Illumina (NASDAQ:ILMN) Shares Down 6% – Time to Sell?

Shares of Illumina, Inc. (NASDAQ:ILMN) traded down 6% on Tuesday. The stock traded as low as $275.03 and last traded at $276.1260. 1,628,854 shares were traded during mid-day trading, a decline of 24% from the average session volume of 2,151,239 shares. The stock had previously closed at $293.69.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ILMN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Illumina in a report on Monday, August 31st. JPMorgan Chase & Co. raised their price target on Illumina from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft lowered Illumina to a “hold” rating in a report on Wednesday, August 5th. Citigroup upped their price objective on Illumina from $95.00 to $113.00 and gave the company a “sell” rating in a research report on Monday, August 3rd. Finally, Piper Sandler increased their target price on Illumina from $225.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, September 28th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Illumina presently has a consensus rating of “Hold” and a consensus target price of $222.19.

Illumina Price Performance

The company has a quick ratio of 1.40, a current ratio of 1.80 and a debt-to-equity ratio of 0.53. The stock has a market cap of $40.43 billion, a P/E ratio of 49.96, a P/E/G ratio of 3.88 and a beta of 1.41. The firm has a 50 day moving average price of $224.53 and a 200 day moving average price of $179.22.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Thursday, July 30th. The life sciences company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.08. Illumina had a return on equity of 29.84% and a net margin of 18.36%.The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted $1.19 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. Illumina has set its FY 2026 guidance at 5.300-5.400 EPS. On average, analysts forecast that Illumina, Inc. will post 5.36 EPS for the current fiscal year.

Insider Buying and Selling at Illumina

In related news, SVP Christensen Wedel sold 1,033 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $191.52, for a total value of $197,840.16. Following the completion of the transaction, the senior vice president owned 14,023 shares of the company’s stock, valued at approximately $2,685,684.96. This represents a 6.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Keith A. Meister sold 119,501 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $218.40, for a total value of $26,099,018.40. Following the completion of the sale, the director owned 770,350 shares of the company’s stock, valued at $168,244,440. The trade was a 13.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,061,850 shares of company stock worth $436,479,102 over the last 90 days. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Illumina

Several large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Illumina during the 2nd quarter valued at approximately $3,374,423,000. WCM Investment Management LLC boosted its stake in Illumina by 45.5% in the 1st quarter. WCM Investment Management LLC now owns 5,923,173 shares of the life sciences company’s stock worth $715,579,000 after purchasing an additional 1,851,848 shares during the period. Primecap Management Co. CA purchased a new stake in Illumina during the 2nd quarter valued at approximately $617,981,000. Jupiter Topco LLC purchased a new stake in Illumina during the 2nd quarter valued at approximately $358,652,000. Finally, Wellington Management Group LLP raised its position in shares of Illumina by 190.1% during the second quarter. Wellington Management Group LLP now owns 1,812,928 shares of the life sciences company’s stock valued at $318,767,000 after buying an additional 1,188,004 shares during the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Company Profile

Illumina, Inc develops and manufactures technologies used to analyze genetic variation and biological function. Its products are primarily based on next-generation sequencing, a method that enables researchers and clinicians to read DNA and RNA for applications including genomic research, disease studies, drug development and clinical testing.

The company offers sequencing instruments, consumables such as reagent kits and flow cells, and related software and informatics solutions. Illumina also provides services and support designed to help customers prepare samples, run sequencing workflows, interpret genomic data and integrate results into research or clinical operations.

Founded in 1998 and headquartered in San Diego, California, Illumina serves customers worldwide, including academic and government research institutions, pharmaceutical and biotechnology companies, hospitals, clinical laboratories and other healthcare organizations.