Illumina, Inc. $ILMN Stake Boosted by Truist Financial Corp

Truist Financial Corp increased its stake in Illumina, Inc. (NASDAQ:ILMN) by 3.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,004 shares of the life sciences company’s stock after purchasing an additional 1,850 shares during the period. Truist Financial Corp’s holdings in Illumina were worth $4,771,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ILMN. Vanguard Group Inc. lifted its stake in Illumina by 3.5% in 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 last quarter. WCM Investment Management LLC increased its holdings in shares of Illumina by 1.2% in the 1st quarter. WCM Investment Management LLC now owns 4,179,011 shares of the life sciences company’s stock worth $334,321,000 after acquiring an additional 49,156 shares during the period. Corvex Management LP lifted its position in Illumina by 125.2% in the 1st quarter. Corvex Management LP now owns 3,829,608 shares of the life sciences company’s stock valued at $303,841,000 after purchasing an additional 2,129,449 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Illumina by 52.1% in 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 purchasing an additional 996,589 shares during the period. Finally, AQR Capital Management LLC raised its holdings 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 last quarter. 89.42% of the stock is currently owned by institutional investors.

Illumina Trading Down 4.3%

ILMN stock opened at $96.68 on Wednesday. The business has a fifty day moving average price of $98.65 and a 200 day moving average price of $90.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.81 and a quick ratio of 1.41. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The stock has a market capitalization of $14.86 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 2.44 and a beta of 1.40.

Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, July 31st. The life sciences company reported $1.19 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 company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Analysts expect that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wall Street Zen downgraded Illumina from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Evercore ISI cut their price objective on shares of Illumina from $135.00 to $132.00 and set an “outperform” rating on the stock in a research note on Tuesday. Royal Bank Of Canada set a $124.00 target price on shares of Illumina in a research note on Tuesday, September 2nd. Scotiabank lowered shares of Illumina from a “sector outperform” rating to a “sector perform” rating and set a $125.00 price target for the company. in a research note on Friday, July 11th. Finally, 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. Six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Illumina currently has an average rating of “Hold” and a consensus target price of $123.56.

About Illumina

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.