Key Points
- Director Keith Meister sold 50,000 Illumina shares at an average of $227.17, worth about $11.36 million. He retained 488,917 shares after the sale, a 9.28% reduction in his position.
- Illumina beat quarterly expectations, reporting EPS of $1.62 versus the $1.36 consensus and revenue of $1.17 billion, up 4.2% year over year.
- Analyst views were mixed: MarketBeat’s average rating was Hold, with an average price target of $244.24; the article also reported the stock was down 8.2%.
Illumina, Inc. (NASDAQ:ILMN - Get Free Report) Director Keith Meister sold 50,000 shares of the company'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 value of $11,358,500.00. Following the completion of the sale, the director directly owned 488,917 shares of the company's stock, valued at approximately $111,067,274.89. This represents a 9.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Illumina Stock Down 8.2%
Shares of NASDAQ ILMN opened at $208.00 on Friday. The stock has a market capitalization of $31.45 billion, a P/E ratio of 35.80, a PEG ratio of 3.08 and a beta of 1.46. Illumina, Inc. has a one year low of $112.65 and a one year high of $309.35. The firm's 50 day simple moving average is $249.44 and its two-hundred day simple moving average is $177.79. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.63 and a quick ratio of 2.05.
Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The life sciences company reported $1.62 earnings per share for the quarter, topping 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 firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the business posted $1.34 EPS. The business's quarterly revenue was up 4.2% on a year-over-year basis. As a group, analysts expect that Illumina, Inc. will post 5.43 EPS for the current fiscal year.
Wall Street Analyst Weigh In
ILMN has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their target price on shares of Illumina from $205.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, October 19th. UBS Group upgraded shares of Illumina from a "neutral" rating to a "buy" rating and upped their price target for the company from $135.00 to $260.00 in a research report on Wednesday, September 9th. TD Cowen raised their price objective on Illumina from $210.00 to $270.00 and gave the company a "hold" rating in a research note on Tuesday, October 13th. JPMorgan Chase & Co. reduced their price objective on Illumina from $320.00 to $300.00 and set an "overweight" rating on the stock in a research note on Friday, October 30th. Finally, Stephens downgraded Illumina from an "overweight" rating to an "equal weight" rating and set a $275.00 price objective on the stock. in a report on Friday, October 23rd. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Illumina has an average rating of "Hold" and an average price target of $244.24.
Read Our Latest Research Report on Illumina
Institutional Trading of Illumina
A number of institutional investors have recently made changes to their positions in ILMN. BlackRock Inc. purchased a new position in shares of Illumina in the second quarter worth $3,374,423,000. Primecap Management Co. CA bought a new stake in Illumina during the 2nd quarter valued at $617,981,000. Jupiter Topco LLC bought a new stake in Illumina during the 2nd quarter valued at $358,652,000. WCM Investment Management LLC boosted its position 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 valued at $715,579,000 after buying an additional 1,851,848 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Illumina during the 2nd quarter valued at $293,846,000. Hedge funds and other institutional investors own 89.42% of the company's stock.
About Illumina
(
Get Free Report)
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.
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