Insider Selling: Illumina, Inc. (ILMN) SVP Sells 10,000 Shares of Stock

Illumina, Inc. (NASDAQ:ILMN) SVP Mostafa Ronaghi sold 10,000 shares of the company’s stock in a transaction dated Wednesday, October 10th. The shares were sold at an average price of $311.84, for a total transaction of $3,118,400.00. Following the completion of the transaction, the senior vice president now directly owns 80,805 shares in the company, valued at approximately $25,198,231.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mostafa Ronaghi also recently made the following trade(s):

  • On Monday, September 10th, Mostafa Ronaghi sold 10,000 shares of Illumina stock. The shares were sold at an average price of $347.07, for a total transaction of $3,470,700.00.
  • On Friday, August 10th, Mostafa Ronaghi sold 10,000 shares of Illumina stock. The shares were sold at an average price of $331.39, for a total transaction of $3,313,900.00.

Shares of ILMN traded up $14.24 during mid-day trading on Friday, hitting $321.69. 1,867,100 shares of the company’s stock were exchanged, compared to its average volume of 891,778. The stock has a market capitalization of $53.96 billion, a PE ratio of 80.40, a P/E/G ratio of 3.04 and a beta of 0.97. Illumina, Inc. has a fifty-two week low of $198.21 and a fifty-two week high of $372.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.44 and a current ratio of 2.74.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Monday, July 30th. The life sciences company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.32. The business had revenue of $830.00 million for the quarter, compared to analysts’ expectations of $786.88 million. Illumina had a net margin of 20.88% and a return on equity of 26.64%. The business’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 earnings per share. On average, sell-side analysts predict that Illumina, Inc. will post 5.46 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in ILMN. Financial Gravity Wealth Inc. purchased a new stake in shares of Illumina during the first quarter worth approximately $193,000. Nuveen Asset Management LLC increased its stake in shares of Illumina by 6.2% during the first quarter. Nuveen Asset Management LLC now owns 46,016 shares of the life sciences company’s stock worth $10,879,000 after buying an additional 2,667 shares during the period. United Capital Financial Advisers LLC increased its stake in shares of Illumina by 6.4% during the first quarter. United Capital Financial Advisers LLC now owns 38,082 shares of the life sciences company’s stock worth $9,003,000 after buying an additional 2,304 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Illumina by 21.9% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,154 shares of the life sciences company’s stock worth $3,817,000 after buying an additional 2,903 shares during the period. Finally, LPL Financial LLC increased its stake in shares of Illumina by 38.6% during the first quarter. LPL Financial LLC now owns 9,228 shares of the life sciences company’s stock worth $2,182,000 after buying an additional 2,568 shares during the period. Hedge funds and other institutional investors own 89.84% of the company’s stock.

A number of research analysts have commented on ILMN shares. Citigroup upped their target price on shares of Illumina from $275.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, June 25th. Cowen upped their target price on shares of Illumina from $275.00 to $315.00 and gave the company an “outperform” rating in a research report on Tuesday, July 10th. Morgan Stanley increased their price target on shares of Illumina from $195.00 to $210.00 and gave the stock an “underweight” rating in a research report on Friday, July 13th. Piper Jaffray Companies increased their price target on shares of Illumina from $272.00 to $329.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 17th. Finally, Canaccord Genuity reissued a “buy” rating and set a $340.00 price target (up previously from $330.00) on shares of Illumina in a research report on Friday, July 27th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $324.76.

About Illumina

Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing by synthesis technology that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as allow the detection of known genetic markers on a single array.

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