Sei Investments Co. Grows Stake in Illumina, Inc. $ILMN

Sei Investments Co. raised its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 58.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,223 shares of the life sciences company’s stock after purchasing an additional 52,914 shares during the period. Sei Investments Co.’s holdings in Illumina were worth $17,778,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Impact Partnership Wealth LLC increased its position in Illumina by 235.8% during the 1st quarter. Impact Partnership Wealth LLC now owns 11,080 shares of the life sciences company’s stock valued at $1,366,000 after purchasing an additional 7,780 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Illumina in the 1st quarter valued at about $5,460,000. SG Americas Securities LLC lifted its position in shares of Illumina by 8.0% in the 1st quarter. SG Americas Securities LLC now owns 86,318 shares of the life sciences company’s stock worth $10,640,000 after purchasing an additional 6,425 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Illumina by 27.4% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 348,011 shares of the life sciences company’s stock worth $45,645,000 after purchasing an additional 74,900 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in shares of Illumina by 2.7% during the fourth quarter. New York State Teachers Retirement System now owns 149,638 shares of the life sciences company’s stock valued at $19,627,000 after purchasing an additional 4,002 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Scott M. Davies sold 615 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $180.00, for a total transaction of $110,700.00. Following the completion of the sale, the insider owned 20,953 shares in the company, valued at approximately $3,771,540. This represents a 2.85% decrease in their position. 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, Director Keith A. Meister sold 235,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $163.63, for a total value of $38,453,050.00. Following the completion of the sale, the director directly owned 2,830,452 shares of the company’s stock, valued at $463,146,860.76. The trade was a 7.67% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,003,769 shares of company stock worth $155,710,908. 2.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ILMN has been the subject of a number of recent research reports. Sanford C. Bernstein initiated coverage on shares of Illumina in a research note on Friday, June 26th. They issued a “market perform” rating and a $185.00 price objective for the company. Guggenheim increased their target price on Illumina from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Piper Sandler lifted their price target on Illumina from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Evercore reissued an “outperform” rating on shares of Illumina in a research report on Monday, July 6th. Finally, Royal Bank Of Canada assumed coverage on Illumina in a research note on Thursday, May 14th. They set an “outperform” rating and a $170.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $156.88.

Illumina Trading Up 1.0%

NASDAQ:ILMN opened at $194.82 on Thursday. Illumina, Inc. has a 52 week low of $88.00 and a 52 week high of $199.14. The firm has a 50 day moving average of $174.28 and a 200 day moving average of $146.38. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $29.48 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 2.85 and a beta of 1.47.

Illumina (NASDAQ:ILMN) last announced its earnings results on Thursday, April 30th. The life sciences company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.10. Illumina had a net margin of 19.42% and a return on equity of 31.01%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm earned $0.97 earnings per share. Illumina’s revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Illumina, Inc. will post 5.22 earnings per share 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.