Illumina (NASDAQ:ILMN) Director Sells 231,433 Shares of Stock

Illumina, Inc. (NASDAQ:ILMN) Director Keith Meister sold 231,433 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $238.52, for a total value of $55,201,399.16. Following the sale, the director owned 538,917 shares of the company’s stock, valued at $128,542,482.84. This represents a 30.04% 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 8.2%

Shares of ILMN traded down $18.54 during trading on Thursday, reaching $208.00. The company’s stock had a trading volume of 4,232,792 shares, compared to its average volume of 2,195,646. The company has a quick ratio of 2.05, a current ratio of 2.63 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $249.77 and a two-hundred day moving average of $177.46. The company has a market cap of $31.45 billion, a price-to-earnings ratio of 35.80, a P/E/G ratio of 3.23 and a beta of 1.46. Illumina, Inc. has a twelve month low of $112.65 and a twelve 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 analysts’ consensus estimates of $1.36 by $0.26. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.15 billion. Illumina had a net margin of 19.72% and a return on equity of 28.38%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.34 EPS. On average, sell-side analysts predict that Illumina, Inc. will post 5.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ILMN. Canaccord Genuity Group boosted their price target on Illumina from $205.00 to $300.00 and gave the company a “hold” rating in a report on Monday, October 19th. Weiss Ratings upgraded Illumina from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday. Evercore reaffirmed an “underperform” rating on shares of Illumina in a report on Friday, October 30th. Barclays boosted their target price on shares of Illumina from $160.00 to $200.00 and gave the company an “underweight” rating in a research note on Wednesday, October 7th. Finally, Piper Sandler increased their target price on shares of Illumina from $225.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday, September 28th. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Illumina currently has an average rating of “Hold” and an average target price of $244.24.

Hedge Funds Weigh In On Illumina

Several institutional investors have recently made changes to their positions in the stock. Fiduciary Financial Advisors acquired a new position in Illumina during the 2nd quarter valued at approximately $26,000. MCF Advisors LLC grew its stake in Illumina by 172.4% during the 2nd quarter. MCF Advisors LLC now owns 158 shares of the life sciences company’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Keating Financial Advisory Services Inc. acquired a new stake in Illumina in the second quarter worth $32,000. Rakuten Securities Inc. acquired a new stake in Illumina in the second quarter worth $33,000. Finally, WealthCollab LLC increased its position in Illumina by 51.5% in the first quarter. WealthCollab LLC now owns 303 shares of the life sciences company’s stock worth $37,000 after buying an additional 103 shares during the period. 89.42% of the stock is owned by institutional investors.

About Illumina

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.