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

Bank of Nova Scotia acquired a new stake in shares of Illumina, Inc. (NASDAQ:ILMN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,326 shares of the life sciences company’s stock, valued at approximately $936,000.

A number of other hedge funds also recently bought and sold shares of ILMN. Elyxium Wealth LLC purchased a new stake in Illumina in the fourth quarter worth approximately $25,000. TD Waterhouse Canada Inc. bought a new position in Illumina during the fourth quarter valued at approximately $26,000. Laurel Wealth Advisors LLC purchased a new position in shares of Illumina during the fourth quarter worth approximately $26,000. Activest Wealth Management lifted its holdings in shares of Illumina by 671.9% in the 4th quarter. Activest Wealth Management now owns 247 shares of the life sciences company’s stock worth $32,000 after acquiring an additional 215 shares during the last quarter. Finally, Keating Financial Advisory Services Inc. bought a new stake in shares of Illumina in the 2nd quarter worth approximately $32,000. Institutional investors own 89.42% of the company’s stock.

Illumina Stock Down 0.1%

Shares of Illumina stock opened at $224.84 on Thursday. The company’s 50 day moving average price is $191.66 and its 200-day moving average price is $154.42. Illumina, Inc. has a 52-week low of $88.00 and a 52-week high of $227.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.80. The stock has a market capitalization of $33.95 billion, a price-to-earnings ratio of 41.95, a P/E/G ratio of 3.17 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. The business had revenue of $1.16 billion for 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 company’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.19 EPS. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. Equities research analysts forecast that Illumina, Inc. will post 5.36 EPS for the current year.

Insider Transactions at Illumina

In other news, Director Keith A. Meister sold 457,858 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $200.10, for a total value of $91,617,385.80. Following the completion of the transaction, the director owned 2,372,694 shares of the company’s stock, valued at approximately $474,776,069.40. This represents a 16.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Patricia Leckman sold 783 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $162.59, for a total value of $127,307.97. Following the completion of the transaction, the senior vice president owned 21,259 shares of the company’s stock, valued at approximately $3,456,500.81. This trade represents a 3.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,874,458 shares of company stock worth $367,996,424 over the last quarter. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

ILMN has been the subject of a number of research reports. Zacks Research raised shares of Illumina from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Illumina to a “hold” rating in a research note on Wednesday, August 5th. Daiwa Securities Group upgraded shares of Illumina from a “neutral” rating to an “outperform” rating and set a $155.00 price target for the company in a research report on Thursday, May 14th. Wall Street Zen raised Illumina from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Citigroup lifted their price objective on Illumina from $95.00 to $113.00 and gave the stock a “sell” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Illumina has a consensus rating of “Hold” and an average price target of $188.40.

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.