Balboa Wealth Partners Raises Stock Holdings in Illumina, Inc. $ILMN

Balboa Wealth Partners grew its stake in Illumina, Inc. (NASDAQ:ILMN) by 10.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,495 shares of the life sciences company’s stock after acquiring an additional 337 shares during the quarter. Balboa Wealth Partners’ holdings in Illumina were worth $333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Chicago Partners Investment Group LLC lifted its position in shares of Illumina by 85.6% in the second quarter. Chicago Partners Investment Group LLC now owns 5,200 shares of the life sciences company’s stock valued at $544,000 after acquiring an additional 2,398 shares in the last quarter. John G Ullman & Associates Inc. lifted its position in Illumina by 13.9% during the second quarter. John G Ullman & Associates Inc. now owns 4,100 shares of the life sciences company’s stock worth $391,000 after buying an additional 500 shares during the period. Carmel Capital Partners LLC lifted its position in Illumina by 37.0% during the second quarter. Carmel Capital Partners LLC now owns 3,908 shares of the life sciences company’s stock worth $373,000 after buying an additional 1,055 shares during the period. Sage Private Wealth Group LLC lifted its position in Illumina by 79.5% during the second quarter. Sage Private Wealth Group LLC now owns 6,649 shares of the life sciences company’s stock worth $634,000 after buying an additional 2,945 shares during the period. Finally, Nordea Investment Management AB lifted its position in Illumina by 14.2% during the second quarter. Nordea Investment Management AB now owns 13,138 shares of the life sciences company’s stock worth $1,265,000 after buying an additional 1,633 shares during the period. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ILMN. Weiss Ratings reiterated a “sell (d+)” rating on shares of Illumina in a research report on Wednesday, October 8th. Morgan Stanley increased their target price on Illumina from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Wall Street Zen downgraded Illumina from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Stephens set a $110.00 target price on Illumina and gave the stock an “overweight” rating in a research report on Monday, August 4th. Finally, Royal Bank Of Canada set a $124.00 target price on Illumina in a research report on Tuesday, September 2nd. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Illumina presently has a consensus rating of “Hold” and an average price target of $115.25.

Illumina Stock Performance

Illumina stock opened at $99.50 on Tuesday. The stock’s 50-day moving average is $98.22 and its 200-day moving average is $91.01. The company has a market cap of $15.29 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 2.31 and a beta of 1.40. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.81 and a quick ratio of 1.41. Illumina, Inc. has a 12 month low of $68.70 and a 12 month high of $156.66.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Thursday, July 31st. The life sciences company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.17. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.12 billion. Illumina had a return on equity of 28.93% and a net margin of 29.36%.The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. Equities analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current year.

About Illumina

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.