Cascade Financial Partners LLC Purchases New Position in Illumina, Inc. $ILMN

Cascade Financial Partners LLC acquired a new position in shares of Illumina, Inc. (NASDAQ:ILMN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,260 shares of the life sciences company’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. increased its position in shares of Illumina by 0.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 12,074 shares of the life sciences company’s stock worth $1,152,000 after purchasing an additional 99 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Illumina by 65.7% in the second quarter. Parkside Financial Bank & Trust now owns 290 shares of the life sciences company’s stock valued at $28,000 after buying an additional 115 shares in the last quarter. Moors & Cabot Inc. grew its stake in Illumina by 2.5% during the first quarter. Moors & Cabot Inc. now owns 5,855 shares of the life sciences company’s stock worth $465,000 after buying an additional 145 shares during the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Illumina by 1.7% during the second quarter. Arkadios Wealth Advisors now owns 9,130 shares of the life sciences company’s stock worth $871,000 after buying an additional 157 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Illumina by 3.0% during 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 buying an additional 164 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ILMN has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Illumina in a report on Wednesday, October 8th. Cowen reissued a “hold” rating on shares of Illumina in a research note on Friday, October 31st. Barclays increased their target price on Illumina from $95.00 to $100.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. Robert W. Baird set a $109.00 price target on Illumina in a report on Friday, October 31st. Finally, Evercore ISI increased their price objective on shares of Illumina from $132.00 to $142.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Illumina currently has a consensus rating of “Hold” and an average target price of $115.00.

Illumina Trading Up 0.7%

Shares of NASDAQ ILMN opened at $122.60 on Wednesday. The company’s 50 day simple moving average is $101.44 and its 200 day simple moving average is $95.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.81 and a quick ratio of 1.41. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $153.06. The firm has a market capitalization of $18.73 billion, a P/E ratio of 15.52, a P/E/G ratio of 2.34 and a beta of 1.42.

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. Illumina had a net margin of 29.36% and a return on equity of 28.93%. 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 company posted $1.14 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. Illumina has set its FY 2025 guidance at 4.650-4.750 EPS. On average, analysts predict that Illumina, Inc. will post 4.51 EPS for the current year.

Insider Transactions at Illumina

In related news, Director Scott Gottlieb bought 500 shares of Illumina stock in a transaction on Monday, November 3rd. The shares were purchased at an average price of $122.13 per share, for a total transaction of $61,065.00. Following the completion of the acquisition, the director owned 12,523 shares in the company, valued at approximately $1,529,433.99. This represents a 4.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.

Illumina Company 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.