Illumina Stock Surges – Will the Momentum Persist?

This afternoon we watched Illumina rise 11.2% to a price of $118.7 per share. The Large-Cap Medical Specialities company is now trading -20.19% below its average target price of $148.73. Analysts have set target prices ranging from $100.0 to $253.0 per share for Illumina, and have given the stock an average rating of buy.

Illumina's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 3.8%. The stock's short ratio is 3.33. The company's insiders own 0.27% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.

Another number to watch is the company's rate of institutional share ownership, which now stands at 95.6%. In conclusion, we believe there is mixed market sentiment regarding Illumina.

Institutions Invested in Illumina

Date Reported Holder Percentage Shares Value
2024-03-31 Vanguard Group Inc 11% 18,245,041 $2,165,713,733
2024-03-31 Blackrock Inc. 9% 13,811,060 $1,639,393,537
2024-03-31 State Street Corporation 4% 6,812,291 $808,629,159
2024-03-31 Edgewood Management Llc 4% 6,655,749 $790,047,389
2024-03-31 Baillie Gifford and Company 4% 5,736,418 $680,921,420
2024-03-31 Loomis Sayles & Company, LP 3% 4,412,277 $523,743,898
2024-03-31 Geode Capital Management, LLC 2% 3,749,045 $445,017,264
2024-03-31 Janus Henderson Group PLC 2% 3,684,585 $437,365,766
2024-03-31 Morgan Stanley 2% 3,607,967 $428,271,094
2024-03-31 WCM Investment Management, LLC 2% 3,377,221 $400,881,198
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.