Illumina (NASDAQ:ILMN) Stock: Insider Keith Meister Sells 98,833 Shares

Illumina, Inc. (NASDAQ:ILMN) Director Keith Meister sold 98,833 shares of Illumina stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $216.87, for a total value of $21,433,912.71. Following the sale, the director owned 208,826 shares in the company, valued at $45,288,094.62. This represents a 32.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Illumina Stock Performance

Shares of Illumina stock opened at $207.01 on Friday. Illumina, Inc. has a 12 month low of $112.65 and a 12 month high of $309.35. The firm has a market capitalization of $31.30 billion, a P/E ratio of 39.91, a P/E/G ratio of 2.84 and a beta of 1.46. The company has a current ratio of 2.63, a quick ratio of 2.05 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $249.02 and a two-hundred day simple moving average of $179.64.

Illumina (NASDAQ:ILMN) last released its earnings results 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. The firm 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 company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 EPS. On average, equities analysts forecast that Illumina, Inc. will post 5.43 earnings per share for the current fiscal year.

Illumina News Summary

Here’s some of the latest news about ILMN:

• Positive Sentiment: An updated valuation estimate raised Illumina’s fair value to $261.45 per share from $248.90, offering a potential upside reference. Illumina Stock Sees Modest Fair Value Lift
• 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

Institutional Trading of Illumina

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Illumina during the second quarter valued at $3,374,423,000. WCM Investment Management LLC raised its position in 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 worth $715,579,000 after buying an additional 1,851,848 shares during the last quarter. Primecap Management Co. CA bought a new position in Illumina during the 2nd quarter valued at about $617,981,000. Ninety One UK Ltd grew its stake in shares of Illumina by 37,920.0% in the third quarter. Ninety One UK Ltd now owns 1,359,974 shares of the life sciences company’s stock worth $372,198,000 after acquiring an additional 1,356,397 shares during the period. Finally, Jupiter Topco LLC bought a new stake in shares of Illumina in the second quarter worth approximately $358,652,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ILMN shares. Barclays upped their price target on Illumina from $160.00 to $200.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 7th. Zacks Research downgraded Illumina from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 1st. Evercore reaffirmed an “underperform” rating on shares of Illumina in a research report on Friday, October 30th. Leerink Partners upped their price target on shares of Illumina from $220.00 to $300.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 29th. Finally, Wall Street Zen cut shares of Illumina from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Illumina has a consensus rating of “Hold” and a consensus price target 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.