Keith Meister Sells 285,238 Shares of Illumina (NASDAQ:ILMN) Stock

Key Points

• Director Keith Meister sold 285,238 Illumina shares for approximately $61.0 million, reducing his direct stake by 14.3% to 1.71 million shares.
• Illumina shares rose 2.9% to $219.40, near their 52-week high, following quarterly results that exceeded expectations: $1.31 EPS and $1.16 billion in revenue, with revenue up 9.4% year over year.
• Institutional ownership stands at 89.42%, while analysts maintain a consensus “Hold” rating with an average price target of $188.40, despite several recent target increases.

Illumina, Inc. (NASDAQ:ILMN - Get Free Report) Director Keith Meister sold 285,238 shares of the company's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $213.86, for a total value of $61,000,998.68. Following the completion of the transaction, the director directly owned 1,709,187 shares of the company's stock, valued at approximately $365,526,731.82. The trade was a 14.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Illumina Trading Up 2.9%

ILMN traded up $6.16 during trading on Friday, reaching $219.40. 1,917,079 shares of the company's stock were exchanged, compared to its average volume of 2,061,622. The company has a current ratio of 1.80, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. Illumina, Inc. has a one year low of $88.00 and a one year high of $220.43. The firm has a fifty day moving average price of $188.01 and a two-hundred day moving average price of $152.44. The stock has a market capitalization of $33.13 billion, a PE ratio of 40.93, a price-to-earnings-growth ratio of 3.00 and a beta of 1.45.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its earnings results on Thursday, July 30th. The life sciences company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.08. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Illumina had a return on equity of 29.84% and a net margin of 18.36%.Illumina's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $1.19 EPS. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. As a group, equities research analysts forecast that Illumina, Inc. will post 5.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Illumina

A number of institutional investors have recently added to or reduced their stakes in ILMN. BlackRock Inc. purchased a new position in shares of Illumina during the second quarter worth about $3,374,423,000. Primecap Management Co. CA purchased a new stake in Illumina in the second quarter valued at approximately $617,981,000. Jupiter Topco LLC bought a new stake in Illumina during the second quarter valued at approximately $358,652,000. WCM Investment Management LLC lifted its position in Illumina by 45.5% during the first quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company's stock valued at $715,579,000 after purchasing an additional 1,851,848 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Illumina in the 2nd quarter worth approximately $293,846,000. 89.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

ILMN has been the topic of several recent analyst reports. Sanford C. Bernstein reissued a "market perform" rating and issued a $215.00 price target on shares of Illumina in a research note on Friday, July 31st. Citigroup lifted their price objective on shares of Illumina from $95.00 to $113.00 and gave the company a "sell" rating in a research note on Monday, August 3rd. TD Cowen boosted their target price on shares of Illumina from $192.00 to $210.00 and gave the company a "hold" rating in a research report on Friday, July 31st. Royal Bank Of Canada increased their target price on shares of Illumina from $170.00 to $230.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Finally, Guggenheim lifted their price target on shares of Illumina from $200.00 to $226.00 and gave the company a "buy" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Illumina currently has a consensus rating of "Hold" and an average price target of $188.40.

About Illumina

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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