Illumina Inc. (NASDAQ: ILMN) stock fell -0.57% on Tuesday to $215.15 against a previous-day closing price of $216.38. With 1.0 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.29 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $217.98 whereas the lowest price it dropped to was $212.86. The 52-week range on ILMN shows that it touched its highest point at $371.16 and its lowest point at $173.45 during that stretch. It currently has a 1-year price target of $243.17. Beta for the stock currently stands at 1.13.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ILMN was up-trending over the past week, with a rise of 4.22%, but this was up by 8.96% over a month. Three-month performance dropped to -2.21% while six-month performance rose 7.84%. The stock lost -41.21% in the past year, while it has gained 6.40% so far this year. A look at the trailing 12-month EPS for ILMN yields -26.46 with Next year EPS estimates of 2.44. For the next quarter, that number is 0.26. This implies an EPS growth rate of 13.90% for this year and 7.39% for next year.
Float and Shares Shorts:
At present, 157.00 million ILMN shares are outstanding with a float of 156.75 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.98 million, which was 3.17% higher than short shares on Sep 14, 2022. In addition to Mr. Francis A. deSouza as the firm’s CEO & Director, Dr. Alexander Aravanis M.D., Ph.D. serves as its CTO & Head of Research and Product Devel.
Through their ownership of 88.49% of ILMN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 52.17% of ILMN, in contrast to 5.97% held by mutual funds. Shares owned by individuals account for 37.86%. As the largest shareholder in ILMN with 10.64% of the stake, Baillie Gifford & Co. holds 16,743,103 shares worth 16,743,103. A second-largest stockholder of ILMN, The Vanguard Group, Inc., holds 12,204,640 shares, controlling over 7.76% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ILMN, holding 7,875,617 shares or 5.01% stake. With a 3.04% stake in ILMN, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 4,785,825 shares are owned by the mutual fund manager. The Advisors Inner Circle – Edgewood, which owns about 2.58% of ILMN stock, is the second-largest Mutual Fund holder. It holds 4,053,567 shares valued at 819.63 million. Vanguard International Growth Fun holds 2.47% of the stake in ILMN, owning 3,890,075 shares worth 786.57 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ILMN since 22 analysts follow the stock currently. There are 8 analysts who recommend BUY ratings, while 4 suggest SELL ratings. Of the remaining analysts, 9 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ILMN analysts setting a high price target of $300.00 and a low target of $150.00, the average target price over the next 12 months is $242.78. Based on these targets, ILMN could surge 39.44% to reach the target high and fall by -30.28% to reach the target low. Reaching the average price target will result in a growth of 12.84% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ILMN will report FY 2022 earnings on 01/30/2024. Analysts have provided yearly estimates in a range of $2.65 being high and $1.89 being low. For ILMN, this leads to a yearly average estimate of $2.35. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Illumina Inc. surprised analysts by $0.05 when it reported $0.34 EPS against a consensus estimate of $0.29. The surprise factor in the prior quarter was -$0.05. Based on analyst estimates, the high estimate for the next quarter is $0.51 and the low estimate is -$0.09. The average estimate for the next quarter is thus $0.34.
Summary of Insider Activity:
Insiders traded ILMN stock several times over the past three months with 0 Buys and 17 Sells. In these transactions, 0 shares were bought while 12,423 shares were sold. The number of buy transactions has increased to 26 while that of sell transactions has risen to 46 over the past year. The total number of shares bought during that period was 73,250 while 38,883 shares were sold.