Partnership Wealth Management LLC Increases Position in Illumina, Inc. (NASDAQ:ILMN)

Partnership Wealth Management LLC lifted its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 17.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,095 shares of the life sciences company’s stock after purchasing an additional 1,175 shares during the period. Partnership Wealth Management LLC’s holdings in Illumina were worth $1,082,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Primecap Management Co. CA lifted its holdings in Illumina by 462.5% during the 2nd quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock worth $253,514,000 after buying an additional 1,997,010 shares during the last quarter. Millennium Management LLC raised its position in shares of Illumina by 305.0% during the 2nd quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock worth $155,067,000 after acquiring an additional 1,118,747 shares in the last quarter. Marshall Wace LLP purchased a new stake in Illumina during the second quarter worth approximately $77,628,000. Massachusetts Financial Services Co. MA boosted its holdings in Illumina by 148.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,056,172 shares of the life sciences company’s stock valued at $137,735,000 after purchasing an additional 631,294 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Illumina by 40.5% in the third quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company’s stock valued at $282,735,000 after purchasing an additional 625,245 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley restated an “equal weight” rating and set a $156.00 price objective on shares of Illumina in a research report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price objective on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. HSBC raised Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Thursday, October 17th. TD Cowen boosted their target price on Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Canaccord Genuity Group raised their price target on Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $165.95.

Illumina Price Performance

NASDAQ:ILMN traded up $0.60 during trading hours on Wednesday, hitting $139.68. The company’s stock had a trading volume of 1,333,421 shares, compared to its average volume of 1,404,191. The company has a market capitalization of $22.15 billion, a PE ratio of -14.02 and a beta of 1.11. Illumina, Inc. has a 52-week low of $100.08 and a 52-week high of $156.66. The business’s 50-day moving average is $141.62 and its two-hundred day moving average is $131.98. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.88 by $0.26. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 earnings per share. As a group, research analysts anticipate that Illumina, Inc. will post 4.11 EPS for the current fiscal year.

About Illumina

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.