Illumina Inc. (NASDAQ: ILMN) stock fell -2.56% on Monday to $142.41 against a previous-day closing price of $146.15. With 1.93 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.6 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $146.04 whereas the lowest price it dropped to was $142.02. The 52-week range on ILMN shows that it touched its highest point at $248.87 and its lowest point at $145.14 during that stretch. It currently has a 1-year price target of $213.06. 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 down-trending over the past week, with a drop of -7.97%, but this was down by -16.09% over a month. Three-month performance dropped to -30.83% while six-month performance fell -36.58%. The stock lost -29.49% in the past year, while it has lost -29.57% so far this year. A look at the trailing 12-month EPS for ILMN yields -26.65 with Next year EPS estimates of 2.32. For the next quarter, that number is 0.14. This implies an EPS growth rate of -655.90% for this year and 176.85% for next year. EPS is expected to decline by -6.47% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -46.50%.
Float and Shares Shorts:
At present, 158.00 million ILMN shares are outstanding with a float of 157.68 million shares on hand for trading. On Aug 30, 2023, short shares totaled 5.64 million, which was 3.56% higher than short shares on Jul 30, 2023. In addition to Dr. Joydeep Goswami M.B.A., Ph.D. as the firm’s CFO, Chief Strategy & Corp. Devel. Officer, Ms. Susan H. Tousi serves as its Chief Commercial Officer.
Other institutions hold 6.04% of ILMN, in contrast to 55.58% held by mutual funds. Shares owned by individuals account for 39.20%. As the largest shareholder in ILMN with 9.47% of the stake, The Vanguard Group, Inc. holds 14,983,141 shares worth 14,983,141. A second-largest stockholder of ILMN, Baillie Gifford & Co., holds 13,973,317 shares, controlling over 8.83% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ILMN, holding 8,826,798 shares or 5.58% stake. With a 3.11% stake in ILMN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 4,921,224 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.40% of ILMN stock, is the second-largest Mutual Fund holder. It holds 3,806,756 shares valued at 628.95 million. Vanguard International Growth Fun holds 2.04% of the stake in ILMN, owning 3,221,940 shares worth 532.33 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jul 01, 2023, ILMN reported revenue of $1.16B and operating income of $30.00M. The EBITDA in the recently reported quarter was $72.00M and diluted EPS was -$3.40.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ILMN since 0 analysts follow the stock currently. 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 $318.00 and a low target of $125.00, the average target price over the next 12 months is $213.46. Based on these targets, ILMN could surge 123.3% to reach the target high and fall by -12.23% to reach the target low. Reaching the average price target will result in a growth of 49.89% 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.
Summary of Insider Activity:
Insiders traded ILMN stock several times over the past three months with 1 Buys and 4 Sells. In these transactions, 103 shares were bought while 1,909 shares were sold. The number of buy transactions has increased to 34 while that of sell transactions has risen to 45 over the past year. The total number of shares bought during that period was 193,678 while 54,841 shares were sold.