Jacksonville Wealth Management LLC Invests $347,000 in Illumina, Inc. (NASDAQ:ILMN)

Jacksonville Wealth Management LLC bought a new stake in Illumina, Inc. (NASDAQ:ILMN) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,599 shares of the life sciences company’s stock, valued at approximately $347,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ILMN. Zacks Investment Management purchased a new stake in Illumina during the 3rd quarter worth $2,924,000. Freemont Management S.A. purchased a new stake in shares of Illumina in the third quarter worth about $1,565,000. Assenagon Asset Management S.A. grew its stake in shares of Illumina by 5.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 42,748 shares of the life sciences company’s stock valued at $5,712,000 after buying an additional 2,338 shares in the last quarter. Weybosset Research & Management LLC raised its holdings in shares of Illumina by 92.0% during the 3rd quarter. Weybosset Research & Management LLC now owns 18,052 shares of the life sciences company’s stock valued at $2,354,000 after buying an additional 8,650 shares during the period. Finally, CCLA Investment Management lifted its position in Illumina by 20.5% during the 4th quarter. CCLA Investment Management now owns 535,050 shares of the life sciences company’s stock worth $71,493,000 after acquiring an additional 91,122 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ILMN. Robert W. Baird upped their price objective on shares of Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. TD Cowen increased their price target on Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. UBS Group lifted their price objective on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Stephens upped their target price on Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada raised their price target on shares of Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Illumina currently has a consensus rating of “Moderate Buy” and an average price target of $165.63.

Illumina Stock Up 1.1 %

NASDAQ:ILMN opened at $136.22 on Friday. The stock has a 50-day simple moving average of $138.93 and a 200 day simple moving average of $134.46. Illumina, Inc. has a 52-week low of $100.08 and a 52-week high of $156.66. The company has a market cap of $21.60 billion, a PE ratio of -13.68 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 (NASDAQ:ILMN) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 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 period in the previous year, the firm posted $0.33 EPS. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, sell-side analysts expect that Illumina, Inc. will post 4.13 EPS for the current fiscal 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.