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

Illumina, Inc. (NASDAQ:ILMN) Director Keith Meister sold 231,433 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director owned 538,917 shares in the company, valued at $128,542,482.84. The trade was a 30.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Illumina Price Performance

Shares of 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 P/E/G ratio of 3.08 and a beta of 1.46. Illumina, Inc. has a twelve month low of $112.65 and a twelve month high of $309.35. The company has a 50 day moving average of $249.44 and a 200-day moving average of $177.79. The company has a quick ratio of 2.05, a current ratio of 2.63 and a debt-to-equity ratio of 0.57.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Thursday, October 29th. The life sciences company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.26. The company 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 last year, the company earned $1.34 earnings per share. As a group, equities research analysts forecast that Illumina, Inc. will post 5.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Illumina

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Illumina in the 2nd quarter valued at $3,374,423,000. WCM Investment Management LLC increased its stake in shares of Illumina by 45.5% in 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 purchasing an additional 1,851,848 shares during the last quarter. Primecap Management Co. CA acquired a new position in shares of Illumina during the 2nd quarter worth $617,981,000. Ninety One UK Ltd raised its holdings in shares of Illumina by 37,920.0% during the 3rd quarter. Ninety One UK Ltd now owns 1,359,974 shares of the life sciences company’s stock worth $372,198,000 after buying an additional 1,356,397 shares in the last quarter. Finally, Jupiter Topco LLC acquired a new position in shares of Illumina during the 2nd quarter worth $358,652,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ILMN shares. Argus increased their price objective on shares of Illumina from $180.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. UBS Group upgraded Illumina from a “neutral” rating to a “buy” rating and raised their price objective for the company from $135.00 to $260.00 in a report on Wednesday, September 9th. Evercore reaffirmed an “underperform” rating on shares of Illumina in a research report on Friday, October 30th. Leerink Partners upped their target price on Illumina from $220.00 to $300.00 and gave the stock an “outperform” rating in a report on Tuesday, September 29th. Finally, Piper Sandler upped their target price on Illumina from $225.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday, September 28th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.