During the third quarter, iA Global Asset Management Inc. made a significant move by acquiring a new stake in Illumina, Inc. (NASDAQ: ILMN). According to its latest Form 13F filing with the Securities and Exchange Commission (SEC), the fund purchased 12,393 shares of Illumina’s stock, valued at approximately $1,177,000. This acquisition highlights growing interest in the life sciences sector among institutional investors.
Several other institutional investors have also adjusted their positions in Illumina recently. Notably, Parkside Financial Bank & Trust increased its stake in the company by 65.7% during the second quarter, now holding 290 shares valued at around $28,000 after acquiring an additional 115 shares. Quent Capital LLC entered the scene with a new position in Illumina valued at $29,000 during the third quarter. Additionally, Cullen Frost Bankers Inc. purchased shares worth approximately $41,000 earlier in the second quarter.
NewSquare Capital LLC experienced a remarkable increase, raising its position in Illumina by 604.9% during the second quarter, now owning 430 shares valued at $41,000. Mather Group LLC also acquired a new stake in Illumina during the third quarter, valued at about $46,000. Collectively, institutional investors and hedge funds own 89.42% of the company’s stock.
Recent Insider Activity
In related news, Illumina’s Director Scott Gottlieb purchased 500 shares on November 3, 2023, at an average price of $122.13 per share, totaling $61,065. Following this acquisition, Gottlieb now owns 12,523 shares in the company, valued at approximately $1,529,433.99, marking a 4.16% increase in his ownership. This transaction was disclosed in a filing with the SEC.
Moreover, insider Scott M. Davies sold 323 shares on December 12, 2023, at an average price of $136.09, resulting in a transaction valued at $43,957.07. Post-transaction, Davies directly owns 17,887 shares in Illumina, with a total value of $2,434,241.83. This sale represents a 1.77% decrease in his ownership stake. Company insiders own 2.60% of the stock.
Illumina’s Stock Performance
As of Friday, Illumina’s shares opened at $150.28. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.43, and a quick ratio of 1.12. Over the past year, Illumina’s stock has seen a low of $68.70 and a high of $155.53. With a market capitalization of $22.96 billion, the company reports a price-to-earnings (P/E) ratio of 33.70 and a P/E/G ratio of 2.50.
Illumina recently shared its quarterly earnings data on October 30, 2023. The company reported earnings of $1.34 per share, surpassing analysts’ expectations of $1.16 by $0.18. Illumina achieved a return on equity of 29.21% and a net margin of 16.40%. The company recorded a revenue of $1.08 billion for the quarter, exceeding the analyst estimates of $1.07 billion. This represents a 0.4% year-over-year increase in revenue.
Looking ahead, Illumina has set its fiscal year 2025 guidance at $4.650 to $4.750 per share. Analysts predict that Illumina will post $4.51 earnings per share for the current fiscal year. Founded in 1998 and headquartered in San Diego, California, Illumina specializes in developing and marketing integrated systems for genetic analysis, supporting researchers across various sectors, including academia and agriculture.
