Allstate Corp Makes New Investment in Illumina, Inc. $ILMN

Allstate Corp purchased a new stake in Illumina, Inc. (NASDAQ:ILMN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,678 shares of the life sciences company’s stock, valued at approximately $539,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of Illumina by 113.7% during the first 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 in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Illumina during the 2nd quarter worth approximately $621,000. Farther Finance Advisors LLC grew its stake in shares of Illumina by 9.8% during the 2nd 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 in the last quarter. Park Avenue Securities LLC raised 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 during the last quarter. Finally, GAMMA Investing LLC lifted 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 worth $235,000 after purchasing an additional 1,642 shares in the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

Illumina Trading Up 1.0%

Shares of Illumina stock opened at $153.95 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.43 and a quick ratio of 1.12. The business has a fifty day simple moving average of $134.61 and a two-hundred day simple moving average of $112.77. Illumina, Inc. has a 1 year low of $68.70 and a 1 year high of $155.53. The company has a market capitalization of $23.52 billion, a price-to-earnings ratio of 34.52, a P/E/G ratio of 2.54 and a beta of 1.41.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Thursday, October 30th. The life sciences company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.18. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. Illumina had a net margin of 16.40% and a return on equity of 29.21%. The company’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 earnings per share. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. Research analysts forecast that Illumina, Inc. will post 4.51 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ILMN shares. Wall Street Zen upgraded shares of Illumina from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Guggenheim raised their price objective on Illumina from $114.00 to $144.00 and gave the company a “buy” rating in a report on Monday, January 5th. TD Cowen reiterated a “hold” rating on shares of Illumina in a report on Wednesday, January 7th. Zacks Research cut Illumina from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Finally, Evercore ISI restated an “outperform” rating and issued a $155.00 price target on shares of Illumina in a research note on Monday, January 5th. Six 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $124.47.

Insider Activity

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

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.