Keith Meister Sells 283,269 Shares of Illumina (NASDAQ:ILMN) Stock

Illumina, Inc. (NASDAQ:ILMN) Director Keith Meister sold 283,269 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $199.61, for a total value of $56,543,325.09. Following the completion of the transaction, the director directly owned 2,089,425 shares in the company, valued at approximately $417,070,124.25. This represents a 11.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Illumina Price Performance

ILMN stock traded down $6.15 during mid-day trading on Thursday, hitting $193.72. 4,268,800 shares of the stock were exchanged, compared to its average volume of 1,934,392. The business has a fifty day moving average price of $179.92 and a 200 day moving average price of $148.41. Illumina, Inc. has a 12 month low of $88.00 and a 12 month high of $207.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.80 and a quick ratio of 1.40. The stock has a market capitalization of $29.25 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 2.86 and a beta of 1.45.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, July 30th. The life sciences company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.08. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Illumina had a net margin of 18.36% and a return on equity of 29.84%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $1.19 earnings per share. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. On average, sell-side analysts anticipate that Illumina, Inc. will post 5.36 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on ILMN. Guggenheim lifted their price objective on Illumina from $200.00 to $226.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Citigroup lifted their price target on Illumina from $95.00 to $113.00 and gave the stock a “sell” rating in a research note on Monday. Canaccord Genuity Group boosted their price objective on Illumina from $190.00 to $205.00 and gave the company a “hold” rating in a research report on Monday. Piper Sandler reissued an “overweight” rating and set a $225.00 price objective (up from $200.00) on shares of Illumina in a research note on Monday. Finally, Stifel Nicolaus raised their target price on shares of Illumina from $155.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Illumina currently has an average rating of “Hold” and an average price target of $188.40.

Institutional Investors Weigh In On Illumina

Hedge funds have recently made changes to their positions in the company. Impact Partnership Wealth LLC grew its stake in shares of Illumina by 235.8% during the 1st quarter. Impact Partnership Wealth LLC now owns 11,080 shares of the life sciences company’s stock valued at $1,366,000 after purchasing an additional 7,780 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Illumina by 8.0% in the first quarter. SG Americas Securities LLC now owns 86,318 shares of the life sciences company’s stock worth $10,640,000 after buying an additional 6,425 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Illumina during the first quarter valued at approximately $5,460,000. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in Illumina by 27.4% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 348,011 shares of the life sciences company’s stock valued at $45,645,000 after buying an additional 74,900 shares during the last quarter. Finally, New York State Teachers Retirement System raised its position in Illumina by 2.7% in the fourth quarter. New York State Teachers Retirement System now owns 149,638 shares of the life sciences company’s stock worth $19,627,000 after acquiring an additional 4,002 shares during the period. 89.42% of the stock is currently owned by institutional investors.

Illumina Company Profile

Illumina, Inc (NASDAQ: ILMN) is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company’s product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.