Illumina (ILMN) Trading Down 5.2% After Insider Selling

Illumina, Inc. (NASDAQ:ILMN)’s share price was down 5.2% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $213.00 and last traded at $213.45. Approximately 1,246,000 shares were traded during trading, an increase of 30% from the average daily volume of 957,940 shares. The stock had previously closed at $225.24.

Specifically, SVP Charles Dadswell sold 145 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $202.23, for a total transaction of $29,323.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert S. Epstein sold 1,250 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $226.55, for a total transaction of $283,187.50. Following the transaction, the director now directly owns 9,088 shares of the company’s stock, valued at approximately $2,058,886.40. The disclosure for this sale can be found here. In the last three months, insiders sold 146,150 shares of company stock worth $30,516,331. Insiders own 0.89% of the company’s stock.

A number of equities analysts have commented on ILMN shares. Barclays boosted their price target on shares of Illumina from $150.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 25th. Zacks Investment Research raised shares of Illumina from a “hold” rating to a “buy” rating and set a $229.00 price objective for the company in a research note on Friday, October 27th. Canaccord Genuity reaffirmed a “buy” rating and issued a $230.00 price objective (up previously from $215.00) on shares of Illumina in a research note on Thursday, October 12th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $226.00 price objective (up previously from $202.00) on shares of Illumina in a research note on Monday, October 9th. Finally, Janney Montgomery Scott raised shares of Illumina from a “sell” rating to a “neutral” rating in a research note on Monday, October 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Illumina currently has a consensus rating of “Buy” and a consensus price target of $201.98.

The company has a quick ratio of 3.73, a current ratio of 4.22 and a debt-to-equity ratio of 0.41. The firm has a market cap of $30,814.76, a price-to-earnings ratio of 61.71, a P/E/G ratio of 3.49 and a beta of 0.79.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Tuesday, October 24th. The life sciences company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.12. The company had revenue of $714.00 million during the quarter, compared to analyst estimates of $692.77 million. Illumina had a net margin of 30.34% and a return on equity of 19.42%. Illumina’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period last year, the business earned $0.97 EPS. analysts anticipate that Illumina, Inc. will post 3.75 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of ILMN. Flagship Harbor Advisors LLC grew its position in Illumina by 1.7% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,046 shares of the life sciences company’s stock valued at $345,000 after purchasing an additional 35 shares during the last quarter. Nordea Investment Management AB grew its position in Illumina by 0.6% during the 2nd quarter. Nordea Investment Management AB now owns 6,798 shares of the life sciences company’s stock valued at $1,180,000 after purchasing an additional 42 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in Illumina by 1.4% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,126 shares of the life sciences company’s stock valued at $528,000 after purchasing an additional 43 shares during the last quarter. Paradigm Asset Management Co. LLC grew its position in Illumina by 5.6% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 950 shares of the life sciences company’s stock valued at $165,000 after purchasing an additional 50 shares during the last quarter. Finally, Pitcairn Co. grew its position in Illumina by 1.5% during the 2nd quarter. Pitcairn Co. now owns 3,644 shares of the life sciences company’s stock valued at $632,000 after purchasing an additional 53 shares during the last quarter. Institutional investors own 91.75% of the company’s stock.

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Illumina Company Profile

Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.

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