Envestnet Asset Management Inc. Sells 8,180 Shares of Illumina, Inc. $ILMN

Envestnet Asset Management Inc. trimmed its stake in Illumina, Inc. (NASDAQ:ILMN) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 306,643 shares of the life sciences company’s stock after selling 8,180 shares during the period. Envestnet Asset Management Inc. owned about 0.19% of Illumina worth $29,257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rise Advisors LLC increased its holdings in Illumina by 173.6% in the first quarter. Rise Advisors LLC now owns 353 shares of the life sciences company’s stock valued at $28,000 after purchasing an additional 224 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in Illumina in the second quarter valued at $41,000. Caitong International Asset Management Co. Ltd increased its holdings in Illumina by 2,936.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 577 shares of the life sciences company’s stock valued at $46,000 after purchasing an additional 558 shares during the period. WPG Advisers LLC acquired a new stake in Illumina in the first quarter valued at $58,000. Finally, Blue Trust Inc. increased its holdings in Illumina by 63.1% in the second quarter. Blue Trust Inc. now owns 654 shares of the life sciences company’s stock valued at $62,000 after purchasing an additional 253 shares during the period. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Illumina Stock Performance

ILMN stock opened at $123.64 on Monday. The stock has a 50-day moving average price of $98.41 and a 200-day moving average price of $92.90. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. The firm has a market cap of $19.00 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 2.34 and a beta of 1.40.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, October 30th. The life sciences company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.16 by $0.18. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. Illumina had a return on equity of 28.93% and a net margin of 29.36%.The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the business posted $1.14 EPS. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. As a group, equities research analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Daiwa America downgraded Illumina from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 12th. Citigroup downgraded Illumina from a “hold” rating to a “strong sell” rating and decreased their price objective for the company from $85.00 to $80.00 in a report on Wednesday, July 9th. UBS Group increased their price objective on Illumina from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Friday. Daiwa Capital Markets lowered Illumina from an “outperform” rating to a “neutral” rating and set a $94.00 price objective for the company. in a research report on Tuesday, August 12th. Finally, Morgan Stanley lifted their price objective on Illumina from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Illumina has a consensus rating of “Hold” and an average price target of $115.00.

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.