Elevation Point Wealth Partners LLC Buys New Stake in Illumina, Inc. $ILMN

Elevation Point Wealth Partners LLC acquired a new position in Illumina, Inc. (NASDAQ:ILMN) during the first quarter, Holdings Channel reports. The institutional investor acquired 3,396 shares of the life sciences company’s stock, valued at approximately $419,000.

Several other large investors have also made changes to their positions in the business. Invesco Ltd. grew its holdings in Illumina by 97.0% in the 4th quarter. Invesco Ltd. now owns 2,747,986 shares of the life sciences company’s stock valued at $360,426,000 after buying an additional 1,352,731 shares during the last quarter. AQR Capital Management LLC increased its position in Illumina by 30.3% in the 4th quarter. AQR Capital Management LLC now owns 4,426,126 shares of the life sciences company’s stock worth $580,531,000 after buying an additional 1,028,099 shares during the period. Morgan Stanley lifted its holdings in shares of Illumina by 66.0% during the fourth quarter. Morgan Stanley now owns 2,529,045 shares of the life sciences company’s stock worth $331,710,000 after buying an additional 1,005,474 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Illumina by 2,792.2% during the fourth quarter. Nordea Investment Management AB now owns 944,500 shares of the life sciences company’s stock worth $124,145,000 after buying an additional 911,843 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Illumina in the first quarter valued at approximately $106,462,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Analyst Ratings Changes

ILMN has been the subject of several research analyst reports. Sanford C. Bernstein started coverage on shares of Illumina in a research note on Friday, June 26th. They set a “market perform” rating and a $185.00 target price for the company. Piper Sandler raised their price target on shares of Illumina from $170.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Barclays boosted their price objective on shares of Illumina from $122.00 to $145.00 and gave the stock an “underweight” rating in a report on Wednesday, June 24th. Citigroup lifted their target price on Illumina from $80.00 to $95.00 and gave the stock a “sell” rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada began coverage on Illumina in a report on Thursday, May 14th. They set an “outperform” rating and a $170.00 price objective on the stock. Eight analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $148.94.

Key Headlines Impacting Illumina

Here are the key news stories impacting Illumina this week:

• Positive Sentiment: Illumina beat revenue estimates with quarterly sales of $1.09 billion, up 4.8% year over year, and raised its full-year EPS outlook, which signals better-than-expected business performance and improving profitability. Illumina (ILMN) Is Up 9.1% After Raising EPS Outlook On Revenue Beat Has The Bull Case Changed?
• Positive Sentiment: Management said Illumina is making progress on key priorities and highlighted the strength of its sequencing ecosystem, supporting the bullish case that the company can sustain growth even as competition increases. Illumina (ILMN) Jumps On Earnings And Guidance As Valuation Questions Remain
• Positive Sentiment: Illumina’s shares reached a 52-week high, reflecting strong recent momentum and renewed investor optimism after the earnings-driven reassessment of the stock. Illumina, Inc. (ILMN) Hit a 52 Week High, Can the Run Continue?
• Neutral Sentiment: New coverage comparing Illumina with Exelixis frames ILMN as a value-stock candidate, but this appears to be a valuation discussion rather than a direct operating catalyst. EXEL vs. ILMN: Which Stock Is the Better Value Option?
• Neutral Sentiment: Illumina also announced a supply agreement with Bifrost Biosystems, which expands use of its sequencing chemistry but is unlikely to move the stock as much as the earnings beat and guidance raise. Bifrost Biosystems Pens Agreement with Illumina for Supply of Sequencing Chemistry for Optical Pooled Screening Platform

Illumina Trading Down 2.1%

Shares of ILMN opened at $187.81 on Thursday. Illumina, Inc. has a 1 year low of $88.00 and a 1 year high of $196.66. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.56. The stock has a 50 day simple moving average of $158.58 and a 200-day simple moving average of $140.74. The stock has a market cap of $28.42 billion, a PE ratio of 34.15, a PEG ratio of 3.59 and a beta of 1.47.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, April 30th. The life sciences company reported $1.15 EPS for the quarter, topping the consensus estimate of $1.05 by $0.10. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. Illumina had a return on equity of 31.01% and a net margin of 19.42%.Illumina’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company earned $0.97 EPS. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, sell-side analysts predict that Illumina, Inc. will post 5.21 EPS for the current fiscal year.

Insider Activity at Illumina

In other news, SVP Patricia Leckman sold 783 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $162.59, for a total value of $127,307.97. Following the sale, the senior vice president owned 21,259 shares of the company’s stock, valued at approximately $3,456,500.81. This represents a 3.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Scott M. Davies sold 615 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $180.00, for a total transaction of $110,700.00. Following the sale, the insider owned 20,953 shares of the company’s stock, valued at $3,771,540. This trade represents a 2.85% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,003,769 shares of company stock valued at $155,710,908. Insiders own 2.90% of the company’s stock.

Illumina Company Profile

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.