Spyglass Capital Management LLC Sells 276,415 Shares of Illumina, Inc. $ILMN

Spyglass Capital Management LLC reduced its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 39.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 422,150 shares of the life sciences company’s stock after selling 276,415 shares during the period. Illumina comprises about 2.1% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding. Spyglass Capital Management LLC’s holdings in Illumina were worth $40,092,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. lifted its holdings in shares of Illumina by 10.2% in the 3rd quarter. Assetmark Inc. now owns 1,039 shares of the life sciences company’s stock worth $99,000 after buying an additional 96 shares during the period. Versant Capital Management Inc grew its position in shares of Illumina by 8.9% during the 3rd quarter. Versant Capital Management Inc now owns 1,364 shares of the life sciences company’s stock worth $130,000 after buying an additional 111 shares in the last quarter. Archer Investment Corp increased its stake in shares of Illumina by 12.9% during the third quarter. Archer Investment Corp now owns 1,073 shares of the life sciences company’s stock valued at $102,000 after buying an additional 123 shares during the period. Callan Family Office LLC raised its holdings in shares of Illumina by 4.4% in the third quarter. Callan Family Office LLC now owns 2,939 shares of the life sciences company’s stock valued at $279,000 after acquiring an additional 124 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Illumina by 4.7% in the third quarter. Parallel Advisors LLC now owns 2,834 shares of the life sciences company’s stock valued at $269,000 after acquiring an additional 128 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ILMN. Evercore set a $150.00 target price on shares of Illumina in a report on Friday, February 6th. Guggenheim boosted their price target on shares of Illumina from $144.00 to $170.00 and gave the company a “buy” rating in a report on Monday, January 26th. Piper Sandler lowered their price target on shares of Illumina from $195.00 to $170.00 and set an “overweight” rating for the company in a research report on Monday, February 9th. Canaccord Genuity Group increased their price objective on shares of Illumina from $130.00 to $150.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Illumina from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $129.69.

Insider Buying and Selling at Illumina

In other news, SVP Patricia Leckman sold 2,370 shares of Illumina stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $116.18, for a total value of $275,346.60. Following the transaction, the senior vice president owned 16,321 shares of the company’s stock, valued at $1,896,173.78. The trade was a 12.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Illumina Trading Up 2.9%

Shares of NASDAQ ILMN opened at $118.94 on Friday. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $155.53. The business has a fifty day moving average price of $133.15 and a 200 day moving average price of $119.81. The stock has a market capitalization of $18.19 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 2.21 and a beta of 1.45. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.08 and a quick ratio of 1.72.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, February 5th. The life sciences company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.09. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.10 billion. Illumina had a return on equity of 31.04% and a net margin of 19.57%.The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Illumina has set its FY 2026 guidance at 5.050-5.200 EPS. Equities research analysts expect that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

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.