Investors Sell Shares of Illumina Inc. (ILMN) on Strength Following Insider Selling
Investors sold shares of Illumina Inc. (NASDAQ:ILMN) on strength during trading hours on Thursday after an insider sold shares in the company. $63.96 million flowed into the stock on the tick-up and $89.51 million flowed out of the stock on the tick-down, for a money net flow of $25.55 million out of the stock. Of all stocks tracked, Illumina had the 14th highest net out-flow for the day. Illumina traded up $0.99 for the day and closed at $137.17Specifically, Director Robert S. Epstein sold 1,200 shares of the business’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $150.00, for a total transaction of $180,000.00. Following the transaction, the director now directly owns 7,824 shares in the company, valued at approximately $1,173,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel Bradbury sold 600 shares of the business’s stock in a transaction on Friday, October 7th. The stock was sold at an average price of $184.36, for a total value of $110,616.00. Following the transaction, the director now owns 17,065 shares in the company, valued at $3,146,103.40. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.
Several research analysts recently weighed in on the company. Canaccord Genuity set a $136.00 target price on Illumina and gave the stock a “hold” rating in a research note on Friday, October 7th. Vetr downgraded Illumina from a “buy” rating to a “hold” rating and set a $187.86 target price on the stock. in a research note on Monday. Citigroup Inc. downgraded Illumina from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $190.00 to $140.00 in a research note on Tuesday. Barclays PLC set a $142.00 target price on Illumina and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Janney Montgomery Scott downgraded Illumina from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $155.00 to $125.00 in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $157.50.
The stock has a 50 day moving average price of $172.97 and a 200-day moving average price of $156.29. The company has a market capitalization of $20.11 billion, a P/E ratio of 46.98 and a beta of 0.47.
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Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.13. Illumina had a net margin of 18.73% and a return on equity of 23.69%. The firm had revenue of $600 million for the quarter, compared to analyst estimates of $31.91 million. During the same period in the prior year, the firm posted $0.80 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Analysts expect that Illumina Inc. will post $3.53 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in ILMN. Physicians Financial Services Inc. increased its position in Illumina by 2,121.2% in the second quarter. Physicians Financial Services Inc. now owns 733 shares of the life sciences company’s stock valued at $103,000 after buying an additional 700 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Illumina by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 789 shares of the life sciences company’s stock valued at $110,000 after buying an additional 158 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Illumina during the second quarter valued at approximately $112,000. Ropes Wealth Advisors LLC increased its position in Illumina by 72.6% in the second quarter. Ropes Wealth Advisors LLC now owns 863 shares of the life sciences company’s stock valued at $121,000 after buying an additional 363 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its position in Illumina by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 958 shares of the life sciences company’s stock valued at $134,000 after buying an additional 22 shares in the last quarter. Hedge funds and other institutional investors own 95.22% of the company’s stock.
Illumina Company Profile
Illumina, Inc (Illumina) offers sequencing and array-based solutions for genetic analysis. The Company’s products and services serve customers in a range of markets, enabling the adoption of genomic solutions in research and clinical settings. The Company’s customers include genomic research centers, academic institutions, government laboratories and hospitals, as well as pharmaceutical, biotechnology, agrigenomics and commercial molecular diagnostic laboratories, and consumer genomics companies.
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