Illumina (NASDAQ:ILMN) Sets New 12-Month High – Here’s Why

Illumina, Inc. (NASDAQ:ILMN)’s stock price hit a new 52-week high during trading on Tuesday. The stock traded as high as $278.99 and last traded at $273.1990, with a volume of 227282 shares trading hands. The stock had previously closed at $271.90.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Royal Bank Of Canada raised their target price on shares of Illumina from $170.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Zacks Research downgraded shares of Illumina from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 1st. Wall Street Zen upgraded Illumina from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. UBS Group raised Illumina from a “neutral” rating to a “buy” rating and raised their price objective for the company from $135.00 to $260.00 in a report on Wednesday, September 9th. Finally, TD Cowen boosted their price objective on Illumina from $192.00 to $210.00 and gave the stock a “hold” rating in a research report on Friday, July 31st. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $204.12.

Illumina Trading Down 1.1%

The business’s fifty day moving average is $213.17 and its 200-day moving average is $171.66. 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 firm has a market cap of $40.60 billion, a P/E ratio of 50.33, a price-to-earnings-growth ratio of 3.83 and a beta of 1.46.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, July 30th. The life sciences company reported $1.31 earnings per share 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 firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the firm posted $1.19 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. Analysts predict that Illumina, Inc. will post 5.36 EPS for the current year.

Insider Buying and Selling at Illumina

In related news, Director Keith A. Meister sold 119,501 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $218.40, for a total transaction of $26,099,018.40. Following the completion of the transaction, the director directly owned 770,350 shares of the company’s stock, valued at $168,244,440. This trade represents a 13.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Christensen Wedel sold 1,033 shares of Illumina stock in a transaction dated Tuesday, August 18th. The stock was 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 $2,685,684.96. The trade was a 6.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 2,061,850 shares of company stock worth $436,479,102. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Illumina

A number of hedge funds have recently made changes to their positions in the stock. Fiduciary Financial Advisors bought a new stake in Illumina in the second quarter valued at approximately $26,000. MCF Advisors LLC raised its holdings in Illumina by 172.4% during the 2nd quarter. MCF Advisors LLC now owns 158 shares of the life sciences company’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Keating Financial Advisory Services Inc. bought a new position in Illumina during the 2nd quarter worth approximately $32,000. Rakuten Securities Inc. acquired a new position in shares of Illumina in the 2nd quarter worth approximately $33,000. Finally, Elevation Wealth Partners LLC boosted its stake in shares of Illumina by 52.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 244 shares of the life sciences company’s stock valued at $43,000 after purchasing an additional 84 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors.

Illumina Company Profile

Illumina, Inc develops and manufactures technologies used to analyze genetic variation and biological function. Its products are primarily based on next-generation sequencing, a method that enables researchers and clinicians to read DNA and RNA for applications including genomic research, disease studies, drug development and clinical testing.

The company offers sequencing instruments, consumables such as reagent kits and flow cells, and related software and informatics solutions. Illumina also provides services and support designed to help customers prepare samples, run sequencing workflows, interpret genomic data and integrate results into research or clinical operations.

Founded in 1998 and headquartered in San Diego, California, Illumina serves customers worldwide, including academic and government research institutions, pharmaceutical and biotechnology companies, hospitals, clinical laboratories and other healthcare organizations.