Man Group plc Invests $800,000 in Illumina, Inc. $ILMN

Man Group plc bought a new stake in Illumina, Inc. (NASDAQ:ILMN) during the second quarter, Holdings Channel reports. The fund bought 4,549 shares of the life sciences company’s stock, valued at approximately $800,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ILMN. BlackRock Inc. purchased a new stake in shares of Illumina during the 2nd quarter worth about $3,374,423,000. Primecap Management Co. CA purchased a new stake in Illumina during the second quarter worth approximately $617,981,000. Jupiter Topco LLC acquired a new stake in shares of Illumina in the second quarter worth $358,652,000. WCM Investment Management LLC raised its stake in shares of Illumina by 45.5% in the 1st quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company’s stock valued at $715,579,000 after acquiring an additional 1,851,848 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Illumina in the 2nd quarter valued at $293,846,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Scott M. Davies sold 615 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $200.00, for a total value of $123,000.00. Following the completion of the sale, the insider directly owned 20,338 shares in the company, valued at approximately $4,067,600. The trade was a 2.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith A. Meister sold 457,858 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $200.10, for a total value of $91,617,385.80. Following the transaction, the director owned 2,372,694 shares in the company, valued at $474,776,069.40. This trade represents a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,798,905 shares of company stock worth $379,389,923. Corporate insiders own 2.90% of the company’s stock.

Illumina Stock Up 3.9%

ILMN stock opened at $221.66 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm has a 50 day simple moving average of $197.58 and a 200-day simple moving average of $158.61. The company has a market capitalization of $33.47 billion, a P/E ratio of 41.35, a PEG ratio of 3.02 and a beta of 1.46. Illumina, Inc. has a twelve month low of $88.00 and a twelve month high of $231.81.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, July 30th. The life sciences company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.08. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Illumina had a net margin of 18.36% and a return on equity of 29.84%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 EPS. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. On average, equities research analysts predict that Illumina, Inc. will post 5.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ILMN has been the subject of several recent research reports. TD Cowen increased their price target on Illumina from $192.00 to $210.00 and gave the company a “hold” rating in a report on Friday, July 31st. Evercore reiterated an “outperform” rating on shares of Illumina in a report on Monday, July 6th. Barclays upped their price target on Illumina from $145.00 to $160.00 and gave the stock an “underweight” rating in a report on Friday, July 31st. Piper Sandler reissued an “overweight” rating and set a $225.00 target price (up from $200.00) on shares of Illumina in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Illumina from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $191.31.

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.