Traders Buy Illumina (ILMN) on Weakness

Investors purchased shares of Illumina, Inc. (NASDAQ:ILMN) on weakness during trading hours on Monday. $84.21 million flowed into the stock on the tick-up and $46.17 million flowed out of the stock on the tick-down, for a money net flow of $38.04 million into the stock. Of all stocks tracked, Illumina had the 15th highest net in-flow for the day. Illumina traded down ($1.82) for the day and closed at $281.04

ILMN has been the subject of several research analyst reports. UBS Group initiated coverage on Illumina in a research report on Tuesday, October 9th. They set a “neutral” rating and a $340.00 target price for the company. ValuEngine downgraded Illumina from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 11th. Deutsche Bank lifted their target price on Illumina to $350.00 and gave the stock a “buy” rating in a research report on Friday, October 12th. BidaskClub downgraded Illumina from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, Zacks Investment Research downgraded Illumina from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. Illumina has an average rating of “Buy” and a consensus price target of $346.40.

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The company has a debt-to-equity ratio of 0.24, a current ratio of 2.46 and a quick ratio of 2.24. The firm has a market cap of $41.58 billion, a price-to-earnings ratio of 49.13, a PEG ratio of 2.02 and a beta of 1.20.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Tuesday, January 29th. The life sciences company reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($0.04). The firm had revenue of $867.00 million during the quarter, compared to the consensus estimate of $865.33 million. Illumina had a net margin of 24.79% and a return on equity of 25.44%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 earnings per share. As a group, equities analysts forecast that Illumina, Inc. will post 6.51 EPS for the current fiscal year.

In related news, SVP Charles Dadswell sold 124 shares of Illumina stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $294.71, for a total value of $36,544.04. Following the completion of the sale, the senior vice president now directly owns 7,003 shares in the company, valued at $2,063,854.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mostafa Ronaghi sold 10,000 shares of Illumina stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $314.63, for a total value of $3,146,300.00. Following the completion of the sale, the senior vice president now owns 79,612 shares of the company’s stock, valued at $25,048,323.56. The disclosure for this sale can be found here. Insiders sold 46,123 shares of company stock valued at $14,377,152 over the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in ILMN. Capital International Investors bought a new stake in shares of Illumina in the third quarter valued at about $1,482,837,000. Canada Pension Plan Investment Board grew its stake in Illumina by 272.2% in the third quarter. Canada Pension Plan Investment Board now owns 1,023,452 shares of the life sciences company’s stock valued at $375,668,000 after purchasing an additional 748,500 shares during the last quarter. Jennison Associates LLC grew its stake in Illumina by 12.3% in the third quarter. Jennison Associates LLC now owns 4,826,216 shares of the life sciences company’s stock valued at $1,771,511,000 after purchasing an additional 528,635 shares during the last quarter. WCM Investment Management CA purchased a new position in Illumina in the third quarter valued at about $77,035,000. Finally, Vanguard Group Inc grew its stake in Illumina by 1.8% in the third quarter. Vanguard Group Inc now owns 10,833,784 shares of the life sciences company’s stock valued at $3,976,649,000 after purchasing an additional 188,516 shares during the last quarter. Hedge funds and other institutional investors own 88.94% of the company’s stock.

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About Illumina (NASDAQ:ILMN)

Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing by synthesis technology that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as allow the detection of known genetic markers on a single array.

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