Illumina, Inc. (NASDAQ:ILMN) Shares Sold by Partnership Wealth Management LLC

Partnership Wealth Management LLC lessened its stake in Illumina, Inc. (NASDAQ:ILMN) by 50.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,920 shares of the life sciences company’s stock after selling 6,999 shares during the quarter. Partnership Wealth Management LLC’s holdings in Illumina were worth $902,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ILMN. Trivant Custom Portfolio Group LLC raised its stake in Illumina by 166.7% in the first quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock valued at $27,000 after buying an additional 125 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Illumina by 292.9% in the 2nd quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after acquiring an additional 246 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in shares of Illumina in the 2nd quarter valued at about $34,000. Massmutual Trust Co. FSB ADV raised its position in shares of Illumina by 86.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock worth $39,000 after acquiring an additional 132 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in Illumina during the fourth quarter worth approximately $56,000. 89.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on ILMN shares. Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a research note on Friday, August 16th. Argus raised shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Wednesday, August 28th. JPMorgan Chase & Co. reduced their target price on shares of Illumina from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $242.00 price objective on shares of Illumina in a research note on Wednesday, August 14th. Finally, Stephens reiterated an “overweight” rating and issued a $170.00 target price on shares of Illumina in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.05.

Illumina Price Performance

ILMN stock opened at $139.66 on Wednesday. The firm has a 50 day moving average of $128.86 and a 200-day moving average of $120.47. The company has a market cap of $22.25 billion, a price-to-earnings ratio of -17.14 and a beta of 1.15. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. Illumina, Inc. has a 12-month low of $89.00 and a 12-month high of $148.19.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.24. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. Illumina’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 earnings per share. As a group, equities analysts expect that Illumina, Inc. will post 3.63 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.