Raymond James Trust N.A. Lowers Holdings in Illumina, Inc. (NASDAQ:ILMN)

Raymond James Trust N.A. reduced its position in shares of Illumina, Inc. (NASDAQ:ILMN) by 4.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,673 shares of the life sciences company’s stock after selling 184 shares during the period. Raymond James Trust N.A.’s holdings in Illumina were worth $383,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp lifted its position in Illumina by 4.3% during the fourth quarter. Truist Financial Corp now owns 60,101 shares of the life sciences company’s stock valued at $8,369,000 after purchasing an additional 2,462 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Illumina by 78.1% during the 4th quarter. Russell Investments Group Ltd. now owns 69,646 shares of the life sciences company’s stock worth $9,725,000 after acquiring an additional 30,538 shares during the last quarter. Victory Capital Management Inc. grew its position in Illumina by 5.9% in the fourth quarter. Victory Capital Management Inc. now owns 122,743 shares of the life sciences company’s stock worth $17,091,000 after acquiring an additional 6,827 shares in the last quarter. Iyo Bank Ltd. bought a new position in Illumina in the fourth quarter valued at $766,000. Finally, JFG Wealth Management LLC purchased a new stake in Illumina during the fourth quarter valued at about $278,000. Institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ILMN. TD Cowen raised Illumina from a “hold” rating to a “buy” rating and raised their price objective for the company from $126.00 to $144.00 in a report on Wednesday, August 14th. Barclays upgraded shares of Illumina from an “underweight” rating to an “equal weight” rating and set a $125.00 price objective for the company in a report on Wednesday, August 14th. UBS Group increased their target price on shares of Illumina from $131.00 to $133.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Daiwa America raised shares of Illumina to a “strong-buy” rating in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. reduced their price objective on Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Illumina has a consensus rating of “Moderate Buy” and a consensus price target of $151.10.

Illumina Price Performance

Shares of NASDAQ ILMN opened at $130.90 on Wednesday. Illumina, Inc. has a 1 year low of $89.00 and a 1 year high of $171.50. The stock has a market capitalization of $20.85 billion, a P/E ratio of -16.06 and a beta of 1.15. The company’s 50-day moving average is $117.37 and its 200 day moving average is $121.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.36.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.24. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The business’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 EPS. On average, sell-side analysts expect that Illumina, Inc. will post 1.5 earnings per share for the current 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.