Illumina (NASDAQ:ILMN) Stock: Insider Scott Ericksen Sells 267 Shares

Key Points

• Illumina Chief Accounting Officer Scott Ericksen sold 267 shares for about $58,142 at an average price of $217.76, under a pre-arranged Rule 10b5-1 plan. He retained 14,029 shares after the sale.
• Illumina’s latest quarter beat estimates, reporting $1.62 earnings per share versus $1.36 expected and $1.17 billion in revenue; revenue grew 4.2% year over year.
• Analysts’ views are mixed: MarketBeat reports a consensus “Hold” rating and average price target of $244.24, with 10 Buy, six Hold, and three Sell ratings.

Illumina, Inc. (NASDAQ:ILMN - Get Free Report) CAO Scott Ericksen sold 267 shares of the stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $217.76, for a total transaction of $58,141.92. Following the completion of the transaction, the chief accounting officer owned 14,029 shares of the company's stock, valued at approximately $3,054,955.04. This represents a 1.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Illumina Price Performance

Shares of Illumina stock traded down $3.38 during trading on Thursday, hitting $209.55. 1,726,174 shares of the company's stock traded hands, compared to its average volume of 2,185,932. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.63 and a quick ratio of 2.05. The firm's fifty day moving average price is $249.39 and its 200 day moving average price is $179.08. Illumina, Inc. has a twelve month low of $112.65 and a twelve month high of $309.35. The company has a market cap of $31.68 billion, a PE ratio of 36.07, a PEG ratio of 2.92 and a beta of 1.46.

Illumina (NASDAQ:ILMN - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The life sciences company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.26. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. Illumina had a net margin of 19.72% and a return on equity of 28.38%. The company's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.34 earnings per share. Analysts forecast that Illumina, Inc. will post 5.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Illumina in the 3rd quarter valued at about $31,000. Signature Equity Partners LLC increased its holdings in shares of Illumina by 246.5% in the third quarter. Signature Equity Partners LLC now owns 149 shares of the life sciences company's stock valued at $41,000 after purchasing an additional 106 shares in the last quarter. Fiduciary Financial Advisors acquired a new stake in shares of Illumina in the second quarter valued at approximately $26,000. MCF Advisors LLC increased its holdings in shares of Illumina by 172.4% in the second quarter. MCF Advisors LLC now owns 158 shares of the life sciences company's stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. bought a new position in Illumina in the 2nd quarter worth approximately $32,000. 89.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on ILMN shares. Royal Bank Of Canada upped their price target on Illumina from $230.00 to $310.00 and gave the company an "outperform" rating in a research report on Monday, October 5th. Weiss Ratings raised Illumina from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, November 2nd. TD Cowen boosted their target price on shares of Illumina from $210.00 to $270.00 and gave the company a "hold" rating in a research note on Tuesday, October 13th. Piper Sandler upped their target price on shares of Illumina from $225.00 to $305.00 and gave the stock an "overweight" rating in a report on Monday, September 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Illumina from $320.00 to $300.00 and set an "overweight" rating for the company in a research report on Friday, October 30th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Illumina presently has a consensus rating of "Hold" and a consensus price target of $244.24.

About Illumina

Illumina, Inc. develops and supplies technologies used to analyze genetic variation and biological function. Its products include next-generation sequencing systems, microarrays, reagents and consumables, as well as software and related services that help customers generate and interpret genomic data. The company's technology is used in applications such as medical and population research, genetic testing, drug development, and agricultural and environmental studies. Its customers include academic and government research institutions, hospitals and clinical laboratories, biotechnology and pharmaceutical companies, and other organizations around the world.

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