Illumina (NASDAQ:ILMN) Director Keith Meister Sells 50,000 Shares of Company Stock

Illumina, Inc. (NASDAQ:ILMN) Director Keith Meister sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $227.17, for a total transaction of $11,358,500.00. Following the sale, the director owned 488,917 shares of the company’s stock, valued at approximately $111,067,274.89. The trade was a 9.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Illumina Trading Down 8.2%

NASDAQ:ILMN opened at $208.00 on Friday. 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 stock has a market capitalization of $31.45 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 3.08 and a beta of 1.46. The firm’s 50 day moving average is $249.44 and its 200 day moving average is $177.79. 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 data on Thursday, October 29th. The life sciences company reported $1.62 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 the consensus estimate of $1.15 billion. During the same quarter in the prior year, the business earned $1.34 earnings per share. Illumina’s revenue for the quarter was up 4.2% on a year-over-year basis. Sell-side analysts expect that Illumina, Inc. will post 5.43 earnings per share for the current year.

Institutional Trading of Illumina

A number of hedge funds have recently made changes to their positions in ILMN. Baker Tilly Wealth Management LLC raised its position in Illumina by 3.3% during the third quarter. Baker Tilly Wealth Management LLC now owns 1,297 shares of the life sciences company’s stock valued at $355,000 after purchasing an additional 42 shares in the last quarter. Ashton Thomas Securities LLC lifted its stake in Illumina by 3.3% during the third quarter. Ashton Thomas Securities LLC now owns 1,348 shares of the life sciences company’s stock worth $369,000 after purchasing an additional 43 shares during the last quarter. Elevation Wealth Partners LLC lifted its stake in Illumina by 19.7% during the third quarter. Elevation Wealth Partners LLC now owns 292 shares of the life sciences company’s stock worth $80,000 after purchasing an additional 48 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in Illumina by 0.5% during the third quarter. Evergreen Capital Management LLC now owns 9,474 shares of the life sciences company’s stock worth $2,593,000 after purchasing an additional 50 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in shares of Illumina by 2.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 2,506 shares of the life sciences company’s stock worth $686,000 after purchasing an additional 54 shares in the last quarter. 89.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Leerink Partners upped their price target on Illumina from $220.00 to $300.00 and gave the company an “outperform” rating in a research report on Tuesday, September 29th. Stephens downgraded shares of Illumina from an “overweight” rating to an “equal weight” rating and set a $275.00 price target for the company. in a report on Friday, October 23rd. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $215.00 price target on shares of Illumina in a report on Friday, July 31st. Evercore reiterated an “underperform” rating on shares of Illumina in a research report on Friday, October 30th. Finally, Guggenheim lifted their price target on Illumina from $226.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, October 1st. Ten research 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $244.24.

Illumina Company Profile

Illumina, Inc is a biotechnology company that develops and manufactures genomics and genetic-analysis technologies. Its products are used to study DNA and RNA in applications including biomedical research, clinical testing, pharmaceutical development, reproductive health, oncology and population genomics.

The company’s offerings include next-generation sequencing systems, consumable flow cells and reagent kits, microarrays, and genomic data-analysis software. Its sequencing portfolio includes instruments such as the NovaSeq, NextSeq, MiSeq and iSeq platforms, while its informatics products include the DRAGEN platform, which supports the processing and interpretation of sequencing data.