Raymond James Financial Inc. acquired a new stake in shares of Illumina, Inc. (NASDAQ:ILMN – Free Report) in the 4th quarter, Holdings Channel.com reports. The fund acquired 378,482 shares of the life sciences company’s stock, valued at approximately $50,577,000.

Several other hedge funds have also recently made changes to their positions in ILMN. Bleakley Financial Group LLC purchased a new stake in shares of Illumina during the 4th quarter valued at about $751,000. Zacks Investment Management purchased a new stake in Illumina in the 3rd quarter worth about $2,924,000. Van ECK Associates Corp raised its position in Illumina by 17.5% in the 4th quarter. Van ECK Associates Corp now owns 152,265 shares of the life sciences company’s stock worth $20,347,000 after purchasing an additional 22,718 shares during the period. Strategic Financial Concepts LLC purchased a new stake in Illumina in the 4th quarter worth about $1,464,000. Finally, Allworth Financial LP raised its position in Illumina by 720.7% in the 4th quarter. Allworth Financial LP now owns 7,132 shares of the life sciences company’s stock worth $1,001,000 after purchasing an additional 6,263 shares during the period. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on ILMN. Robert W. Baird reduced their price objective on shares of Illumina from $127.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Hsbc Global Res lowered shares of Illumina from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 28th. HSBC lowered shares of Illumina from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Friday, February 28th. Barclays lowered shares of Illumina from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $130.00 to $100.00 in a research report on Monday, February 10th. Finally, Royal Bank of Canada reduced their target price on shares of Illumina from $250.00 to $247.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $146.85.

View Our Latest Research Report on Illumina

Illumina Trading Down 1.7 %

Illumina stock opened at $84.52 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77. The stock has a market cap of $13.39 billion, a PE ratio of -11.01, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. The stock has a 50-day moving average of $116.45 and a two-hundred day moving average of $130.84. Illumina, Inc. has a one year low of $80.18 and a one year high of $156.66.

Illumina (NASDAQ:ILMN – Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a negative net margin of 27.95% and a positive return on equity of 13.37%. On average, research analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current fiscal year.

About Illumina

(Free Report)

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.

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