Illumina (NASDAQ:ILMN) Director Sells $21,433,912.71 in Stock

Illumina, Inc. (NASDAQ:ILMN) Director Keith Meister sold 98,833 shares of Illumina stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $216.87, for a total value of $21,433,912.71. Following the completion of the sale, the director directly owned 208,826 shares of the company’s stock, valued at approximately $45,288,094.62. The trade was a 32.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Illumina Stock Performance

Shares of NASDAQ:ILMN traded down $3.38 during midday trading on Thursday, reaching $209.55. 1,726,386 shares of the company’s stock traded hands, compared to its average volume of 2,186,053. The company has a market cap of $31.68 billion, a price-to-earnings ratio of 36.07, a P/E/G ratio of 2.92 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.05 and a current ratio of 2.63. Illumina, Inc. has a one year low of $112.65 and a one year high of $309.35. The stock has a 50 day moving average of $249.39 and a 200 day moving average of $179.08.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Thursday, October 29th. The life sciences company reported $1.62 EPS for the quarter, beating 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 company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm posted $1.34 earnings per share. Illumina’s revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Illumina, Inc. will post 5.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Illumina during the 3rd quarter valued at about $31,000. Signature Equity Partners LLC increased its position in shares of Illumina by 246.5% during the 3rd quarter. Signature Equity Partners LLC now owns 149 shares of the life sciences company’s stock valued at $41,000 after purchasing an additional 106 shares during the last quarter. Fiduciary Financial Advisors purchased a new stake in shares of Illumina during the 2nd quarter valued at about $26,000. MCF Advisors LLC lifted its stake in shares of Illumina by 172.4% in the 2nd quarter. MCF Advisors LLC now owns 158 shares of the life sciences company’s stock worth $28,000 after purchasing an additional 100 shares during the period. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of Illumina in the 2nd quarter worth approximately $32,000. Institutional investors own 89.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ILMN. Canaccord Genuity Group raised their price target on shares of Illumina from $205.00 to $300.00 and gave the company a “hold” rating in a report on Monday, October 19th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $215.00 price target on shares of Illumina in a research note on Friday, July 31st. JPMorgan Chase & Co. decreased their price objective 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. Zacks Research downgraded shares of Illumina from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 1st. Finally, Deutsche Bank cut shares of Illumina to a “hold” rating in a report on Wednesday, August 5th. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.