Bank of Nova Scotia Invests $936,000 in Illumina, Inc. $ILMN

Bank of Nova Scotia purchased a new position in Illumina, Inc. (NASDAQ:ILMN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,326 shares of the life sciences company’s stock, valued at approximately $936,000.

Several other institutional investors have also bought and sold shares of the company. Keating Financial Advisory Services Inc. purchased a new stake in Illumina in the 2nd quarter worth about $32,000. Rakuten Securities Inc. bought a new stake in Illumina in the 2nd quarter valued at about $33,000. Elyxium Wealth LLC purchased a new stake in Illumina during the fourth quarter valued at about $25,000. TD Waterhouse Canada Inc. purchased a new stake in Illumina during the fourth quarter valued at about $26,000. Finally, Laurel Wealth Advisors LLC bought a new position in Illumina during the fourth quarter worth about $26,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group lifted their target price on shares of Illumina from $190.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Evercore reaffirmed an “outperform” rating on shares of Illumina in a report on Monday, July 6th. Daiwa Securities Group upgraded shares of Illumina from a “neutral” rating to an “outperform” rating and set a $155.00 price objective for the company in a research note on Thursday, May 14th. Zacks Research upgraded shares of Illumina from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Finally, Stifel Nicolaus boosted their target price on shares of Illumina from $155.00 to $225.00 and gave the company a “buy” rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Illumina currently has an average rating of “Hold” and an average price target of $188.40.

Illumina Stock Performance

Illumina stock opened at $224.84 on Thursday. Illumina, Inc. has a 1-year low of $88.00 and a 1-year high of $227.70. 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 market capitalization of $33.95 billion, a PE ratio of 41.95, a price-to-earnings-growth ratio of 3.17 and a beta of 1.45. The firm’s 50 day simple moving average is $191.66 and its 200 day simple moving average is $154.42.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.13 billion. Illumina had a net margin of 18.36% and a return on equity of 29.84%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.19 EPS. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. As a group, analysts expect that Illumina, Inc. will post 5.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Keith A. Meister sold 457,858 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $200.10, for a total value of $91,617,385.80. Following the sale, the director directly owned 2,372,694 shares of the company’s stock, valued at $474,776,069.40. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Christensen Jakob Wedel sold 1,033 shares of Illumina 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 sale, the senior vice president owned 14,023 shares of the company’s stock, valued at approximately $2,685,684.96. The trade was 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. Insiders sold a total of 1,874,458 shares of company stock worth $367,996,424 over the last three months. Company insiders own 2.90% of the company’s stock.

Illumina 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.