Industrial Alliance Investment Management Inc. Has $3.60 Million Stock Holdings in Illumina, Inc. (NASDAQ:ILMN)

Posted by Defense World Staff on Mar 16th, 2023

Industrial Alliance Investment Management Inc. raised its stake in shares of Illumina, Inc. (NASDAQ:ILMN – Get Rating) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,853 shares of the life sciences company’s stock after purchasing an additional 381 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Illumina were worth $3,597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ILMN. Polen Capital Management LLC grew its holdings in Illumina by 62.0% during the third quarter. Polen Capital Management LLC now owns 4,521,397 shares of the life sciences company’s stock valued at $862,637,000 after purchasing an additional 1,731,169 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Illumina by 74.4% during the third quarter. Alliancebernstein L.P. now owns 1,574,461 shares of the life sciences company’s stock valued at $300,391,000 after purchasing an additional 671,462 shares during the last quarter. Pictet Asset Management SA grew its holdings in Illumina by 188.8% during the third quarter. Pictet Asset Management SA now owns 507,090 shares of the life sciences company’s stock valued at $96,748,000 after purchasing an additional 331,515 shares during the last quarter. Senator Investment Group LP acquired a new position in Illumina during the third quarter valued at approximately $47,698,000. Finally, Federated Hermes Inc. grew its holdings in Illumina by 240.0% during the first quarter. Federated Hermes Inc. now owns 258,226 shares of the life sciences company’s stock valued at $90,225,000 after purchasing an additional 182,272 shares during the last quarter. Institutional investors and hedge funds own 87.97% of the company’s stock.

Illumina Stock Up 1.0 %

Shares of NASDAQ ILMN opened at $228.15 on Thursday. The stock has a market cap of $36.05 billion, a PE ratio of -8.15, a PEG ratio of 7.07 and a beta of 1.15. The business has a fifty day moving average of $207.93 and a two-hundred day moving average of $208.49. Illumina, Inc. has a 52-week low of $173.45 and a 52-week high of $371.16. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.08 and a current ratio of 1.28.

Illumina (NASDAQ:ILMN – Get Rating) last issued its quarterly earnings data on Tuesday, February 7th. The life sciences company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.11). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. Illumina had a negative net margin of 96.12% and a positive return on equity of 3.79%. The firm’s revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 earnings per share. As a group, equities research analysts expect that Illumina, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Illumina

In related news, SVP Aimee L. Hoyt sold 871 shares of Illumina stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $205.57, for a total value of $179,051.47. Following the completion of the transaction, the senior vice president now directly owns 2,796 shares of the company’s stock, valued at $574,773.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Susan H. Tousi sold 500 shares of Illumina stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $211.57, for a total value of $105,785.00. Following the completion of the transaction, the senior vice president now directly owns 38,276 shares of the company’s stock, valued at $8,098,053.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Aimee L. Hoyt sold 871 shares of Illumina stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $205.57, for a total value of $179,051.47. Following the completion of the transaction, the senior vice president now directly owns 2,796 shares of the company’s stock, valued at $574,773.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,186 shares of company stock valued at $2,255,837. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. OTR Global upgraded shares of Illumina from a “mixed” rating to a “positive” rating in a research note on Tuesday, December 20th. Bank of America raised their price objective on shares of Illumina from $210.00 to $230.00 in a research note on Wednesday, February 8th. Piper Sandler restated an “overweight” rating and issued a $290.00 price objective on shares of Illumina in a research note on Wednesday, February 8th. UBS Group lowered their price objective on shares of Illumina from $255.00 to $240.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 14th. Finally, Canaccord Genuity Group lowered their price objective on shares of Illumina from $330.00 to $300.00 and set a “buy” rating on the stock in a research note on Tuesday, January 17th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $249.40.

Illumina Company Profile

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Illumina, Inc engages in the development, manufacturing, and marketing of life science tools and integrated systems for large-scale analysis of genetic variation and function. It operates through the Core Illumina segment, which serves customers in the research, clinical and applied markets fields, and enables the adoption of a variety of genomic solutions.