Commerce Bank Acquires New Stake in Illumina, Inc. $ILMN

Commerce Bank purchased a new position in Illumina, Inc. (NASDAQ:ILMN) during the second quarter, Holdings Channel reports. The institutional investor purchased 8,959 shares of the life sciences company’s stock, valued at approximately $1,575,000.

Several other large investors also recently modified their holdings of the company. Empowered Funds LLC grew its position in shares of Illumina by 113.7% during the 1st quarter. Empowered Funds LLC now owns 9,284 shares of the life sciences company’s stock worth $737,000 after buying an additional 4,940 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Illumina during the 2nd quarter valued at $621,000. CW Advisors LLC acquired a new position in shares of Illumina during the 2nd quarter valued at $275,000. Marshall Wace LLP boosted its stake in Illumina by 49.0% during the second quarter. Marshall Wace LLP now owns 59,645 shares of the life sciences company’s stock worth $5,691,000 after acquiring an additional 19,618 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its stake in Illumina by 30.9% during the second quarter. Cresset Asset Management LLC now owns 7,404 shares of the life sciences company’s stock worth $706,000 after acquiring an additional 1,748 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Evercore reaffirmed an “outperform” rating on shares of Illumina in a research note on Monday, July 6th. JPMorgan Chase & Co. upped their target price on shares of Illumina from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Weiss Ratings upgraded Illumina from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 3rd. Wall Street Zen upgraded Illumina from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Illumina to a “hold” rating in a research report on Wednesday, August 5th. One 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, the stock currently has a consensus rating of “Hold” and an average target price of $188.40.

Insiders Place Their Bets

In other Illumina news, Director Keith A. Meister sold 299,336 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $217.96, for a total value of $65,243,274.56. Following the completion of the sale, the director owned 1,409,851 shares in the company, valued at approximately $307,291,123.96. This trade represents a 17.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 stock was sold at an average price of $191.52, for a total value of $197,840.16. Following the completion of the sale, the senior vice president owned 14,023 shares in the company, valued at approximately $2,685,684.96. This represents a 6.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 2,095,958 shares of company stock valued at $401,720,974 over the last three months. Company insiders own 2.90% of the company’s stock.

Illumina Stock Up 0.8%

Shares of NASDAQ ILMN opened at $224.99 on Wednesday. The firm’s fifty day moving average is $190.35 and its 200 day moving average is $153.78. Illumina, Inc. has a 52 week low of $88.00 and a 52 week high of $226.84. The company has a quick ratio of 1.40, a current ratio of 1.80 and a debt-to-equity ratio of 0.53. The company has a market cap of $33.97 billion, a price-to-earnings ratio of 41.98, a PEG ratio of 3.14 and a beta of 1.45.

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

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.