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Michael C. Burgess makes a stock sale in Illumina, Inc.

EditorEmilio Ghigini
Published 09/26/2024, 05:15 AM
© Reuters.
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In recent financial news, Michael C. Burgess, the representative for Texas's 26th congressional district, has made a significant transaction in the stock market. The company involved in this transaction is Illumina, Inc. (NASDAQ:ILMN), a leading corporation in the genomics industry.

According to the Periodic Transaction Report released by the Clerk of the House of Representatives, Burgess sold a portion of his holdings in Illumina, Inc. The transaction took place on September 3, 2024, with the official notification date being September 5, 2024.

The financial details of the transaction reveal that the amount of the sale falls within the range of $15,001 to $50,000. This denotes a substantial movement of assets within Burgess's portfolio.

The report specifies that the type of investment sold was common stock, a standard form of corporate equity ownership. It's important to note that the sale was made from Burgess's personal account, indicating a direct involvement in the transaction.

Illumina, Inc. is a renowned company in the genomics sector, offering a range of integrated systems, consumables, and analysis solutions. Their services are pivotal in the fields of disease research, drug development, and the creation of molecular tests.

The sale of Illumina, Inc. stock by Burgess provides a glimpse into the financial decisions made by those in the political sphere. As investors, it's crucial to stay informed about these transactions, as they can potentially impact the market dynamics of the involved companies.

It should be stressed that the sale of these stocks does not necessarily reflect Burgess's outlook on Illumina, Inc. or the genomics industry. Investors are advised to consider a variety of factors when making their investment decisions.

InvestingPro Insights


Amid the news of Representative Michael C. Burgess's recent stock sale, investors may seek a deeper understanding of Illumina, Inc.'s (NASDAQ:ILMN) financial health and future prospects. Here are some insights from InvestingPro that could provide additional context to this transaction:

InvestingPro data shows that Illumina has reported a revenue of $4.429 billion over the last twelve months as of Q2 2024, with a gross profit margin standing strong at 66.34%. Despite a slight revenue decline of 0.72% during the same period, the company's EBITDA experienced a notable growth of 152.99%, indicating potential efficiency improvements in its operations.

InvestingPro Tips suggest that Illumina is expected to see net income growth this year, a promising sign for potential investors. Additionally, the company operates with a moderate level of debt, which could offer some financial stability. However, it's important to note that Illumina has not been profitable over the last twelve months, but analysts predict profitability for the current year. Furthermore, Illumina does not distribute dividends, which might influence investors seeking regular income from their investments.

For those considering Illumina as an investment, it's worth mentioning that there are 25 additional InvestingPro Tips available, which can be accessed for more detailed analysis and guidance. These tips could provide further insights into whether the recent sale by Burgess aligns with broader market sentiments and financial forecasts for Illumina, Inc.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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