Investors Buy Illumina (ILMN) on Weakness

Investors bought shares of Illumina, Inc. (NASDAQ:ILMN) on weakness during trading 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 companies 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

Several equities analysts have recently weighed in on ILMN shares. Argus raised their price objective on shares of Illumina from $205.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, September 13th. Vetr upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $217.50 price objective for the company in a research report on Tuesday, September 19th. Goldman Sachs Group restated a “neutral” rating and set a $200.00 price objective on shares of Illumina in a research report on Tuesday, September 26th. Piper Jaffray Companies restated an “overweight” rating and set a $226.00 price objective (up previously from $202.00) on shares of Illumina in a research report on Monday, October 9th. Finally, Canaccord Genuity restated a “buy” rating and set a $230.00 price objective (up previously from $215.00) on shares of Illumina in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $214.38.

The company has a market cap of $35,050.00, a price-to-earnings ratio of 45.29, a P/E/G ratio of 3.13 and a beta of 0.79. The company has a quick ratio of 3.73, a current ratio of 4.22 and a debt-to-equity ratio of 0.41.

Illumina (NASDAQ:ILMN) last announced its earnings results on Tuesday, October 24th. The life sciences company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.99 by $0.12. Illumina had a net margin of 30.34% and a return on equity of 19.42%. The company had revenue of $714.00 million during the quarter, compared to analysts’ expectations of $692.77 million. During the same period last year, the company 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 predict that Illumina, Inc. will post 3.75 earnings per share for the current fiscal year.

In related news, Director Jay T. Flatley sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $210.43, for a total transaction of $4,208,600.00. Following the transaction, the director now owns 539,176 shares of the company’s stock, valued at $113,458,805.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Marc Stapley sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $205.48, for a total transaction of $410,960.00. Following the transaction, the executive vice president now directly owns 30,370 shares in the company, valued at approximately $6,240,427.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,671 shares of company stock valued at $29,485,768. Corporate insiders own 0.89% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Dupont Capital Management Corp acquired a new position in Illumina during the third quarter valued at approximately $153,000. Advisory Services Network LLC grew its holdings in Illumina by 13.0% during the second quarter. Advisory Services Network LLC now owns 772 shares of the life sciences company’s stock valued at $134,000 after purchasing an additional 89 shares during the last quarter. West Coast Financial LLC acquired a new position in Illumina during the third quarter valued at approximately $216,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Illumina during the second quarter valued at approximately $226,000. Finally, Colony Group LLC acquired a new position in Illumina during the second quarter valued at approximately $239,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

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Illumina Company Profile

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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