Insider Selling: Illumina CEO Unloads 30,000 Shares of Stock (ILMN)
Illumina (NASDAQ:ILMN) CEO Jay T. Flatley unloaded 30,000 shares of Illumina stock on the open market in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $178.98, for a total transaction of $5,369,400.00. Following the completion of the sale, the chief executive officer now directly owns 381,262 shares in the company, valued at approximately $68,238,273. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
ILMN has been the subject of a number of recent research reports. Analysts at Wedbush upgraded shares of Illumina from a “neutral” rating to an “outperform” rating in a research note on Wednesday, August 20th. They now have a $200.00 price target on the stock, up previously from $165.00. Separately, analysts at Stifel Nicolaus initiated coverage on shares of Illumina in a research note on Monday, August 11th. They set a “buy” rating and a $200.00 price target on the stock. Finally, analysts at Goldman Sachs raised their price target on shares of Illumina from $184.00 to $187.00 in a research note on Tuesday, August 5th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $178.92.
Shares of Illumina (NASDAQ:ILMN) traded up 0.16% during mid-day trading on Friday, hitting $179.36. The stock had a trading volume of 1,369,322 shares. Illumina has a 52-week low of $72.77 and a 52-week high of $185.00. The stock has a 50-day moving average of $169.9 and a 200-day moving average of $161.4. The company has a market cap of $25.003 billion and a P/E ratio of 119.63.
Illumina (NASDAQ:ILMN) last released its earnings data on Wednesday, July 23rd. The company reported $0.57 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.50 by $0.07. The company had revenue of $448.00 million for the quarter, compared to the consensus estimate of $426.50 million. During the same quarter last year, the company posted $0.43 earnings per share. Illumina’s revenue was up 29.5% compared to the same quarter last year. Analysts expect that Illumina will post $2.29 EPS 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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