Institute for Wealth Management LLC. Cuts Stake in Illumina, Inc. (NASDAQ:ILMN)

Institute for Wealth Management LLC. lowered its position in Illumina, Inc. (NASDAQ:ILMN) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,374 shares of the life sciences company’s stock after selling 294 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Illumina were worth $317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc boosted its stake in Illumina by 153.7% in the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after buying an additional 146 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in Illumina by 58.5% in the third quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock worth $50,000 after buying an additional 141 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Illumina by 65.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after buying an additional 168 shares in the last quarter. Private Trust Co. NA boosted its stake in Illumina by 81.2% in the third quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock worth $62,000 after buying an additional 212 shares in the last quarter. Finally, Focused Wealth Management Inc bought a new stake in Illumina in the third quarter valued at approximately $63,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Illumina Price Performance

ILMN opened at $132.74 on Friday. The stock has a fifty day simple moving average of $138.97 and a two-hundred day simple moving average of $135.03. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The company has a market cap of $21.05 billion, a price-to-earnings ratio of -13.33 and a beta of 1.11. Illumina, Inc. has a 12-month low of $100.08 and a 12-month high of $156.66.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company earned $0.33 earnings per share. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. Research analysts predict that Illumina, Inc. will post 4.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ILMN shares. Robert W. Baird increased their price objective on Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Citigroup lowered Illumina from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $190.00 to $165.00 in a research note on Wednesday, December 11th. Morgan Stanley dropped their price objective on Illumina from $156.00 to $150.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. increased their price objective on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, Stephens increased their price objective on Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Illumina currently has a consensus rating of “Moderate Buy” and an average target price of $165.63.

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.