Parcion Private Wealth LLC Takes $371,000 Position in Illumina, Inc. $ILMN

Parcion Private Wealth LLC acquired a new stake in Illumina, Inc. (NASDAQ:ILMN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,886 shares of the life sciences company’s stock, valued at approximately $371,000.

A number of other hedge funds have also recently added to or reduced their stakes in ILMN. Wealth Enhancement Advisory Services LLC boosted its holdings in Illumina by 65.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 33,437 shares of the life sciences company’s stock worth $2,653,000 after buying an additional 13,240 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Illumina by 109.0% during the first quarter. Janney Montgomery Scott LLC now owns 18,200 shares of the life sciences company’s stock worth $1,444,000 after buying an additional 9,490 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Illumina by 2.5% during the first quarter. State of Alaska Department of Revenue now owns 18,527 shares of the life sciences company’s stock worth $1,469,000 after buying an additional 445 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in Illumina during the first quarter worth $863,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Illumina in the first quarter valued at about $368,000. 89.42% of the stock is owned by hedge funds and other institutional investors.

Illumina Price Performance

Shares of ILMN opened at $97.23 on Thursday. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66. The stock has a market cap of $14.94 billion, a PE ratio of 12.31, a P/E/G ratio of 2.44 and a beta of 1.40. The firm has a 50-day simple moving average of $98.17 and a two-hundred day simple moving average of $91.11. 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 (NASDAQ:ILMN) last announced its quarterly earnings results on Thursday, July 31st. The life sciences company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.17. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period last year, the business earned $0.36 earnings per share. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. As a group, analysts forecast that Illumina, Inc. will post 4.51 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Evercore ISI reduced their target price on shares of Illumina from $135.00 to $132.00 and set an “outperform” rating for the company in a research report on Tuesday, October 7th. Canaccord Genuity Group increased their target price on shares of Illumina from $99.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, August 1st. Citigroup cut shares of Illumina from a “hold” rating to a “strong sell” rating and reduced their target price for the company from $85.00 to $80.00 in a research report on Wednesday, July 9th. Stephens set a $110.00 target price on shares of Illumina and gave the company an “overweight” rating in a research report on Monday, August 4th. Finally, Daiwa Capital Markets cut shares of Illumina from an “outperform” rating to a “neutral” rating and set a $94.00 target price for the company. in a research report on Tuesday, August 12th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $115.25.

Illumina Profile

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.