Illumina (NASDAQ:ILMN) Director Sells $26,149,951.85 in Stock

Illumina, Inc. (NASDAQ:ILMN) Director Keith Meister sold 118,567 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $220.55, for a total value of $26,149,951.85. Following the transaction, the director owned 370,350 shares of the company’s stock, valued at $81,680,692.50. The trade was a 24.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Illumina Stock Down 1.6%

Illumina stock traded down $3.38 during trading hours on Thursday, hitting $209.55. The stock had a trading volume of 1,726,386 shares, compared to its average volume of 2,186,053. The stock’s 50-day moving average price is $249.39 and its 200-day moving average price is $179.08. The stock has a market capitalization of $31.68 billion, a P/E ratio of 36.07, a price-to-earnings-growth ratio of 2.92 and a beta of 1.46. Illumina, Inc. has a 12-month low of $112.65 and a 12-month high of $309.35. The company has a quick ratio of 2.05, a current ratio of 2.63 and a debt-to-equity ratio of 0.57.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Thursday, October 29th. The life sciences company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.26. Illumina had a return on equity of 28.38% and a net margin of 19.72%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm posted $1.34 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts anticipate that Illumina, Inc. will post 5.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ILMN. Meeder Advisory Services Inc. increased its holdings in Illumina by 6.7% during the third quarter. Meeder Advisory Services Inc. now owns 2,987 shares of the life sciences company’s stock valued at $817,000 after buying an additional 187 shares during the last quarter. NWK Group Inc. bought a new position in Illumina in the third quarter worth approximately $7,202,000. Allianz SE purchased a new position in shares of Illumina during the 3rd quarter worth $249,000. Resona Asset Management Co. Ltd. boosted its stake in shares of Illumina by 3.2% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 40,288 shares of the life sciences company’s stock worth $11,011,000 after acquiring an additional 1,267 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Illumina during the 3rd quarter worth $31,000. Institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ILMN shares. Canaccord Genuity Group raised their price target on shares of Illumina from $205.00 to $300.00 and gave the company a “hold” rating in a report on Monday, October 19th. Guggenheim boosted their price objective on shares of Illumina from $226.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, October 1st. Zacks Research cut shares of Illumina from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 1st. Wall Street Zen downgraded shares of Illumina from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Finally, Leerink Partners raised their target price on shares of Illumina from $220.00 to $300.00 and gave the stock an “outperform” rating in a report on Tuesday, September 29th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $244.24.

About Illumina

Illumina, Inc. develops and supplies technologies used to analyze genetic variation and biological function. Its products include next-generation sequencing systems, microarrays, reagents and consumables, as well as software and related services that help customers generate and interpret genomic data. The company’s technology is used in applications such as medical and population research, genetic testing, drug development, and agricultural and environmental studies. Its customers include academic and government research institutions, hospitals and clinical laboratories, biotechnology and pharmaceutical companies, and other organizations around the world.