Elevation Point Wealth Partners LLC Purchases New Holdings in Illumina, Inc. $ILMN

Elevation Point Wealth Partners LLC purchased a new stake in Illumina, Inc. (NASDAQ:ILMN) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 3,638 shares of the life sciences company’s stock, valued at approximately $640,000.

Several other institutional investors also recently modified their holdings of the company. Capital World Investors boosted its stake in Illumina by 0.6% during the fourth quarter. Capital World Investors now owns 20,101,173 shares of the life sciences company’s stock worth $2,636,483,000 after buying an additional 124,323 shares in the last quarter. BlackRock Inc. bought a new position in shares of Illumina in the second quarter valued at approximately $3,374,423,000. State Street Corp grew its holdings in shares of Illumina by 3.2% during the fourth quarter. State Street Corp now owns 6,190,114 shares of the life sciences company’s stock worth $811,895,000 after purchasing an additional 190,324 shares during the last quarter. WCM Investment Management LLC raised its stake in shares of Illumina by 45.5% in 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. Finally, AQR Capital Management LLC lifted its holdings in Illumina by 30.3% during 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 in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Insider Transactions at Illumina

In related news, CAO Scott D. Ericksen sold 1,500 shares of Illumina stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $150.10, for a total transaction of $225,150.00. Following the sale, the chief accounting officer directly owned 14,946 shares in the company, valued at $2,243,394.60. This trade represents a 9.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christensen Jakob Wedel sold 1,033 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $191.52, for a total transaction of $197,840.16. Following the completion of the transaction, the senior vice president owned 14,023 shares of the company’s stock, valued at approximately $2,685,684.96. This trade represents a 6.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 2,095,958 shares of company stock worth $401,720,974. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. TD Cowen lifted their price objective on Illumina from $192.00 to $210.00 and gave the stock a “hold” rating in a research note on Friday, July 31st. Stifel Nicolaus increased their target price on Illumina from $155.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Guggenheim raised their target price on shares of Illumina from $200.00 to $226.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Leerink Partners boosted their price target on Illumina from $175.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. boosted their price target on Illumina from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $188.40.

Illumina Stock Performance

Shares of NASDAQ:ILMN opened at $223.22 on Tuesday. The company’s 50 day simple moving average is $189.13 and its 200 day simple moving average is $153.14. The stock has a market capitalization of $33.71 billion, a price-to-earnings ratio of 41.65, a price-to-earnings-growth ratio of 3.09 and a beta of 1.44. Illumina, Inc. has a 1 year low of $88.00 and a 1 year high of $223.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.80 and a quick ratio of 1.40.

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

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.