Illumina, Inc. (NASDAQ:ILMN), a leading life sciences company, has seen a decrease in its shares owned by RTW Investments LP during the first quarter of this year. According to the 13F filing with the Securities & Exchange Commission, RTW Investments LP lessened its position in Illumina by 33.3%. The fund now owns 376,250 shares of the company’s stock after selling 188,125 shares.
With this reduction, Illumina now constitutes only 1.8% of RTW Investments LP’s portfolio, being its 23rd largest position. At the end of the most recent quarter, Illumina’s shares owned by RTW Investments LP were valued at $87,497,000.
Illumina recently announced its quarterly earnings results on August 9th. The report revealed that the company exceeded expectations with an earnings per share (EPS) of $0.32 for the quarter compared to the consensus estimate of $0.02 EPS. This positive result demonstrates an increase of $0.30 per share and highlights the financial success for Illumina during this period.
Looking at their return on equity (ROE), Illumina achieved a respectable figure of 1.97%. However, their net margin was negatively impacted, standing at -93.86%. Despite this setback, they reported revenue amounting to $1.18 billion for the quarter which surpassed analysts’ expectations of $1.16 billion.
The revenue growth rate for Illumina remains steady with a modest increase of 1.2% when compared to the same period last year. These encouraging figures bode well for future profitability as they demonstrate consistent progress within a competitive market.
Industry experts predict that Illumina will achieve earnings per share amounting to $0.83 for the current fiscal year based upon analysts’ estimates and previous performance metrics.
In other news, SVP Susan H. Tousi sold 500 shares of Illumina stock on June 22nd. The transaction took place at an average price of $200.00 per share, totaling $100,000 in value. After this sale, the senior vice president now holds 46,522 shares in the company, amounting to approximately $9,304,400.
It should be noted that this transaction was conducted legally and disclosed by Illumina in a filing with the SEC. Interested parties can access this information through the SEC website.
Over the past three months, insiders at Illumina have collectively sold 1,500 shares of the company’s stock, resulting in a total worth of $278,560. This accounts for only 0.13% of the stock owned by company insiders.
In conclusion, RTW Investments LP has reduced its holding in Illumina during the first quarter of this year. Despite this decrease, Illumina surpassed earnings expectations and reported substantial revenue growth for the last quarter. With insider selling occurring during this period as well, investors will closely monitor upcoming developments within Illumina to gauge its long-term prospects.
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Institutional Investors Show Growing Interest in Illumina Inc. as Market Performance Analysis and Analyst Opinions Provide Insights
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”MO” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Illumina, Inc., a leading life sciences company, has recently seen significant activity from various large investors. CenterBook Partners LP, for instance, has increased its holdings in Illumina by an astonishing 336.0% during the first quarter of this year. The firm now owns 22,123 shares of Illumina’s stock, amounting to a value of $5,145,000 after acquiring an additional 17,049 shares over the last quarter.
Similarly, Macquarie Group Ltd. has also lifted its holdings in shares of Illumina by 0.6% during the same period. The firm currently possesses 107,836 shares of the company’s stock with an estimated worth of $25,077,000 after purchasing an additional 620 shares during the last quarter.
Additionally, Mirova has entered the scene as a new stakeholder and now holds a stake in Illumina valued at approximately $175,000. Furthermore, Veritable L.P., having increased its holdings in shares of Illumina by 4.1%, owns 9,053 shares which are worth an estimated $2,105,000 after adding an additional 353 shares over the last quarter.
Even Prospera Financial Services Inc has decided to join these prominent institutional investors as it lifted its holdings in Illumina by an impressive 22.8%. Currently possessing 2,318 shares of the life sciences company’s stock valued at $539,000 following the acquisition of an additional 430 shares during the last quarter.
Taking into account all these recent investments made by institutional shareholders into Illumina Inc., it is clear that there is considerable interest in the company within the investment community.
Moving on to market performance analysis for Illumina stock on September 10th,the share price traded down slightly at $158.36 during mid-day trading while garnering a total trading volume of 1,552,224 shares exchanged hands, relatively higher than its average volume of 1,285,987 shares.
Over the past year, the stock’s price has ranged from a low of $156.14 to a high of $248.87. As of September 10th, the company boasts a market capitalization of $25.07 billion, and it currently maintains a price-to-earnings (P/E) ratio of -5.95 along with a price-to-earnings-growth (PEG) ratio of 8.58. Furthermore, Illumina exhibits a beta value of 1.12.
The company’s short-term performance can be analyzed by looking at its simple moving averages. Currently, the 50-day simple moving average for Illumina stands at $178.04 while the 200-day simple moving average rests at $198.77.
As for analyst opinions on the stock’s future prospects and potential returns, several reports have been issued recently providing valuable insights. For instance, Robert W. Baird lowered their price target on Illumina from $229.00 to $180.00 in a report dated August 10th this year.
Evercore ISI has reaffirmed an “outperform” rating and assigned a price target of $240 on shares of Illumina in another report released on September 1st by the same financial institution.
On the other hand, UBS Group cut their price target on Illumina from $240 to $230 while giving it a “neutral” rating in their report released on August 8th.
Citigroup further decreased their price target for Illumina from $180 to $150 and rated the stock as “sell” in their report dated August 10th.
Lastly, Stifel Nicolaus also reduced its price target on Illumina from $265 to $225 but maintained a “buy” rating in their report issued on August 10th.
Based on Bloomberg data , as of now, the stock has a consensus rating of “Hold” from analysts. Moreover, the average target price for Illumina’s stock is estimated to be around $236.05.
In conclusion, these recent investments by various institutional investors in Illumina Inc. are indicative of the company’s attractiveness and growth potential in the life sciences industry. As such, it will be interesting to observe how these developments translate into future performance for Illumina and whether the market reaches a consensus on its investment value in the near future.
