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

Partnership Wealth Management LLC acquired a new stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,424 shares of the life sciences company's stock, valued at approximately $1,491,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. abrdn plc raised its stake in Illumina by 764.9% during the fourth quarter. abrdn plc now owns 339,023 shares of the life sciences company's stock worth $47,206,000 after purchasing an additional 299,827 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Illumina during the third quarter worth approximately $29,558,000. International Assets Investment Management LLC raised its stake in Illumina by 210.5% during the fourth quarter. International Assets Investment Management LLC now owns 48,194 shares of the life sciences company's stock worth $6,711,000 after purchasing an additional 32,672 shares during the period. Aquila Investment Management LLC raised its stake in Illumina by 150.0% during the fourth quarter. Aquila Investment Management LLC now owns 25,000 shares of the life sciences company's stock worth $3,481,000 after purchasing an additional 15,000 shares during the period. Finally, Weil Company Inc. raised its stake in shares of Illumina by 59.2% in the 3rd quarter. Weil Company Inc. now owns 22,963 shares of the life sciences company's stock valued at $3,152,000 after acquiring an additional 8,539 shares during the period. Hedge funds and other institutional investors own 89.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. HSBC downgraded shares of Illumina from a "buy" rating to a "hold" rating in a research note on Tuesday, January 16th. Barclays raised their target price on shares of Illumina from $85.00 to $100.00 and gave the company an "underweight" rating in a research note on Wednesday, April 10th. Royal Bank of Canada reissued an "outperform" rating and issued a $253.00 target price on shares of Illumina in a research note on Tuesday, April 9th. StockNews.com raised shares of Illumina from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, OTR Global reissued a "mixed" rating on shares of Illumina in a research note on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Illumina currently has an average rating of "Hold" and a consensus target price of $164.65.

Insider Transactions at Illumina

In other Illumina news, CEO Jacob Thaysen purchased 7,330 shares of Illumina stock in a transaction dated Thursday, February 22nd. The shares were bought at an average cost of $135.29 per share, for a total transaction of $991,675.70. Following the transaction, the chief executive officer now owns 14,861 shares in the company, valued at approximately $2,010,544.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.17% of the company's stock.

Illumina Stock Down 0.7 %

ILMN stock traded down $0.82 during mid-day trading on Friday, hitting $110.53. 1,179,720 shares of the company were exchanged, compared to its average volume of 1,648,134. The firm has a fifty day simple moving average of $127.36 and a 200 day simple moving average of $126.74. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. Illumina, Inc. has a twelve month low of $89.00 and a twelve month high of $213.91. The company has a market capitalization of $17.61 billion, a PE ratio of -13.56 and a beta of 1.20.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.05. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the firm posted $0.08 EPS. The company's revenue for the quarter was down 1.0% on a year-over-year basis. On average, research analysts forecast that Illumina, Inc. will post 0.87 earnings per share for the current fiscal year.

Illumina 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.

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