Perigon Wealth Management LLC Lowers Stake in Illumina, Inc. (NASDAQ:ILMN)

Perigon Wealth Management LLC cut its position in Illumina, Inc. (NASDAQ:ILMN) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,758 shares of the life sciences company’s stock after selling 252 shares during the period. Perigon Wealth Management LLC’s holdings in Illumina were worth $654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ILMN. Versant Capital Management Inc boosted its holdings in Illumina by 153.7% in the 4th 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 period. TD Private Client Wealth LLC boosted its stake in shares of Illumina by 58.5% in the third quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock worth $50,000 after acquiring an additional 141 shares during the period. Massmutual Trust Co. FSB ADV grew its position in shares of Illumina by 65.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after purchasing an additional 168 shares in the last quarter. Private Trust Co. NA grew its position in shares of Illumina by 81.2% during the third quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock worth $62,000 after purchasing an additional 212 shares in the last quarter. Finally, Focused Wealth Management Inc bought a new stake in Illumina during the 3rd quarter valued at approximately $63,000. 89.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ILMN shares. Hsbc Global Res raised shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price objective for the company in a report on Thursday, October 17th. Robert W. Baird raised their target price on shares of Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Morgan Stanley reduced their price target on shares of Illumina from $156.00 to $150.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. raised their price objective on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Stephens boosted their target price on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Illumina presently has an average rating of “Moderate Buy” and a consensus target price of $165.63.

Illumina Price Performance

ILMN opened at $132.74 on Friday. The business has a fifty day moving average of $138.97 and a 200 day moving average of $135.03. The stock has a market cap of $21.05 billion, a P/E ratio of -13.33 and a beta of 1.11. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. Illumina, Inc. has a 52-week low of $100.08 and a 52-week 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, beating analysts’ consensus estimates of $0.88 by $0.26. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The business’s revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 earnings per share. As a group, sell-side analysts anticipate that Illumina, Inc. will post 4.13 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.