Investors Buy Illumina (ILMN) on Weakness on Insider Selling

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Investors purchased shares of Illumina, Inc. (NASDAQ:ILMN) on weakness during trading on Friday after an insider sold shares in the company. $355.18 million flowed into the stock on the tick-up and $49.26 million flowed out of the stock on the tick-down, for a money net flow of $305.92 million into the stock. Of all equities tracked, Illumina had the 13th highest net in-flow for the day. Illumina traded down ($3.40) for the day and closed at $282.65Specifically, SVP Charles Dadswell sold 116 shares of the company’s stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $230.91, for a total value of $26,785.56. Following the sale, the senior vice president now owns 7,875 shares in the company, valued at $1,818,416.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert S. Epstein sold 500 shares of the company’s stock in a transaction dated Thursday, June 21st. The stock was sold at an average price of $288.45, for a total value of $144,225.00. Following the completion of the sale, the director now owns 6,639 shares in the company, valued at approximately $1,915,019.55. The disclosure for this sale can be found here. Insiders sold 39,271 shares of company stock worth $10,483,503 in the last 90 days. Company insiders own 0.54% of the company’s stock.

A number of equities analysts have issued reports on ILMN shares. Morgan Stanley increased their price target on Illumina from $180.00 to $195.00 and gave the stock an “underweight” rating in a research report on Thursday, May 31st. BidaskClub upgraded Illumina from a “hold” rating to a “buy” rating in a research report on Saturday, March 10th. Zacks Investment Research upgraded Illumina from a “hold” rating to a “buy” rating and set a $270.00 price target on the stock in a research report on Monday, April 16th. Barclays increased their price target on Illumina from $215.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 25th. Finally, ValuEngine downgraded Illumina from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Illumina currently has an average rating of “Buy” and an average target price of $253.36.

The stock has a market cap of $42.05 billion, a price-to-earnings ratio of 70.66, a P/E/G ratio of 3.06 and a beta of 0.88. The company has a quick ratio of 2.41, a current ratio of 2.71 and a debt-to-equity ratio of 0.23.

Illumina (NASDAQ:ILMN) last released its earnings results on Tuesday, April 24th. The life sciences company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.43. Illumina had a return on equity of 24.93% and a net margin of 19.31%. The business had revenue of $782.00 million for the quarter, compared to the consensus estimate of $744.30 million. During the same quarter last year, the business posted $0.64 earnings per share. The business’s quarterly revenue was up 30.8% compared to the same quarter last year. analysts forecast that Illumina, Inc. will post 4.86 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of ILMN. Financial Gravity Companies Inc. acquired a new stake in shares of Illumina in the fourth quarter valued at approximately $106,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Illumina in the first quarter valued at approximately $113,000. Captrust Financial Advisors acquired a new stake in shares of Illumina in the fourth quarter valued at approximately $165,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Illumina in the first quarter valued at approximately $193,000. Finally, Summit Trail Advisors LLC increased its holdings in shares of Illumina by 21,172.1% in the first quarter. Summit Trail Advisors LLC now owns 194,852 shares of the life sciences company’s stock valued at $195,000 after purchasing an additional 193,936 shares during the last quarter. 90.53% of the stock is owned by hedge funds and other institutional investors.

Illumina Company Profile

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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