Illumina Shares Down 6.7% Following Insider Selling (ILMN)
Illumina (NASDAQ:ILMN) was down 6.7% during mid-day trading on Friday after an insider sold shares in the company, StockRatingsNetwork.com reports. The company traded as low as $141.00 and last traded at $141.50, with a volume of 1,381,293 shares trading hands. The stock had previously closed at $151.68.
Specifically, CEO Jay T. Flatley sold 30,000 shares of the stock on the open market in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $150.80, for a total value of $4,524,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
ILMN has been the subject of a number of recent research reports. Analysts at Maxim Group upgraded shares of Illumina from a “hold” rating to a “buy” rating in a research note on Wednesday. They now have a $205.00 price target on the stock. Separately, analysts at Bank of America reiterated a “buy” rating on shares of Illumina in a research note on Wednesday. They now have a $195.00 price target on the stock. Finally, analysts at Leerink Swann raised their price target on shares of Illumina from $160.00 to $180.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Illumina has a consensus rating of “Buy” and a consensus target price of $147.23.
The stock’s 50-day moving average is $149.4 and its 200-day moving average is $126.1. The company has a market cap of $17.903 billion and a price-to-earnings ratio of 106.67.
Illumina (NASDAQ:ILMN) last released its earnings data on Tuesday, April 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. The company had revenue of $421.00 million for the quarter, compared to the consensus estimate of $391.50 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, analysts predict that Illumina will post $2.15 earnings per share for the current fiscal year.
Illumina, Inc (NASDAQ:ILMN) is a developer and manufacturer of life science tools and integrated systems for the analysis of genetic variation and function.
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