FY2024 EPS Estimates for Illumina Raised by Leerink Partnrs

Illumina, Inc. (NASDAQ:ILMN - Free Report) - Equities research analysts at Leerink Partnrs upped their FY2024 earnings per share estimates for shares of Illumina in a research report issued on Monday, November 4th. Leerink Partnrs analyst P. Souda now anticipates that the life sciences company will post earnings per share of $4.09 for the year, up from their prior estimate of $3.87. The consensus estimate for Illumina's current full-year earnings is $3.62 per share.

Illumina (NASDAQ:ILMN - Get Free Report) last announced its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.26. Illumina had a positive return on equity of 6.36% and a negative net margin of 36.10%. The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter last year, the business posted $0.33 earnings per share. The company's quarterly revenue was down 3.5% on a year-over-year basis.

A number of other analysts have also recently weighed in on ILMN. Barclays raised their target price on shares of Illumina from $135.00 to $145.00 and gave the stock an "equal weight" rating in a report on Tuesday. Piper Sandler reduced their price objective on Illumina from $200.00 to $195.00 and set an "overweight" rating for the company in a research note on Tuesday, August 13th. Robert W. Baird boosted their target price on Illumina from $124.00 to $139.00 and gave the stock a "neutral" rating in a research report on Wednesday. Canaccord Genuity Group upped their target price on Illumina from $130.00 to $145.00 and gave the company a "hold" rating in a report on Tuesday. Finally, Leerink Partners boosted their price objective on Illumina from $160.00 to $200.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $162.18.

Illumina Stock Performance

Shares of NASDAQ:ILMN traded down $3.13 during trading hours on Wednesday, hitting $151.83. 2,815,785 shares of the company's stock traded hands, compared to its average volume of 1,731,745. 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's fifty day simple moving average is $137.27 and its two-hundred day simple moving average is $123.12. Illumina has a 52 week low of $89.00 and a 52 week high of $156.66.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ILMN. First Trust Direct Indexing L.P. bought a new stake in Illumina during the 1st quarter valued at approximately $229,000. Norden Group LLC acquired a new stake in shares of Illumina in the first quarter worth $584,000. Private Advisor Group LLC increased its position in Illumina by 4.8% during the first quarter. Private Advisor Group LLC now owns 4,955 shares of the life sciences company's stock worth $679,000 after acquiring an additional 226 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Illumina by 41.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 3,070 shares of the life sciences company's stock valued at $422,000 after purchasing an additional 900 shares during the period. Finally, Nordea Investment Management AB grew its position in Illumina by 5.8% in the 1st quarter. Nordea Investment Management AB now owns 14,382 shares of the life sciences company's stock worth $1,981,000 after purchasing an additional 784 shares during the last quarter. Institutional investors own 89.42% of the company's stock.

About Illumina

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.