Apollon Wealth Management LLC Makes New Investment in Illumina, Inc. (NASDAQ:ILMN)

Apollon Wealth Management LLC purchased a new stake in shares of Illumina, Inc. (NASDAQ:ILMN) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 2,028 shares of the life sciences company’s stock, valued at approximately $282,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MeadowBrook Investment Advisors LLC purchased a new position in Illumina in the 4th quarter worth approximately $42,000. Spire Wealth Management grew its position in Illumina by 24.8% in the fourth quarter. Spire Wealth Management now owns 809 shares of the life sciences company’s stock worth $110,000 after acquiring an additional 161 shares in the last quarter. National Bank of Canada FI increased its stake in Illumina by 43.6% in the fourth quarter. National Bank of Canada FI now owns 378,247 shares of the life sciences company’s stock valued at $52,050,000 after acquiring an additional 114,834 shares during the last quarter. Legacy Financial Advisors Inc. purchased a new stake in Illumina during the fourth quarter valued at about $256,000. Finally, Power Wealth Management LLC bought a new stake in Illumina during the fourth quarter worth about $1,110,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ILMN. OTR Global reissued a “mixed” rating on shares of Illumina in a report on Wednesday, March 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $253.00 price objective on shares of Illumina in a research note on Tuesday, April 9th. Robert W. Baird lifted their target price on shares of Illumina from $125.00 to $128.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. HSBC downgraded shares of Illumina from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Finally, Barclays raised their price objective on Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Illumina currently has a consensus rating of “Hold” and an average price target of $164.65.

Insider Buying and Selling

In other news, CEO Jacob Thaysen acquired 7,330 shares of the stock in a transaction on Thursday, February 22nd. The stock was acquired at an average price of $135.29 per share, with a total value of $991,675.70. Following the completion of the transaction, the chief executive officer now owns 14,861 shares of the company’s stock, valued at approximately $2,010,544.69. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.17% of the stock is owned by insiders.

Illumina Trading Up 2.0 %

NASDAQ:ILMN opened at $112.77 on Tuesday. The company has a 50-day moving average price of $127.36 and a 200-day moving average price of $126.83. The stock has a market cap of $17.96 billion, a price-to-earnings ratio of -13.84 and a beta of 1.20. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. Illumina, Inc. has a 12 month low of $89.00 and a 12 month high of $213.91.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.04 by $0.05. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the business posted $0.08 earnings per share. Illumina’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities analysts predict that Illumina, Inc. will post 0.87 EPS for the current year.

Illumina 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.