Illumina (NASDAQ:ILMN) Stock: Insider Keith Meister Sells 50,000 Shares

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

Illumina Trading Down 8.2%

Shares of ILMN stock traded down $18.54 on Thursday, reaching $208.00. The company had a trading volume of 4,232,792 shares, compared to its average volume of 2,195,646. 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 cap of $31.45 billion, a PE ratio of 35.80, a PEG ratio of 3.23 and a beta of 1.46. The company has a 50-day moving average of $249.77 and a 200-day moving average of $177.46. Illumina, Inc. has a 12 month low of $112.65 and a 12 month high of $309.35.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fiduciary Financial Advisors acquired a new stake in shares of Illumina during the second quarter worth $26,000. MCF Advisors LLC boosted its position 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 acquiring an additional 100 shares during the last quarter. Keating Financial Advisory Services Inc. bought a new position in shares of Illumina during the 2nd quarter worth approximately $32,000. Rakuten Securities Inc. bought a new position in shares of Illumina during the 2nd quarter worth approximately $33,000. Finally, WealthCollab LLC grew its stake in shares of Illumina by 51.5% during the 1st quarter. WealthCollab LLC now owns 303 shares of the life sciences company’s stock worth $37,000 after acquiring an additional 103 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Illumina from $320.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, October 30th. Stephens downgraded Illumina from an “overweight” rating to an “equal weight” rating and set a $275.00 price objective on the stock. in a research note on Friday, October 23rd. Evercore reiterated an “underperform” rating on shares of Illumina in a report on Friday, October 30th. Piper Sandler boosted their target price on Illumina from $225.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, September 28th. Finally, TD Cowen increased their price target on Illumina from $210.00 to $270.00 and gave the stock a “hold” rating in a report on Tuesday, October 13th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company 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.