Allstate Corp Raises Stock Holdings in Illumina, Inc. $ILMN

Allstate Corp increased its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 96.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,170 shares of the life sciences company’s stock after purchasing an additional 5,492 shares during the quarter. Allstate Corp’s holdings in Illumina were worth $1,465,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ILMN. JPMorgan Chase & Co. increased its position in Illumina by 17.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,690 shares of the life sciences company’s stock valued at $79,081,000 after buying an additional 124,246 shares in the last quarter. Elo Mutual Pension Insurance Co acquired a new position in Illumina during the 3rd quarter valued at about $2,319,000. Caprock Group LLC acquired a new position in Illumina during the 3rd quarter valued at about $1,479,000. Capital World Investors increased its position in Illumina by 20.0% during the 3rd quarter. Capital World Investors now owns 19,976,850 shares of the life sciences company’s stock valued at $1,897,178,000 after buying an additional 3,331,542 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Illumina by 2,792.2% during the 4th quarter. Nordea Investment Management AB now owns 944,500 shares of the life sciences company’s stock valued at $124,145,000 after buying an additional 911,843 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ILMN shares. Robert W. Baird set a $137.00 target price on Illumina in a research report on Friday, February 6th. Citigroup increased their price objective on Illumina from $80.00 to $95.00 and gave the company a “sell” rating in a report on Monday, May 4th. Piper Sandler cut their price objective on Illumina from $195.00 to $170.00 and set an “overweight” rating on the stock in a report on Monday, February 9th. Canaccord Genuity Group cut their price objective on Illumina from $150.00 to $140.00 and set a “hold” rating on the stock in a report on Friday, May 1st. Finally, Royal Bank Of Canada assumed coverage on Illumina in a research note on Thursday, May 14th. They issued an “outperform” rating and a $170.00 target price on the stock. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Illumina presently has a consensus rating of “Hold” and a consensus target price of $137.75.

Illumina Stock Performance

Shares of Illumina stock opened at $162.96 on Friday. The business’s 50 day moving average price is $133.73 and its 200 day moving average price is $132.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.36 and a current ratio of 1.75. The company has a market cap of $24.66 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.63 and a beta of 1.42. Illumina, Inc. has a one year low of $78.79 and a one year high of $165.37.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, April 30th. The life sciences company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.10. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Illumina had a return on equity of 31.01% and a net margin of 19.42%.The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 earnings per share. Illumina has set its FY 2026 guidance at 5.150-5.300 EPS. On average, research analysts predict that Illumina, Inc. will post 5.2 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Christensen Jakob Wedel sold 700 shares of Illumina stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $139.04, for a total value of $97,328.00. Following the completion of the transaction, the senior vice president directly owned 15,056 shares in the company, valued at approximately $2,093,386.24. This trade represents a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith A. Meister sold 104,393 shares of Illumina stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $145.34, for a total value of $15,172,478.62. Following the completion of the transaction, the director owned 3,500,048 shares of the company’s stock, valued at approximately $508,696,976.32. This trade represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 330,160 shares of company stock valued at $48,028,308 over the last ninety days. Insiders own 2.90% of the company’s stock.

Illumina Company Profile

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.