Raymond James Financial Inc. Invests $50.58 Million in Illumina, Inc. (NASDAQ:ILMN)

Raymond James Financial Inc. bought a new position in Illumina, Inc. (NASDAQ:ILMN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 378,482 shares of the life sciences company's stock, valued at approximately $50,577,000. Raymond James Financial Inc. owned about 0.24% of Illumina as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WCM Investment Management LLC lifted its stake in Illumina by 26.6% in the fourth quarter. WCM Investment Management LLC now owns 4,129,855 shares of the life sciences company's stock valued at $551,625,000 after purchasing an additional 867,673 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Illumina by 0.8% in the fourth quarter. Bank of New York Mellon Corp now owns 3,402,057 shares of the life sciences company's stock valued at $454,617,000 after acquiring an additional 27,618 shares during the last quarter. Geode Capital Management LLC increased its stake in Illumina by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,727,827 shares of the life sciences company's stock valued at $354,933,000 after acquiring an additional 48,018 shares during the last quarter. Primecap Management Co. CA increased its stake in Illumina by 3.6% in the third quarter. Primecap Management Co. CA now owns 2,516,359 shares of the life sciences company's stock valued at $328,158,000 after acquiring an additional 87,599 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Illumina by 40.5% in the third quarter. Janus Henderson Group PLC now owns 2,168,057 shares of the life sciences company's stock valued at $282,735,000 after acquiring an additional 625,245 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ILMN. HSBC downgraded Illumina from a "buy" rating to a "hold" rating and set a $100.00 price objective on the stock. in a report on Friday, February 28th. Morgan Stanley cut their target price on Illumina from $150.00 to $136.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. Piper Sandler lifted their price objective on Illumina from $185.00 to $190.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. TD Cowen cut Illumina from a "buy" rating to a "hold" rating and cut their price objective for the company from $177.00 to $140.00 in a research report on Friday, February 7th. Finally, Stephens reissued an "overweight" rating and issued a $156.00 price target on shares of Illumina in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.85.

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Illumina Price Performance

Shares of ILMN opened at $84.52 on Wednesday. Illumina, Inc. has a 1-year low of $80.18 and a 1-year high of $156.66. The firm has a fifty day simple moving average of $116.45 and a two-hundred day simple moving average of $130.84. The company has a current ratio of 1.77, a quick ratio of 1.42 and a debt-to-equity ratio of 0.63. The firm has a market cap of $13.39 billion, a PE ratio of -11.01, a P/E/G ratio of 1.60 and a beta of 1.17.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, equities analysts anticipate that Illumina, Inc. will post 4.51 EPS for the current year.

Illumina Company 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.

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