Traders Buy Shares of Illumina (ILMN) on Weakness
Traders purchased shares of Illumina, Inc. (NASDAQ:ILMN) on weakness during trading hours on Thursday. $50.89 million flowed into the stock on the tick-up and $37.86 million flowed out of the stock on the tick-down, for a money net flow of $13.03 million into the stock. Of all equities tracked, Illumina had the 31st highest net in-flow for the day. Illumina traded down ($2.55) for the day and closed at $240.04
ILMN has been the subject of a number of research reports. Zacks Investment Research raised Illumina from a “hold” rating to a “buy” rating and set a $229.00 target price for the company in a report on Friday, October 27th. Deutsche Bank raised Illumina from a “hold” rating to a “buy” rating and dropped their target price for the stock from $195.00 to $160.00 in a report on Monday, October 23rd. Canaccord Genuity reissued a “buy” rating and set a $230.00 target price (up previously from $215.00) on shares of Illumina in a report on Thursday, October 12th. Vetr upgraded Illumina from a “hold” rating to a “buy” rating and set a $217.50 price target on the stock in a research report on Tuesday, September 19th. Finally, Bank of America raised their price target on Illumina from $215.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $214.38.
The company has a current ratio of 4.22, a quick ratio of 3.73 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $35,730.00, a PE ratio of 46.17, a PEG ratio of 3.23 and a beta of 0.79.
Illumina (NASDAQ:ILMN) last released its earnings results on Tuesday, October 24th. The life sciences company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.12. Illumina had a return on equity of 19.42% and a net margin of 30.34%. The firm had revenue of $714.00 million for the quarter, compared to analysts’ expectations of $692.77 million. During the same quarter in the previous year, the business posted $0.97 earnings per share. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. sell-side analysts expect that Illumina, Inc. will post 3.76 earnings per share for the current year.
In other news, EVP Omead Ostadan sold 3,540 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $226.91, for a total transaction of $803,261.40. Following the sale, the executive vice president now directly owns 26,827 shares in the company, valued at $6,087,314.57. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert S. Epstein sold 1,250 shares of the business’s stock in a transaction dated Saturday, December 29th. The stock was sold at an average price of $217.38, for a total value of $271,725.00. Following the sale, the director now owns 8,838 shares in the company, valued at $1,921,204.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,671 shares of company stock worth $29,485,768. Company insiders own 0.89% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ILMN. Advisory Services Network LLC grew its holdings in shares of Illumina by 13.0% during the second quarter. Advisory Services Network LLC now owns 772 shares of the life sciences company’s stock worth $134,000 after purchasing an additional 89 shares during the last quarter. Dupont Capital Management Corp bought a new stake in shares of Illumina during the third quarter worth about $153,000. Patten Group Inc. grew its holdings in shares of Illumina by 71.1% during the third quarter. Patten Group Inc. now owns 1,480 shares of the life sciences company’s stock worth $172,000 after purchasing an additional 615 shares during the last quarter. West Coast Financial LLC bought a new stake in shares of Illumina during the third quarter worth about $216,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Illumina during the second quarter worth about $226,000. Institutional investors own 91.60% of the company’s stock.
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Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.
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