Illumina (NASDAQ:ILMN) Stock: Insider Scott Ericksen Sells 267 Shares

Illumina, Inc. (NASDAQ:ILMN) CAO Scott Ericksen sold 267 shares of the business’s stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $217.76, for a total value of $58,141.92. Following the sale, the chief accounting officer owned 14,029 shares of the company’s stock, valued at approximately $3,054,955.04. The trade was a 1.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Illumina Trading Down 1.6%

Illumina stock traded down $3.38 during mid-day trading on Thursday, hitting $209.55. The stock had a trading volume of 1,726,174 shares, compared to its average volume of 2,185,932. The stock has a 50-day simple moving average of $249.39 and a two-hundred day simple moving average of $179.08. The stock has a market capitalization of $31.68 billion, a PE ratio of 36.07, a P/E/G 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 current ratio of 2.63, a quick ratio of 2.05 and a debt-to-equity ratio of 0.57.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, October 29th. The life sciences company reported $1.62 earnings per share for the quarter, topping 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 firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the business posted $1.34 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Illumina, Inc. will post 5.43 EPS for the current year.

Hedge Funds Weigh In On Illumina

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Illumina during the 2nd quarter worth about $3,374,423,000. WCM Investment Management LLC boosted its stake in Illumina by 45.5% during 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 acquiring an additional 1,851,848 shares during the last quarter. Primecap Management Co. CA bought a new position in Illumina during the 2nd quarter worth approximately $617,981,000. Ninety One UK Ltd grew its holdings in Illumina by 37,920.0% during the third quarter. Ninety One UK Ltd now owns 1,359,974 shares of the life sciences company’s stock valued at $372,198,000 after purchasing an additional 1,356,397 shares during the period. Finally, Jupiter Topco LLC acquired a new position in Illumina during the second quarter valued at approximately $358,652,000. Institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ILMN. Weiss Ratings upgraded shares of Illumina from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, November 2nd. Wall Street Zen lowered shares of Illumina from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. JPMorgan Chase & Co. reduced their price objective on shares of Illumina from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, October 30th. Citigroup lifted their target price on shares of Illumina from $113.00 to $210.00 and gave the stock a “sell” rating in a report on Monday, November 2nd. Finally, Evercore reiterated an “underperform” rating on shares of Illumina in a research report on Friday, October 30th. Ten equities 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 data from MarketBeat, Illumina presently has an average rating of “Hold” and a consensus price target 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.