Power Wealth Management LLC Takes $1.11 Million Position in Illumina, Inc. (NASDAQ:ILMN)

Power Wealth Management LLC bought a new position in shares of Illumina, Inc. (NASDAQ:ILMN) in the 4th quarter, Holdings Channel.com reports. The fund bought 7,975 shares of the life sciences company’s stock, valued at approximately $1,110,000. Illumina accounts for approximately 0.8% of Power Wealth Management LLC’s investment portfolio, making the stock its 29th largest position.

Several other large investors also recently bought and sold shares of ILMN. Vanguard Group Inc. raised its holdings in shares of Illumina by 15.0% in the 3rd quarter. Vanguard Group Inc. now owns 17,967,758 shares of the life sciences company’s stock valued at $2,466,614,000 after purchasing an additional 2,336,935 shares in the last quarter. Polen Capital Management LLC raised its stake in Illumina by 0.6% in the third quarter. Polen Capital Management LLC now owns 5,126,614 shares of the life sciences company’s stock valued at $703,782,000 after buying an additional 29,153 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in Illumina by 5.5% during the 3rd quarter. Loomis Sayles & Co. L P now owns 4,007,957 shares of the life sciences company’s stock worth $550,212,000 after buying an additional 208,267 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Illumina by 6.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,648,935 shares of the life sciences company’s stock worth $500,926,000 after acquiring an additional 225,074 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Illumina by 120.0% during the 3rd quarter. Barclays PLC now owns 1,768,355 shares of the life sciences company’s stock worth $242,758,000 after acquiring an additional 964,709 shares in the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

ILMN has been the subject of several recent analyst reports. Barclays boosted their target price on Illumina from $85.00 to $100.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. Royal Bank of Canada restated an “outperform” rating and set a $253.00 price objective on shares of Illumina in a research report on Tuesday, April 9th. Stephens reaffirmed an “overweight” rating and issued a $170.00 target price on shares of Illumina in a research report on Wednesday, April 10th. HSBC cut shares of Illumina from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Finally, StockNews.com lowered Illumina from a “buy” rating to a “hold” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Illumina has an average rating of “Hold” and an average target price of $165.10.

Insiders Place Their Bets

In other Illumina news, CEO Jacob Thaysen purchased 7,330 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were purchased at an average cost of $135.29 per share, for a total transaction of $991,675.70. Following the completion of the purchase, the chief executive officer now directly owns 14,861 shares in the company, valued at $2,010,544.69. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.17% of the stock is currently owned by insiders.

Illumina Price Performance

ILMN traded down $6.06 during trading on Friday, hitting $117.93. The stock had a trading volume of 2,987,105 shares, compared to its average volume of 1,375,095. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.66. Illumina, Inc. has a twelve month low of $89.00 and a twelve month high of $213.91. The company’s 50-day moving average price is $130.03 and its 200 day moving average price is $127.02.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.28%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.08 earnings per share. As a group, equities research analysts forecast that Illumina, Inc. will post 0.91 earnings per share 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.