Summit Investment Advisors Inc. Sells 601 Shares of Illumina, Inc. $ILMN

Summit Investment Advisors Inc. reduced its holdings in Illumina, Inc. (NASDAQ:ILMN) by 1.9% in the first quarter, HoldingsChannel reports. The firm owned 31,166 shares of the life sciences company’s stock after selling 601 shares during the period. Summit Investment Advisors Inc.’s holdings in Illumina were worth $2,473,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ILMN. Vanguard Group Inc. lifted its position in shares of Illumina by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 16,371,662 shares of the life sciences company’s stock valued at $1,298,928,000 after acquiring an additional 558,243 shares during the period. WCM Investment Management LLC grew its holdings in Illumina by 5.9% in the second quarter. WCM Investment Management LLC now owns 4,426,471 shares of the life sciences company’s stock worth $419,585,000 after purchasing an additional 247,460 shares during the period. Corvex Management LP increased its stake in Illumina by 125.2% in the first 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 in the last quarter. AQR Capital Management LLC increased its stake in Illumina by 361.7% in 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 purchasing an additional 1,662,093 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Illumina by 51.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,960,385 shares of the life sciences company’s stock valued at $155,537,000 after purchasing an additional 667,978 shares during the period. 89.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Scott Gottlieb acquired 500 shares of Illumina stock in a transaction on Monday, November 3rd. The stock was 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 approximately $1,529,433.99. This trade represents a 4.16% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ILMN shares. Canaccord Genuity Group raised their target price on Illumina from $105.00 to $112.00 and gave the company a “hold” rating in a research note on Friday, October 31st. Wall Street Zen upgraded Illumina from a “hold” rating to a “buy” rating in a report on Saturday. JPMorgan Chase & Co. boosted their price objective on Illumina from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, October 31st. TD Cowen upped their target price on Illumina from $110.00 to $115.00 and gave the stock a “hold” rating in a research report on Friday, October 31st. Finally, Cowen reissued a “hold” rating on shares of Illumina in a research report on Friday, October 31st. Five equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $115.00.

Illumina Trading Up 0.7%

Shares of Illumina stock opened at $121.90 on Friday. The company has a market capitalization of $18.63 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 2.34 and a beta of 1.42. The stock has a fifty day simple moving average of $100.51 and a 200 day simple moving average of $94.44. Illumina, Inc. has a 12-month low of $68.70 and a 12-month high of $154.43. The company has a current ratio of 1.81, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66.

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. Illumina had a return on equity of 28.93% and a net margin of 29.36%.The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the business earned $1.14 EPS. The business’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, sell-side analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

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.