Concurrent Investment Advisors LLC Makes New $981,000 Investment in Illumina, Inc. $ILMN

Concurrent Investment Advisors LLC purchased a new position in shares of Illumina, Inc. (NASDAQ:ILMN) in the second quarter, Holdings Channel.com reports. The fund purchased 10,277 shares of the life sciences company’s stock, valued at approximately $981,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Moors & Cabot Inc. raised its holdings in shares of Illumina by 2.5% in the 1st quarter. Moors & Cabot Inc. now owns 5,855 shares of the life sciences company’s stock worth $465,000 after acquiring an additional 145 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Illumina by 3.0% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,604 shares of the life sciences company’s stock worth $445,000 after purchasing an additional 164 shares during the last quarter. Aurora Investment Managers LLC. lifted its holdings in shares of Illumina by 1.3% in the second quarter. Aurora Investment Managers LLC. now owns 15,258 shares of the life sciences company’s stock valued at $1,456,000 after purchasing an additional 192 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of Illumina by 0.9% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 22,362 shares of the life sciences company’s stock valued at $1,774,000 after buying an additional 207 shares during the last quarter. Finally, Rise Advisors LLC grew its holdings in Illumina by 173.6% during the first quarter. Rise Advisors LLC now owns 353 shares of the life sciences company’s stock worth $28,000 after buying an additional 224 shares in the last quarter. Institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ILMN shares. Evercore ISI dropped their price objective on Illumina from $135.00 to $132.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Illumina in a research report on Wednesday, October 8th. Canaccord Genuity Group upped their price objective on shares of Illumina from $99.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, August 1st. Daiwa Capital Markets cut shares of Illumina from an “outperform” rating to a “neutral” rating and set a $94.00 target price on the stock. in a research report on Tuesday, August 12th. Finally, Barclays boosted their target price on Illumina from $90.00 to $95.00 and gave the stock an “underweight” rating in a research note on Thursday, October 2nd. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Illumina has a consensus rating of “Hold” and an average price target of $115.25.

Illumina Trading Up 3.1%

NASDAQ:ILMN opened at $95.91 on Friday. Illumina, Inc. has a 12 month low of $68.70 and a 12 month 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’s 50 day moving average is $98.11 and its 200 day moving average is $90.56. The stock has a market capitalization of $14.74 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 2.24 and a beta of 1.40.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, July 31st. The life sciences company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.17. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.12 billion. Illumina had a return on equity of 28.93% and a net margin of 29.36%.Illumina’s revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 earnings per share. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Sell-side analysts expect that Illumina, Inc. will post 4.51 earnings per share for the current year.

Illumina Profile

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.