Recent stock activity
Illumina (ILMN) reached its 52-week high of $357.93 per share on August 31. The stock continued the upward trajectory it has been on recently. It has a 50-day moving average of $311.98 and a 200-day moving average of $265.95. The stock was trading at its 52-week low of $196 per share on September 28, 2017.
On August 28, Illumina’s MiSeqDx sequencing system received approval in China. The stock jumped ~1.7% on the day after the news but closed with a fall of ~0.10%. On August 16, ILMN stock fell ~2.1% in after-hours trading due to the news of the company’s plans to offer $650 million of convertible senior notes, which will be due by 2023. Illumina plans to use $150 million of this for stock repurchases.
Illumina reported its Q2 2018 earnings results on July 31, 2018. The results beat analysts’ estimates, and the company increased its full fiscal 2018 guidance. The results triggered a stock price rise of ~8.5% on the day. Triggered by positive investor sentiment, ILMN stock traded at its record high on July 31. Since then, ILMN stock has risen ~9.3%. Over the last 12 months, ILMN stock has risen ~73%. Year-to-date, it has risen ~58%.
Industry and market comparisons
Illumina’s stock performance has beaten the broader market and industry performances over the last one year. Wall Street analysts have been raising their target prices on the stock driven by strong quarterly performances, strategic acquisitions by the company, and a strong product portfolio and research pipeline. The S&P 500 Index and the US healthcare industry (XLV) have risen 17% and 13.8%, respectively, over the last year. Illumina also outperformed the US medical device sector (IHI), which has risen 32% over the last 12 months.
As of August 31, Illumina’s peers Boston Scientific (BSX), Thermo Fisher Scientific (TMO), and Edwards Lifesciences (EW) registered one-year stock price gains of ~29%, ~27.5%, and ~26.4%, respectively.