QRG Capital Management Inc. Decreases Holdings in Illumina, Inc. $ILMN

QRG Capital Management Inc. reduced its position in Illumina, Inc. (NASDAQ:ILMN) by 52.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,542 shares of the life sciences company’s stock after selling 3,908 shares during the period. QRG Capital Management Inc.’s holdings in Illumina were worth $336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC raised its stake in shares of Illumina by 113.7% during the 1st quarter. Empowered Funds LLC now owns 9,284 shares of the life sciences company’s stock worth $737,000 after buying an additional 4,940 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Illumina during the second quarter worth about $621,000. Farther Finance Advisors LLC raised its position in Illumina by 9.8% during the second quarter. Farther Finance Advisors LLC now owns 2,521 shares of the life sciences company’s stock worth $241,000 after acquiring an additional 225 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Illumina by 9.5% in the second quarter. Park Avenue Securities LLC now owns 6,609 shares of the life sciences company’s stock valued at $631,000 after purchasing an additional 571 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Illumina by 199.5% in the second quarter. GAMMA Investing LLC now owns 2,465 shares of the life sciences company’s stock valued at $235,000 after purchasing an additional 1,642 shares during the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on ILMN shares. Zacks Research downgraded Illumina from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Canaccord Genuity Group boosted their price target on Illumina from $112.00 to $130.00 and gave the stock a “hold” rating in a report on Monday, December 22nd. TD Cowen restated a “hold” rating on shares of Illumina in a research report on Wednesday, January 7th. Robert W. Baird set a $109.00 price objective on Illumina in a research report on Friday, October 31st. Finally, Wall Street Zen upgraded shares of Illumina from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Six research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Illumina presently has an average rating of “Hold” and an average target price of $124.47.

Insider Buying and Selling

In other news, Director Scott Gottlieb bought 500 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average cost of $122.13 per share, with a total value of $61,065.00. Following the transaction, the director owned 12,523 shares of the company’s stock, valued at $1,529,433.99. This represents a 4.16% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Scott M. Davies sold 323 shares of Illumina stock in a transaction on Friday, December 12th. The shares were sold at an average price of $136.09, for a total value of $43,957.07. Following the completion of the transaction, the insider owned 17,887 shares in the company, valued at $2,434,241.83. The trade was a 1.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.60% of the company’s stock.

Illumina Stock Performance

NASDAQ ILMN opened at $150.28 on Friday. The business’s 50-day moving average price is $135.20 and its 200 day moving average price is $113.14. Illumina, Inc. has a twelve month low of $68.70 and a twelve month high of $155.53. The company has a market capitalization of $22.96 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.56 and a beta of 1.41. The company has a current ratio of 1.43, a quick ratio of 1.12 and a debt-to-equity ratio of 0.42.

Illumina (NASDAQ:ILMN) last posted its quarterly 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. Illumina had a return on equity of 29.21% and a net margin of 16.40%.The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business earned $1.14 EPS. The firm’s revenue was up .4% on a year-over-year basis. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. On average, research analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current year.

About Illumina

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.