Short Interest in Illumina, Inc. (NASDAQ:ILMN) Rises By 38.9%

Illumina, Inc. (NASDAQ:ILMN – Get Rating) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 3,430,000 shares, an increase of 38.9% from the May 31st total of 2,470,000 shares. Based on an average trading volume of 1,280,000 shares, the days-to-cover ratio is currently 2.7 days.

Illumina stock traded up $6.68 during midday trading on Monday, reaching $191.04. 41,175 shares of the stock traded hands, compared to its average volume of 1,162,206. The company has a 50-day simple moving average of $233.46 and a two-hundred day simple moving average of $310.07. Illumina has a 12-month low of $180.00 and a 12-month high of $526.00. The firm has a market cap of $30.01 billion, a PE ratio of 41.53, a price-to-earnings-growth ratio of 1.50 and a beta of 1.10. The company has a current ratio of 1.85, a quick ratio of 1.54 and a debt-to-equity ratio of 0.11.

Illumina (NASDAQ:ILMN – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The life sciences company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.20. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Illumina had a net margin of 15.04% and a return on equity of 8.37%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.89 EPS. Equities research analysts anticipate that Illumina will post 4.1 earnings per share for the current year.

In other news, SVP Susan H. Tousi sold 250 shares of the company’s stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $214.85, for a total value of $53,712.50. Following the transaction, the senior vice president now owns 41,833 shares in the company, valued at $8,987,820.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Charles Dadswell sold 368 shares of the company’s stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $300.13, for a total transaction of $110,447.84. Following the completion of the transaction, the senior vice president now owns 7,427 shares in the company, valued at approximately $2,229,065.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,080 shares of company stock valued at $1,747,022. 0.13% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of ILMN. Norges Bank acquired a new stake in Illumina during the 4th quarter worth $532,645,000. AustralianSuper Pty Ltd acquired a new stake in shares of Illumina in the 1st quarter worth $240,547,000. Castleview Partners LLC acquired a new stake in shares of Illumina in the 4th quarter worth $1,226,000. Baillie Gifford & Co. increased its holdings in shares of Illumina by 2.1% in the 1st quarter. Baillie Gifford & Co. now owns 20,907,058 shares of the life sciences company’s stock valued at $7,304,926,000 after purchasing an additional 426,521 shares in the last quarter. Finally, Select Equity Group L.P. increased its holdings in shares of Illumina by 123.2% in the 4th quarter. Select Equity Group L.P. now owns 749,656 shares of the life sciences company’s stock valued at $285,199,000 after purchasing an additional 413,771 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

A number of analysts have commented on the stock. Piper Sandler reduced their target price on shares of Illumina from $460.00 to $360.00 and set a “na” rating for the company in a report on Sunday, May 15th. Cowen reduced their target price on shares of Illumina from $506.00 to $492.00 in a report on Friday, May 6th. StockNews.com initiated coverage on shares of Illumina in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Cowen reduced their price objective on shares of Illumina from $506.00 to $492.00 in a research note on Friday, May 6th. Finally, Citigroup reduced their price objective on shares of Illumina from $400.00 to $325.00 in a research note on Friday, May 6th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $435.92.

About Illumina (Get Rating)

Illumina, Inc provides sequencing and array-based solutions for genetic and genomic analysis. Its products and services serve customers in a range of markets enabling the adoption of genomic solutions in research and clinical settings for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments.

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