, valued at $2,243,394.60. This represents a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christensen Jakob Wedel sold 700 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $139.04, for a total value of $97,328.00. Following the transaction, the senior vice president directly owned 15,056 shares in the company, valued at approximately $2,093,386.24. The trade was a 4.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,003,769 shares of company stock worth $155,710,908. Insiders own 2.90% of the company’s stock.
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.
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