Illumina director Keith Meister sells $85.2m in shares

In a recent development, Illumina's director Keith Meister sold shares worth $85.2 million spread over three days in late August 2026. The transactions took place between August 25 and August 27, with prices fluctuating between $224.72 and $231.23 per share. On August 25, Meister sold 130,019 shares; on August 26, he disposed of 106,543 shares; and on August 27, he sold 138,979 shares.

Despite the sales, Illumina shares have shown an impressive 80% return over the past year, according to InvestingPro data. Illumina's shares are currently trading near their 52-week high, though they are believed to be undervalued based on Fair Value metrics. Mr. Meister controls the general partner of Corvex Management LP, which holds shares for certain private investment funds.

Following these transactions, Meister indirectly holds 1,033,910 shares of Illumina common stock through the Corvex Funds. Illumina recently announced a $300 million note offering to refinance existing debt, which will be used to repay notes due in 2026. Analysts have adjusted their stock price targets following the company's recent second-quarter results, with some raising the price targets due to strong sequencer sales and performance exceeding expectations.