Raymond James & Associates Raises Position in Illumina, Inc. (NASDAQ:ILMN)

Raymond James & Associates boosted its position in Illumina, Inc. (NASDAQ:ILMN) by 39.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 441,182 shares of the life sciences company’s stock after purchasing an additional 125,073 shares during the period. Raymond James & Associates owned about 0.28% of Illumina worth $57,535,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Claro Advisors LLC bought a new position in Illumina during the third quarter worth about $1,275,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Illumina by 28.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,370 shares of the life sciences company’s stock worth $2,004,000 after buying an additional 3,393 shares during the period. nVerses Capital LLC purchased a new position in Illumina in the 3rd quarter valued at approximately $65,000. Probity Advisors Inc. bought a new stake in Illumina during the 3rd quarter valued at $239,000. Finally, Beech Hill Advisors Inc. lifted its position in shares of Illumina by 30.2% during the third quarter. Beech Hill Advisors Inc. now owns 7,699 shares of the life sciences company’s stock worth $1,004,000 after acquiring an additional 1,784 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ILMN. JPMorgan Chase & Co. decreased 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. Robert W. Baird increased their price target on shares of Illumina from $119.00 to $124.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Piper Sandler reduced their price objective on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Stephens reiterated an “overweight” rating and issued a $170.00 target price on shares of Illumina in a research note on Wednesday, July 10th. Finally, Hsbc Global Res upgraded shares of Illumina from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Illumina presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.33.

Illumina Trading Down 0.6 %

NASDAQ ILMN opened at $145.21 on Tuesday. The firm has a market cap of $23.13 billion, a PE ratio of -17.82 and a beta of 1.15. Illumina, Inc. has a 1-year low of $89.00 and a 1-year high of $151.40. The stock has a 50-day moving average of $133.15 and a 200-day moving average of $121.24. 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 (NASDAQ:ILMN) last announced 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 firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. As a group, sell-side analysts forecast that Illumina, Inc. will post 3.63 EPS 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.