Ankur Dhingra Acquires 6,100 Shares of Illumina, Inc. (NASDAQ:ILMN) Stock

Illumina, Inc. (NASDAQ:ILMN) CFO Ankur Dhingra bought 6,100 shares of the company’s stock in a transaction on Monday, May 12th. The stock was purchased at an average cost of $81.21 per share, with a total value of $495,381.00. Following the completion of the transaction, the chief financial officer now owns 24,906 shares in the company, valued at $2,022,616.26. This represents a 32.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Illumina Price Performance

ILMN stock opened at $80.90 on Friday. The business has a 50 day moving average price of $78.50 and a 200 day moving average price of $111.80. The stock has a market cap of $12.80 billion, a price-to-earnings ratio of -10.53, a PEG ratio of 1.60 and a beta of 1.35. Illumina, Inc. has a fifty-two week low of $68.70 and a fifty-two week high of $156.66. The company has a quick ratio of 1.42, a current ratio of 1.77 and a debt-to-equity ratio of 0.63.

Illumina (NASDAQ:ILMN) last posted its earnings results on Thursday, May 8th. The life sciences company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Illumina had a positive return on equity of 13.37% and a negative net margin of 27.95%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 earnings per share. Equities research analysts anticipate that Illumina, Inc. will post 4.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. HSBC downgraded Illumina from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research report on Friday, February 28th. JPMorgan Chase & Co. dropped their target price on Illumina from $120.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Hsbc Global Res cut Illumina from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 28th. Piper Sandler decreased their price objective on Illumina from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Barclays decreased their price objective on Illumina from $100.00 to $77.00 and set an “underweight” rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.70.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ILMN. Capital World Investors grew its position in shares of Illumina by 408.6% during the fourth quarter. Capital World Investors now owns 18,025,301 shares of the life sciences company’s stock worth $2,408,721,000 after acquiring an additional 14,481,232 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Illumina by 54,220.9% in the 4th quarter. Brown Advisory Inc. now owns 1,912,639 shares of the life sciences company’s stock valued at $255,586,000 after acquiring an additional 1,909,118 shares during the period. Norges Bank acquired a new position in shares of Illumina in the 4th quarter valued at $228,714,000. Bessemer Group Inc. increased its holdings in shares of Illumina by 32,837.5% in the 4th quarter. Bessemer Group Inc. now owns 1,348,131 shares of the life sciences company’s stock valued at $180,152,000 after acquiring an additional 1,344,038 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Illumina by 2,057.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 922,281 shares of the life sciences company’s stock valued at $73,174,000 after acquiring an additional 879,533 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

About Illumina

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.