Illumina (NASDAQ:ILMN) Director Sells $13,508,656.68 in Stock

Illumina, Inc. (NASDAQ:ILMN) Director Keith Meister sold 62,691 shares of Illumina stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $215.48, for a total value of $13,508,656.68. Following the sale, the director owned 307,659 shares of the company’s stock, valued at approximately $66,294,361.32. This trade represents a 16.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Illumina Trading Down 1.6%

Shares of ILMN traded down $3.38 during trading hours on Thursday, reaching $209.55. 1,726,386 shares of the company traded hands, compared to its average volume of 2,186,053. The stock’s fifty day moving average price is $249.39 and its 200 day moving average price is $179.08. The company has a current ratio of 2.63, a quick ratio of 2.05 and a debt-to-equity ratio of 0.57. The firm has a market cap of $31.68 billion, a price-to-earnings ratio of 36.07, a PEG 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.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Thursday, October 29th. The life sciences company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.36 by $0.26. Illumina had a net margin of 19.72% and a return on equity of 28.38%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm posted $1.34 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. Sell-side analysts forecast that Illumina, Inc. will post 5.43 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Illumina during the 2nd quarter valued at about $3,374,423,000. WCM Investment Management LLC lifted its position in shares of Illumina by 45.5% in the 1st quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company’s stock worth $715,579,000 after purchasing an additional 1,851,848 shares during the period. Primecap Management Co. CA purchased a new stake in shares of Illumina in the 2nd quarter worth approximately $617,981,000. Janus Henderson Group PLC boosted its stake in shares of Illumina by 1.4% during the first quarter. Janus Henderson Group PLC now owns 2,100,638 shares of the life sciences company’s stock valued at $258,924,000 after purchasing an additional 29,094 shares in the last quarter. Finally, Southpoint Capital Advisors LP boosted its stake in shares of Illumina by 20.0% during the first quarter. Southpoint Capital Advisors LP now owns 2,100,000 shares of the life sciences company’s stock valued at $258,846,000 after purchasing an additional 349,536 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ILMN. TD Cowen raised their target price on shares of Illumina from $210.00 to $270.00 and gave the stock a “hold” rating in a research report on Tuesday, October 13th. Weiss Ratings upgraded Illumina from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, November 2nd. Stifel Nicolaus increased their price objective on Illumina from $155.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Zacks Research downgraded Illumina from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 1st. Finally, Citigroup lifted their target price on Illumina from $113.00 to $210.00 and gave the company a “sell” rating in a research report on Monday, November 2nd. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $244.24.

Illumina Company Profile

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.