Kingswood Wealth Advisors LLC Cuts Position in Illumina, Inc. (NASDAQ:ILMN)

Kingswood Wealth Advisors LLC lowered its stake in shares of Illumina, Inc. (NASDAQ:ILMN) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,580 shares of the life sciences company’s stock after selling 643 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Illumina were worth $612,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ILMN. AQR Capital Management LLC raised its holdings in shares of Illumina by 390.9% in the second quarter. AQR Capital Management LLC now owns 75,561 shares of the life sciences company’s stock worth $7,887,000 after acquiring an additional 60,168 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Illumina by 31.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 125,285 shares of the life sciences company’s stock valued at $13,077,000 after purchasing an additional 30,229 shares during the last quarter. Creative Planning lifted its holdings in Illumina by 3.4% in the 2nd quarter. Creative Planning now owns 16,144 shares of the life sciences company’s stock valued at $1,685,000 after purchasing an additional 525 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Illumina by 176.3% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 7,176 shares of the life sciences company’s stock worth $749,000 after purchasing an additional 4,579 shares during the last quarter. Finally, Truist Financial Corp raised its position in shares of Illumina by 1.7% in the second quarter. Truist Financial Corp now owns 62,840 shares of the life sciences company’s stock valued at $6,559,000 after buying an additional 1,075 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Morgan Stanley reduced their price objective on Illumina from $156.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Canaccord Genuity Group increased their price objective on shares of Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. HSBC raised shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price objective on Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Hsbc Global Res raised Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price for the company in a research report on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Illumina has an average rating of “Moderate Buy” and a consensus price target of $165.63.

Illumina Stock Performance

NASDAQ:ILMN opened at $131.72 on Thursday. The firm’s 50-day moving average is $139.05 and its 200-day moving average is $135.07. The company has a market cap of $20.89 billion, a price-to-earnings ratio of -13.22 and a beta of 1.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. Illumina, Inc. has a 52-week low of $100.08 and a 52-week high of $156.66.

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

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.