The Manufacturers Life Insurance Company Buys Shares of 116,132 Illumina, Inc. $ILMN

The Manufacturers Life Insurance Company purchased a new stake in shares of Illumina, Inc. (NASDAQ:ILMN) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 116,132 shares of the life sciences company’s stock, valued at approximately $20,419,000.

A number of other hedge funds have also modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Illumina during the 2nd quarter worth about $3,374,423,000. Plato Investment Management Ltd bought a new stake in shares of Illumina in the 2nd quarter valued at approximately $948,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Illumina in the 2nd quarter valued at approximately $30,501,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Illumina in the 2nd quarter valued at approximately $129,792,000. Finally, Impact Partnership Wealth LLC increased its holdings in Illumina by 235.8% in the first quarter. Impact Partnership Wealth LLC now owns 11,080 shares of the life sciences company’s stock worth $1,366,000 after buying an additional 7,780 shares during the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Illumina from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Leerink Partners boosted their target price on shares of Illumina from $175.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Sanford C. Bernstein restated a “market perform” rating and set a $215.00 price target on shares of Illumina in a report on Friday, July 31st. Daiwa Securities Group upgraded shares of Illumina from a “neutral” rating to an “outperform” rating and set a $155.00 price target on the stock in a report on Thursday, May 14th. Finally, Royal Bank Of Canada lifted their price objective on shares of Illumina from $170.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $188.40.

Illumina Stock Up 1.3%

Shares of ILMN stock opened at $227.69 on Friday. The stock’s 50 day simple moving average is $192.98 and its 200 day simple moving average is $155.18. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.80. Illumina, Inc. has a twelve month low of $88.00 and a twelve month high of $231.81. The company has a market capitalization of $34.38 billion, a price-to-earnings ratio of 42.48, a PEG ratio of 3.16 and a beta of 1.45.

Illumina (NASDAQ:ILMN) last announced its 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 firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Illumina had a return on equity of 29.84% and a net margin of 18.36%.The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. As a group, research analysts predict that Illumina, Inc. will post 5.36 EPS for the current year.

Insider Buying and Selling

In related news, SVP Christensen Jakob Wedel sold 1,033 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $191.52, for a total value of $197,840.16. Following the transaction, the senior vice president directly owned 14,023 shares in the company, valued at approximately $2,685,684.96. This trade represents a 6.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith A. Meister sold 457,858 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $200.10, for a total transaction of $91,617,385.80. Following the completion of the transaction, the director owned 2,372,694 shares in the company, valued at $474,776,069.40. The trade was a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,034,688 shares of company stock worth $417,970,281. Insiders own 2.90% of the company’s stock.

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.