The Vanguard Group, Inc. has recently announced that it has increased stake in Illumina Inc (NASDAQ:ILMN) by 15.54%. After grabbing 17.31 million shares, the institutional investor is now in possession of 2.33 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 10.90% having worth around $1.76 billion. Moreover, BlackRock Fund Advisors increased its share by 2346.0 to have a control over 8.83 million shares. And Edgewood Management LLC raised its holdings to 1.0 million shares by acquiring 6.58 million shares or 4.14% of the stake.
Illumina Inc (ILMN) concluded trading on 12/21/23 at a closing price of $140.23, with 2.52 million shares of worth about $353.0 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -30.47% during that period and on Thursday the price saw a gain of about 2.43%. Currently the company’s common shares owned by public are about 158.80M shares, out of which, 158.13M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 25 analysts are covering the ILMN stock and their offered price forecasts bring an average price target of $137.91. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $258.00 and could fall to a lowest price of $50.00. The stock’s current price level is -1.68% below of average price target set by the analysts, while a dip to estimated low would result in loss of -180.46% for the stock. However, touching the estimated high of $258.00 would mean a gain of 45.65% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 77 times over the past 12 months. They bought 204,488 shares in 37 of the transactions. In 40 selling transactions, insiders dumped 53,398 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Illumina Inc Vanguard Total Stock Market ETF is currently holding 4.96 million shares of worth totaling $505.95 million. The company recently came buying 28817.0 shares which brought its stake up to 3.13% of the company’s outstanding shares. Vanguard 500 Index Fund bought 16715.0 shares, after which its hold over company’s outstanding shares expand to 2.41%, leaving 3.82 million shares with the mutual fund that have a worth of about $389.56 million. Vanguard Mid Cap Index Fund, after buying 3.6 million shares, have now control over 2.26% of the stake in the company. It holds 9614.0 shares of worth $366.55 million.
Illumina Inc (NASDAQ: ILMN) started trading at $139.12, above $2.22 from concluding price of the previous day. However, the stock later moved at a day high price of 143.93, or with a gain of 2.43%. Stock saw a price change of 6.65% in past 5 days and over the past one month there was a price change of 46.12%. Year-to-date (YTD), ILMN shares are showing a performance of -30.65% which decreased to -26.76% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $89.00 but also hit the highest price of $238.55 during that period. The average intraday trading volume for Illumina Inc shares is 2.61 million. The stock is currently trading 22.11% above its 20-day simple moving average (SMA20), while that difference is up 23.83% for SMA50 and it goes to -17.80% lower than SMA200.
The Vanguard Group, Inc. acquired 17.31 million shares of Illumina Inc having value of about $1.76 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 2.33 million shares in the company valued at close to $326463713.57, or have control over 15.54% stake in the company. Illumina Inc (NASDAQ: ILMN) currently have 158.80M outstanding shares and institutions hold larger chunk of about 88.98% of that. Holding of mutual funds in the company is about 54.95% while other institutional holders and individual stake holders have control over 6.02% and 35.72% of the stake respectively.
The stock has a current market capitalization of $22.27B and its 3Y-monthly beta is at 1.13. It has posted earnings per share of -$7.12 in the same period. It has Quick Ratio of 1.28 while making debt-to-equity ratio of 0.39. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ILMN, volatility over the week remained 5.37% while standing at 4.93% over the month.
Analysts are in expectations that Illumina Inc (ILMN) stock would likely to be making an EPS of -$0.07 in the current quarter, while forecast for next quarter EPS is $0.06 and it is $0.86 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.11 which is -$0.01 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.14 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -67.88% while it is estimated to increase by 37.64% in next year.
Analysts at 25 brokerage firms have issued recommendations for the Illumina Inc (ILMN)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.16. Out of those 25 Wall Street analysts, 13 recommended a “Buy” rating, while 9 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Scotiabank on December 18, 2023 offering a Sector outperform rating for the stock and assigned a target price of $185 to it.
