Illumina (NASDAQ:ILMN) Reaches New 12-Month High - Here's Why

Key Points

• Illumina shares reached a new 52-week high, trading as high as $199.65 and gaining 2.3%, with the stock well above its 50-day and 200-day moving averages.
• The company exceeded quarterly expectations, reporting $1.15 in earnings per share versus the $1.05 consensus and revenue of $1.09 billion, up 4.8% year over year.
• Analyst sentiment remains mixed: nine analysts rate the stock Buy, seven Hold and two Sell, while the consensus rating is Hold with a $156.88 price target—below its current trading level. Insiders have also sold more than $155 million of shares over the past 90 days.

Illumina, Inc. (NASDAQ:ILMN - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $199.65 and last traded at $197.1860, with a volume of 298140 shares trading hands. The stock had previously closed at $194.82.

Analyst Ratings Changes

ILMN has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of Illumina from $80.00 to $95.00 and gave the company a "sell" rating in a report on Monday, May 4th. Sanford C. Bernstein assumed coverage on Illumina in a research note on Friday, June 26th. They issued a "market perform" rating and a $185.00 target price on the stock. Evercore reaffirmed an "outperform" rating on shares of Illumina in a research report on Monday, July 6th. Canaccord Genuity Group increased their price objective on Illumina from $140.00 to $190.00 and gave the company a "hold" rating in a report on Tuesday, July 14th. Finally, Piper Sandler boosted their target price on Illumina from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 1st. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $156.88.

Illumina Trading Up 2.3%

The stock's fifty day simple moving average is $174.28 and its 200-day simple moving average is $146.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.75 and a quick ratio of 1.36. The firm has a market cap of $30.17 billion, a PE ratio of 36.26, a PEG ratio of 2.85 and a beta of 1.47.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The life sciences company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.10. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. Illumina had a net margin of 19.42% and a return on equity of 31.01%. The business's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 earnings per share. On average, sell-side analysts forecast that Illumina, Inc. will post 5.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Christensen Jakob Wedel sold 700 shares of the firm's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $139.04, for a total value of $97,328.00. Following the completion of the transaction, the senior vice president directly owned 15,056 shares in the company, valued at $2,093,386.24. This trade represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Scott M. Davies sold 615 shares of Illumina stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $180.00, for a total value of $110,700.00. Following the sale, the insider directly owned 20,953 shares of the company's stock, valued at $3,771,540. This trade represents a 2.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,003,769 shares of company stock valued at $155,710,908. Insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Elyxium Wealth LLC purchased a new stake in Illumina in the fourth quarter valued at $25,000. Creative Capital Management Investments LLC raised its stake in shares of Illumina by 160.0% during the 4th quarter. Creative Capital Management Investments LLC now owns 195 shares of the life sciences company's stock valued at $26,000 after buying an additional 120 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new position in shares of Illumina in the 4th quarter valued at about $26,000. Laurel Wealth Advisors LLC acquired a new position in shares of Illumina in the 4th quarter valued at about $26,000. Finally, Elevation Wealth Partners LLC boosted its stake in shares of Illumina by 52.5% in the second quarter. Elevation Wealth Partners LLC now owns 244 shares of the life sciences company's stock worth $43,000 after buying an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company's stock.

Illumina Company Profile

Illumina, Inc NASDAQ: ILMN is a global life sciences company that develops, manufactures and markets integrated systems for the analysis of genetic variation and function. Headquartered in San Diego, California and founded in 1998, Illumina offers a range of sequencing and array-based technologies used by academic researchers, clinical laboratories, pharmaceutical and biotechnology companies, consumer genomics firms and agricultural researchers to enable discovery, translational research and clinical applications.

The company's product portfolio includes next-generation sequencing (NGS) platforms and associated consumables, microarrays for genotyping and methylation analysis, library preparation kits and targeted assays.

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