Uniting Wealth Partners LLC Makes New Investment in Illumina, Inc. (NASDAQ:ILMN)

Uniting Wealth Partners LLC purchased a new stake in shares of Illumina, Inc. (NASDAQ:ILMN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,000 shares of the life sciences company's stock, valued at approximately $802,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ILMN. Versant Capital Management Inc raised its stake in shares of Illumina by 153.7% during 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 during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Illumina during the fourth quarter worth $32,000. Assetmark Inc. increased its holdings in Illumina by 954.8% in the fourth quarter. Assetmark Inc. now owns 327 shares of the life sciences company's stock valued at $44,000 after purchasing an additional 296 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in Illumina during the fourth quarter worth about $45,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Illumina in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 89.42% of the company's stock.

Illumina Stock Down 1.8 %

NASDAQ:ILMN traded down $1.35 on Tuesday, hitting $72.11. The stock had a trading volume of 1,224,530 shares, compared to its average volume of 2,230,643. Illumina, Inc. has a 1 year low of $69.55 and a 1 year high of $156.66. The firm's fifty day simple moving average is $95.52 and its two-hundred day simple moving average is $124.59. The stock has a market cap of $11.42 billion, a P/E ratio of -9.41, a price-to-earnings-growth ratio of 1.60 and a beta of 1.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.42 and a current ratio of 1.77.

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Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The life sciences company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. Analysts predict that Illumina, Inc. will post 4.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ILMN shares. HSBC cut shares of Illumina from a "buy" rating to a "hold" rating and set a $100.00 target price for the company. in a report on Friday, February 28th. Canaccord Genuity Group decreased their price target on Illumina from $135.00 to $115.00 and set a "hold" rating for the company in a research note on Tuesday, March 11th. Stephens reiterated an "overweight" rating and set a $156.00 price objective on shares of Illumina in a research note on Tuesday, March 11th. Hsbc Global Res lowered shares of Illumina from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 28th. Finally, TD Cowen downgraded shares of Illumina from a "buy" rating to a "hold" rating and decreased their price objective for the company from $177.00 to $140.00 in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $139.85.

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.