Illumina Sees Unusually Large Options Volume (NASDAQ:ILMN)

Illumina, Inc. (NASDAQ:ILMN – Get Rating) was the target of unusually large options trading on Monday. Stock investors acquired 7,168 call options on the company. This represents an increase of 121% compared to the average daily volume of 3,237 call options.

Insiders Place Their Bets

In other Illumina news, SVP Alexander Aravanis sold 5,398 shares of Illumina stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $201.74, for a total value of $1,088,992.52. Following the completion of the sale, the senior vice president now directly owns 2,922 shares in the company, valued at $589,484.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Illumina news, SVP Aimee L. Hoyt sold 3,917 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $199.06, for a total value of $779,718.02. Following the completion of the sale, the senior vice president now owns 2,881 shares of the company’s stock, valued at $573,491.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Alexander Aravanis sold 5,398 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $201.74, for a total value of $1,088,992.52. Following the completion of the sale, the senior vice president now directly owns 2,922 shares of the company’s stock, valued at approximately $589,484.28. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Illumina

A number of hedge funds have recently bought and sold shares of ILMN. Brown Brothers Harriman & Co. raised its stake in shares of Illumina by 460.9% in the first quarter. Brown Brothers Harriman & Co. now owns 129 shares of the life sciences company’s stock valued at $45,000 after buying an additional 106 shares during the period. HighMark Wealth Management LLC bought a new stake in shares of Illumina in the first quarter valued at $33,000. Elequin Securities LLC bought a new stake in shares of Illumina in the fourth quarter valued at $29,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Illumina in the first quarter valued at $33,000. Finally, Clearstead Trust LLC raised its stake in shares of Illumina by 125.7% in the first quarter. Clearstead Trust LLC now owns 158 shares of the life sciences company’s stock valued at $37,000 after buying an additional 88 shares during the period. 87.97% of the stock is currently owned by institutional investors.

Illumina Stock Performance

Shares of Illumina stock opened at $201.92 on Wednesday. The business’s fifty day simple moving average is $217.26 and its 200 day simple moving average is $212.50. The firm has a market capitalization of $31.92 billion, a P/E ratio of -7.08, a price-to-earnings-growth ratio of 6.29 and a beta of 1.18. Illumina has a 12 month low of $173.45 and a 12 month high of $258.07. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.22.

Illumina (NASDAQ:ILMN – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The life sciences company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. Illumina had a positive return on equity of 2.26% and a negative net margin of 100.92%. Illumina’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. As a group, analysts anticipate that Illumina will post 1.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Piper Sandler reissued an “overweight” rating and issued a $290.00 price objective on shares of Illumina in a research note on Wednesday, February 8th. Bank of America raised their price objective on Illumina from $210.00 to $230.00 in a research note on Wednesday, February 8th. SVB Leerink raised their price objective on Illumina from $249.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, February 8th. JPMorgan Chase & Co. reduced their price objective on Illumina from $300.00 to $271.00 and set a “neutral” rating for the company in a research note on Wednesday, February 8th. Finally, Robert W. Baird lifted their target price on Illumina from $224.00 to $229.00 in a research report on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $253.70.

About Illumina

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Illumina, Inc engages in the development, manufacturing, and marketing of life science tools and integrated systems for large-scale analysis of genetic variation and function. It operates through the Core Illumina segment, which serves customers in the research, clinical and applied markets fields, and enables the adoption of a variety of genomic solutions.