Illumina, Inc. to Post FY2024 Earnings of $3.86 Per Share, Leerink Partnrs Forecasts (NASDAQ:ILMN)

Illumina, Inc. (NASDAQ:ILMN) – Research analysts at Leerink Partnrs lifted their FY2024 earnings estimates for shares of Illumina in a research report issued on Tuesday, September 17th. Leerink Partnrs analyst P. Souda now anticipates that the life sciences company will post earnings of $3.86 per share for the year, up from their previous estimate of $3.84. The consensus estimate for Illumina’s current full-year earnings is $3.62 per share. Leerink Partnrs also issued estimates for Illumina’s Q4 2024 earnings at $0.92 EPS, Q1 2025 earnings at $0.95 EPS, Q2 2025 earnings at $1.07 EPS, Q4 2025 earnings at $1.25 EPS and FY2026 earnings at $5.30 EPS.

A number of other research firms also recently commented on ILMN. Stephens restated an “overweight” rating and set a $170.00 price target on shares of Illumina in a research report on Wednesday, July 10th. Robert W. Baird lifted their price target on shares of Illumina from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. UBS Group increased their target price on Illumina from $131.00 to $133.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. TD Cowen raised Illumina from a “hold” rating to a “buy” rating and lifted their target price for the company from $126.00 to $144.00 in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $242.00 price objective on shares of Illumina in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $151.05.

Illumina Trading Down 2.4 %

NASDAQ ILMN opened at $131.20 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11. The company has a 50-day simple moving average of $125.25 and a 200-day simple moving average of $120.67. The firm has a market capitalization of $20.90 billion, a PE ratio of -16.10 and a beta of 1.15. Illumina has a one year low of $89.00 and a one year high of $148.19.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.12 by $0.24. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the business posted $0.32 EPS. The company’s quarterly revenue was down 5.4% on a year-over-year basis.

Hedge Funds Weigh In On Illumina

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Illumina by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 18,245,041 shares of the life sciences company’s stock valued at $2,505,409,000 after purchasing an additional 66,528 shares in the last quarter. Edgewood Management LLC boosted its stake in Illumina by 4.6% during the fourth quarter. Edgewood Management LLC now owns 6,878,495 shares of the life sciences company’s stock worth $957,762,000 after acquiring an additional 302,222 shares in the last quarter. Baillie Gifford & Co. grew its holdings in Illumina by 8.7% in the first quarter. Baillie Gifford & Co. now owns 5,736,418 shares of the life sciences company’s stock worth $787,725,000 after purchasing an additional 460,649 shares during the period. WCM Investment Management LLC grew its holdings in Illumina by 2,232.3% in the first quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock worth $463,760,000 after purchasing an additional 3,232,418 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Illumina by 7.2% in the second quarter. Bank of New York Mellon Corp now owns 3,039,538 shares of the life sciences company’s stock valued at $317,267,000 after purchasing an additional 204,043 shares in the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Illumina Company Profile

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.