Raymond James Trust N.A. Cuts Position in Illumina, Inc. (NASDAQ:ILMN)

Raymond James Trust N.A. reduced its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 5.8% during the third quarter, HoldingsChannel.com reports. The fund owned 3,460 shares of the life sciences company’s stock after selling 213 shares during the quarter. Raymond James Trust N.A.’s holdings in Illumina were worth $451,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Illumina during the 2nd quarter valued at $34,000. Versant Capital Management Inc grew its position in Illumina by 292.9% during the second quarter. Versant Capital Management Inc now owns 330 shares of the life sciences company’s stock valued at $34,000 after buying an additional 246 shares during the period. Massmutual Trust Co. FSB ADV raised its position 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 acquiring an additional 168 shares during the period. Focused Wealth Management Inc purchased a new position in Illumina in the third quarter valued at about $63,000. Finally, Hollencrest Capital Management purchased a new position in Illumina in the third quarter valued at about $63,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. TD Cowen lifted their price target on shares of Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Daiwa America raised Illumina to a “strong-buy” rating in a research report on Friday, August 16th. Leerink Partners lifted their price objective on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Canaccord Genuity Group upped their price objective on shares of Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Finally, StockNews.com assumed coverage on shares of Illumina in a research note on Thursday, August 29th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $164.00.

Illumina Price Performance

ILMN opened at $142.95 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The stock’s 50 day simple moving average is $141.15 and its 200 day simple moving average is $125.40. The firm has a market cap of $22.67 billion, a price-to-earnings ratio of -14.35 and a beta of 1.13. Illumina, Inc. has a 1 year low of $93.51 and a 1 year high of $156.66.

Illumina (NASDAQ:ILMN) last issued its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the business earned $0.33 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis. As a group, analysts predict that Illumina, Inc. will post 4.11 earnings per share 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.