Jacksonville Wealth Management LLC Acquires New Holdings in Illumina, Inc. (NASDAQ:ILMN)

Jacksonville Wealth Management LLC bought a new position in shares of Illumina, Inc. (NASDAQ:ILMN) during the fourth quarter, HoldingsChannel reports. The fund bought 2,599 shares of the life sciences company’s stock, valued at approximately $347,000.

Other institutional investors also recently modified their holdings of the company. Zacks Investment Management acquired a new stake in shares of Illumina during the 3rd quarter valued at $2,924,000. Freemont Management S.A. acquired a new stake in shares of Illumina during the third quarter valued at about $1,565,000. Assenagon Asset Management S.A. grew its holdings in shares of Illumina by 5.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 42,748 shares of the life sciences company’s stock worth $5,712,000 after purchasing an additional 2,338 shares during the last quarter. Weybosset Research & Management LLC increased its stake in shares of Illumina by 92.0% in the third quarter. Weybosset Research & Management LLC now owns 18,052 shares of the life sciences company’s stock valued at $2,354,000 after buying an additional 8,650 shares during the period. Finally, CCLA Investment Management raised its holdings in Illumina by 20.5% in the 4th quarter. CCLA Investment Management now owns 535,050 shares of the life sciences company’s stock valued at $71,493,000 after buying an additional 91,122 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ILMN has been the topic of a number of research reports. HSBC raised shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Thursday, October 17th. Stephens boosted their price objective on shares of Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Robert W. Baird raised their target price on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Citigroup cut Illumina from a “buy” rating to a “neutral” rating and decreased their price target for the company from $190.00 to $165.00 in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.63.

Illumina Price Performance

ILMN stock opened at $136.22 on Friday. Illumina, Inc. has a 1 year low of $100.08 and a 1 year high of $156.66. The stock has a market capitalization of $21.60 billion, a PE ratio of -13.68 and a beta of 1.11. The company’s 50-day moving average is $138.93 and its 200-day moving average is $134.46. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The company’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share. Equities research analysts expect that Illumina, Inc. will post 4.13 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.