Published on 28 Feb 2024 on Insider Monkey via Yahoo Finance
Reasons for the Decline of Illumina (ILMN)
Baron Funds, an investment management company, released its “Baron Opportunity Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund rose 15.10% (Institutional Shares), outperformed the Russell 3000 Growth Index, which gained 14.09%, and the S&P 500 Index, which advanced 11.69%. The fund saw a significant increase of almost 50% for the entire year, which was substantially higher than both indexes. It was a strong recovery after a challenging 2022. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Opportunity Fund featured stocks like Illumina, Inc. (NASDAQ:ILMN) in the fourth quarter 2023 investor letter. Headquartered in San Diego, California, Illumina, Inc. (NASDAQ:ILMN) offers life science tools and integrated systems for for genetic and genomic analysis. On February 27, 2024, Illumina, Inc. (NASDAQ:ILMN) stock closed at $139.76 per share. One-month return of Illumina, Inc. (NASDAQ:ILMN) was -2.27%, and its shares lost 29.61% of their value over the last 52 weeks. Illumina, Inc. (NASDAQ:ILMN) has a market capitalization of $22.208 billion.
Baron Opportunity Fund stated the following regarding Illumina, Inc. (NASDAQ:ILMN) in its fourth quarter 2023 investor letter: