Illumina (NASDAQ:ILMN) Reaches New 1-Year High – Here’s What Happened

Shares of Illumina, Inc. (NASDAQ:ILMN) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $177.76 and last traded at $176.8650, with a volume of 705216 shares. The stock had previously closed at $164.93.

Analyst Ratings Changes

Several brokerages have recently commented on ILMN. Daiwa Securities Group upgraded Illumina from a “neutral” rating to an “outperform” rating and set a $155.00 price objective on the stock in a research report on Thursday, May 14th. Evercore reiterated an “outperform” rating on shares of Illumina in a research report on Friday, May 1st. Weiss Ratings raised Illumina from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 3rd. Canaccord Genuity Group lowered their price target on Illumina from $150.00 to $140.00 and set a “hold” rating on the stock in a report on Friday, May 1st. Finally, Barclays upped their price target on Illumina from $122.00 to $145.00 and gave the stock an “underweight” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $143.56.

Illumina Stock Performance

The firm’s 50 day simple moving average is $146.83 and its 200 day simple moving average is $136.71. The firm has a market cap of $26.60 billion, a PE ratio of 32.00, a PEG ratio of 3.02 and a beta of 1.50. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.56.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Thursday, April 30th. The life sciences company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.10. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.07 billion. Illumina had a return on equity of 31.01% and a net margin of 19.42%.The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 earnings per share. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, research analysts forecast that Illumina, Inc. will post 5.21 EPS for the current fiscal year.

Insider Transactions at Illumina

In related news, SVP Christensen Jakob Wedel sold 700 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $139.04, for a total value of $97,328.00. Following the sale, the senior vice president owned 15,056 shares in the company, valued at approximately $2,093,386.24. The trade was a 4.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Patricia Leckman sold 783 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $162.59, for a total transaction of $127,307.97. Following the sale, the senior vice president directly owned 21,259 shares in the company, valued at approximately $3,456,500.81. The trade was a 3.55% 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. Insiders sold a total of 1,003,154 shares of company stock valued at $155,600,208 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Illumina

Hedge funds have recently made changes to their positions in the business. Capital World Investors lifted its holdings in shares of Illumina by 20.0% in the 3rd quarter. Capital World Investors now owns 19,976,850 shares of the life sciences company’s stock valued at $1,897,178,000 after acquiring an additional 3,331,542 shares during the last quarter. WCM Investment Management LLC increased its stake in Illumina by 45.5% during the first quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company’s stock worth $715,579,000 after acquiring an additional 1,851,848 shares during the last quarter. Invesco Ltd. increased its stake in Illumina by 97.0% during the fourth quarter. Invesco Ltd. now owns 2,747,986 shares of the life sciences company’s stock worth $360,426,000 after acquiring an additional 1,352,731 shares during the last quarter. AQR Capital Management LLC raised its position in Illumina by 30.3% during the fourth quarter. AQR Capital Management LLC now owns 4,426,126 shares of the life sciences company’s stock valued at $580,531,000 after purchasing an additional 1,028,099 shares during the period. Finally, Morgan Stanley raised its position in Illumina by 66.0% during the fourth quarter. Morgan Stanley now owns 2,529,045 shares of the life sciences company’s stock valued at $331,710,000 after purchasing an additional 1,005,474 shares during the period. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

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.