Illumina (NASDAQ:ILMN) Stock: Insider Keith Meister Sells 118,567 Shares

Illumina, Inc. (NASDAQ:ILMN) Director Keith Meister sold 118,567 shares of the stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $220.55, for a total transaction of $26,149,951.85. Following the completion of the sale, the director owned 370,350 shares of the company’s stock, valued at approximately $81,680,692.50. The trade was a 24.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Illumina Price Performance

Shares of ILMN opened at $207.01 on Friday. 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, Inc. has a fifty-two week low of $112.65 and a fifty-two week high of $309.35. The company has a market cap of $31.30 billion, a P/E ratio of 39.91, a PEG ratio of 2.84 and a beta of 1.46. The firm’s 50 day moving average price is $249.02 and its 200 day moving average price is $179.64.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, October 29th. The life sciences company reported $1.62 EPS for the quarter, topping 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 analyst estimates of $1.15 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, research analysts forecast that Illumina, Inc. will post 5.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Illumina

A number of institutional investors have recently made changes to their positions in the company. Fiduciary Financial Advisors bought a new stake in Illumina in the 2nd quarter valued at about $26,000. MCF Advisors LLC increased its stake in shares of Illumina by 172.4% in the second quarter. MCF Advisors LLC now owns 158 shares of the life sciences company’s stock worth $28,000 after buying an additional 100 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Illumina during the third quarter valued at approximately $31,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Illumina in the 2nd quarter worth about $32,000. Finally, Rakuten Securities Inc. bought a new position in shares of Illumina during the second quarter valued at $33,000. Institutional investors own 89.42% of the company’s stock.

Illumina News Roundup

Investors following ILMN have been watching these news items:

• Positive Sentiment: Illumina expanded its molecular residual disease research portfolio with a duplex-sequencing workflow and was selected to provide whole-genome sequencing for Singapore’s SG-INSIGHT study, supporting its clinical oncology and precision-medicine ambitions. Illumina Unveils Duplex Sequencing Workflow for MRD Research
• Neutral Sentiment: Chief Accounting Officer Scott Ericksen sold 267 shares under a pre-arranged Rule 10b5-1 plan, a relatively small reduction in his holdings. SEC filing
• Negative Sentiment: Director Keith Meister sold 280,091 shares for approximately $61.1 million across November 9–11, cutting his direct stake substantially. The scale of the sales could concern investors, although he retained a sizable holding. SEC filing

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Illumina from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Tuesday, October 13th. Evercore reissued an “underperform” rating on shares of Illumina in a report on Friday, October 30th. Wall Street Zen lowered Illumina from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Guggenheim increased their price target on Illumina from $226.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, October 1st. Finally, Weiss Ratings raised shares of Illumina from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, November 2nd. Ten investment 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, Illumina currently has an average rating of “Hold” and a consensus target price of $244.24.

Illumina Company Profile

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.