The Traders Sell Shares of Illumina Inc. (ILMN) on Strength After Insider Selling

The Traders Sell Shares of Illumina Inc. (ILMN) on Strength After Insider Selling

Traders sold shares of Illumina Inc. (NASDAQ:ILMN) on strength during trading on Thursday after an insider sold shares in the company. $63.96 million flowed into the stock on the tick-up and $89.51 million flowed out of the stock on the tick-down, for a money net flow of $25.55 million out of the stock. Of all stocks tracked, Illumina had the 0th highest net out-flow for the day. Illumina traded up $0.99 for the day and closed at $137.17Specifically, Director Robert S. Epstein sold 300 shares of the stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $174.29, for a total value of $52,287.00. Following the completion of the transaction, the director now owns 6,924 shares in the company, valued at approximately $1,206,783.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Bradbury sold 600 shares of the stock in a transaction on Friday, October 7th. The shares were sold at an average price of $184.36, for a total value of $110,616.00. Following the completion of the transaction, the director now owns 17,065 shares of the company’s stock, valued at approximately $3,146,103.40. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

A number of research firms recently weighed in on ILMN. JPMorgan Chase & Co. increased their price target on Illumina from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 27th. Cantor Fitzgerald reiterated a “hold” rating and issued a $165.00 price target on shares of Illumina in a research report on Wednesday, July 27th. Mizuho increased their price target on Illumina from $138.00 to $148.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Citigroup Inc. lowered Illumina from a “buy” rating to a “neutral” rating and decreased their price target for the company from $190.00 to $140.00 in a research report on Tuesday. Finally, Zacks Investment Research upgraded Illumina from a “sell” rating to a “hold” rating and set a $186.00 price objective for the company in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $157.50.

The company’s 50-day moving average is $172.04 and its 200-day moving average is $156.15. The stock has a market cap of $20.11 billion, a price-to-earnings ratio of 46.98 and a beta of 0.47.

Illumina (NASDAQ:ILMN) last announced its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.13. Illumina had a net margin of 18.73% and a return on equity of 23.69%. The business earned $600 million during the quarter, compared to the consensus estimate of $31.91 million. During the same quarter last year, the firm earned $0.80 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts expect that Illumina Inc. will post $3.53 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. Physicians Financial Services Inc. increased its position in shares of Illumina by 2,121.2% in the second quarter. Physicians Financial Services Inc. now owns 733 shares of the life sciences company’s stock worth $103,000 after buying an additional 700 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Illumina by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 789 shares of the life sciences company’s stock worth $110,000 after buying an additional 158 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Illumina during the second quarter worth $112,000. Ropes Wealth Advisors LLC increased its position in shares of Illumina by 72.6% in the second quarter. Ropes Wealth Advisors LLC now owns 863 shares of the life sciences company’s stock worth $121,000 after buying an additional 363 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its position in shares of Illumina by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 958 shares of the life sciences company’s stock worth $134,000 after buying an additional 22 shares in the last quarter. 95.22% of the stock is owned by institutional investors and hedge funds.

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