Illumina's CEO Was Just Ousted: Should Investors Buy In Now or Steer Clear?
On June 11, the gene sequencing giant Illumina (NASDAQ: ILMN) announced that its CEO, Francis deSouza, resigned after a tenure of roughly 10 years and that the company would start looking for a replacement. The market's reaction was muted, and it's unclear whether deSouza's as-yet-unknown successor will opt to take the business's strategy in another direction.
Still, over the last 10 years, the 201% total return of its shares lagged the market's return of 222%, so new leadership could bring a breath of fresh air for shareholders who are aching for growth. But it'll be hard for the company to make a clean break from its recent shambolic attempted acquisition of Grail, even with a new leader at the helm.
So should investors think about the possibility of greener pastures to come as part of a justification for a purchase of this stock, or take care to avoid the risk of its further dysfunction?
Source Fool.com
Illumina Inc. Stock
The stock is one of the favorites of our community with 32 Buy predictions and 4 Sell predictions.
As a result the target price of 160 € shows a positive potential of 34.54% compared to the current price of 118.92 € for Illumina Inc..
