Partnership Wealth Management LLC Grows Stock Position in Illumina, Inc. $ILMN

Key Points

• Partnership Wealth Management LLC increased its holdings in Illumina, Inc. by 74.4%, owning 14,779 shares valued at approximately $1.41 million, making it the company's 21st largest position.
• Multiple institutional investors, including Focus Partners Wealth and OMERS ADMINISTRATION Corp, have also significantly boosted their positions in Illumina, with total institutional ownership now around 89.42%.
• Despite reporting better-than-expected earnings of $1.19 per share, Illumina's revenue declined 4.8% year-over-year, leading analysts to adjust their ratings, with an average price target of $123.06 for the stock.

Partnership Wealth Management LLC increased its holdings in Illumina, Inc. (NASDAQ:ILMN - Free Report) by 74.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,779 shares of the life sciences company's stock after buying an additional 6,307 shares during the period. Illumina comprises about 1.1% of Partnership Wealth Management LLC's holdings, making the stock its 21st largest position. Partnership Wealth Management LLC's holdings in Illumina were worth $1,410,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ILMN. Focus Partners Wealth boosted its position in shares of Illumina by 36.3% in the 4th quarter. Focus Partners Wealth now owns 7,687 shares of the life sciences company's stock worth $1,040,000 after buying an additional 2,046 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its holdings in Illumina by 20.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 6,648 shares of the life sciences company's stock valued at $888,000 after purchasing an additional 1,114 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in Illumina by 51.0% in the 4th quarter. Quantinno Capital Management LP now owns 19,097 shares of the life sciences company's stock valued at $2,552,000 after purchasing an additional 6,453 shares in the last quarter. Siemens Fonds Invest GmbH lifted its holdings in Illumina by 84.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 6,119 shares of the life sciences company's stock valued at $818,000 after purchasing an additional 2,807 shares in the last quarter. Finally, Tema Etfs LLC purchased a new position in Illumina in the 4th quarter valued at about $1,903,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ILMN shares. Wall Street Zen lowered shares of Illumina from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Daiwa Capital Markets lowered shares of Illumina from an "outperform" rating to a "neutral" rating and set a $94.00 target price on the stock. in a report on Tuesday, August 12th. Evercore ISI upped their target price on shares of Illumina from $116.00 to $128.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Robert W. Baird upped their target price on shares of Illumina from $84.00 to $105.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, Morgan Stanley upped their target price on shares of Illumina from $100.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Illumina currently has an average rating of "Hold" and an average price target of $123.06.

Illumina Trading Down 4.2%

Shares of ILMN stock opened at $95.12 on Monday. The firm has a market cap of $14.62 billion, a P/E ratio of 12.04, a PEG ratio of 2.14 and a beta of 1.43. Illumina, Inc. has a 1-year low of $68.70 and a 1-year high of $156.66. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.81 and a quick ratio of 1.41. The firm's 50-day simple moving average is $99.46 and its 200-day simple moving average is $88.52.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The life sciences company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.17. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.12 billion. Illumina had a net margin of 29.36% and a return on equity of 28.93%. The company's revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. Illumina has set its FY 2025 guidance at 4.450-4.55 EPS. As a group, equities analysts forecast that Illumina, Inc. will post 4.51 EPS for the current year.

Illumina Company Profile

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.

Want to see what other hedge funds are holding ILMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Illumina, Inc. (NASDAQ:ILMN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.