Point72 Asia Singapore Pte. Ltd., a prominent institutional investor, has significantly increased its holdings in Illumina, Inc. (NASDAQ: ILMN) in the second quarter. According to the company’s recent Form 13F filing with the SEC, Point72 Asia Singapore Pte. Ltd. now owns 23,235 shares of the life sciences company’s stock, representing a 523.8% growth from the previous quarter. The institutional investor purchased an additional 19,510 shares, bringing their total investment in Illumina to $2,425,000 by the end of the reporting period.
Other institutional investors have also made adjustments to their positions in Illumina. Bouvel Investment Partners LLC raised its stake by 1.3% during the first quarter, now owning 6,547 shares worth $899,000. UMB Bank n.a. increased its position by 7.0% in the second quarter, holding 1,341 shares valued at $140,000. Gulf International Bank UK Ltd. raised its stake by 0.7% in the first quarter, now owning 13,562 shares worth $1,862,000. GAMMA Investing LLC boosted its holdings by 4.9% in the first quarter, owning 2,258 shares valued at $310,000. Texas Permanent School Fund Corp also grew its position by 0.3% in the first quarter, now holding 32,818 shares worth $4,507,000. Overall, institutional investors own 89.42% of Illumina’s stock.
Shares of Illumina traded down to $126.15 on Wednesday, with 1,021,567 shares exchanged compared to the average volume of 2,030,165 shares. The company has a current ratio of 1.11, a quick ratio of 0.86, and a debt-to-equity ratio of 1.04. Illumina has a market capitalization of $20.10 billion, a price-to-earnings ratio of -15.48, and a beta of 1.15. The stock has a fifty-day moving average price of $125.59 and a 200-day moving average price of $120.38. Illumina’s 1-year low is $89.00, and the 1-year high is $148.19.
In its latest quarterly earnings report on August 6th, Illumina reported earnings per share of $0.36, surpassing analysts’ consensus estimates by $0.24. The company achieved a positive return on equity of 3.08% and a negative net margin of 68.73%. Illumina generated revenue of $1.11 billion for the quarter, exceeding the consensus estimate of $1.09 billion. Compared to the same quarter the previous year, the company’s revenue was down 5.4%. Analysts predict Illumina will post 3.63 EPS for the current fiscal year.
Several equities analysts have shared their insights on Illumina’s performance. Stephens reiterated an “overweight” rating with a $170.00 target price on Illumina shares. Daiwa America upgraded Illumina to a “strong-buy” rating. UBS Group raised its price target from $131.00 to $133.00, maintaining a “neutral” rating. Evercore ISI reduced its price target from $195.00 to $175.00, maintaining an “outperform” rating. Jefferies Financial Group initiated coverage on Illumina with a “hold” rating and a $115.00 target price. The consensus rating for Illumina is currently “Moderate Buy” with an average target price of $151.05.
Illumina, Inc. offers sequencing- and array-based solutions for genetic and genomic analysis worldwide. The company operates through Core Illumina and GRAIL segments, providing sequencing and array-based instruments and consumables, whole-genome sequencing kits, targeted resequencing kits, and more.
In conclusion, institutional investors like Point72 Asia Singapore Pte. Ltd. have shown confidence in Illumina’s growth potential, with significant increases in their holdings. Analysts continue to monitor and evaluate Illumina’s performance, providing valuable insights for investors considering the stock. As Illumina continues to innovate in the life sciences industry, its position in the market remains strong, attracting both institutional and individual investors alike.
