Partnership Wealth Management LLC Decreases Holdings in Illumina, Inc. (NASDAQ:ILMN)

Partnership Wealth Management LLC lowered its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 50.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,920 shares of the life sciences company’s stock after selling 6,999 shares during the period. Partnership Wealth Management LLC’s holdings in Illumina were worth $902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Trivant Custom Portfolio Group LLC raised its holdings in shares of Illumina by 166.7% during the first quarter. Trivant Custom Portfolio Group LLC now owns 200 shares of the life sciences company’s stock valued at $27,000 after acquiring an additional 125 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Illumina by 86.8% during the first quarter. Massmutual Trust Co. FSB ADV now owns 284 shares of the life sciences company’s stock worth $39,000 after purchasing an additional 132 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in Illumina in the 2nd quarter valued at $34,000. Versant Capital Management Inc lifted its holdings in 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 purchasing an additional 246 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Illumina during the fourth quarter worth $56,000. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Stock Performance

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

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.12 by $0.24. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm posted $0.32 earnings per share. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Illumina, Inc. will post 3.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

ILMN has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $242.00 price objective on shares of Illumina in a research report on Wednesday, August 14th. Evercore ISI dropped their target price on Illumina from $195.00 to $175.00 and set an “outperform” rating for the company in a report on Tuesday, June 11th. Piper Sandler reduced their price target on Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Finally, Barclays raised 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. One 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $152.05.

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.