Q4 Earnings Forecast for Illumina Issued By Leerink Partnrs

Illumina, Inc. (NASDAQ:ILMN - Free Report) - Research analysts at Leerink Partnrs reduced their Q4 2024 earnings per share (EPS) estimates for Illumina in a report released on Monday, November 4th. Leerink Partnrs analyst P. Souda now forecasts that the life sciences company will post earnings per share of $0.89 for the quarter, down from their prior estimate of $0.93. The consensus estimate for Illumina's current full-year earnings is $3.62 per share. Leerink Partnrs also issued estimates for Illumina's Q1 2025 earnings at $0.84 EPS, Q2 2025 earnings at $0.97 EPS, Q3 2025 earnings at $1.08 EPS, Q4 2025 earnings at $1.25 EPS, FY2025 earnings at $4.14 EPS and FY2026 earnings at $4.92 EPS.

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, topping analysts' consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Illumina had a positive return on equity of 6.36% and a negative net margin of 36.10%. The company's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS.

A number of other brokerages have also commented on ILMN. TD Cowen increased their price target on shares of Illumina from $166.00 to $177.00 and gave the stock a "buy" rating in a report on Tuesday. Stephens reissued an "overweight" rating and issued a $170.00 target price on shares of Illumina in a research note on Wednesday, July 10th. Canaccord Genuity Group lifted their price target on Illumina from $130.00 to $145.00 and gave the stock a "hold" rating in a research note on Tuesday. Citigroup increased their price objective on Illumina from $155.00 to $190.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Piper Sandler dropped their target price on Illumina from $200.00 to $195.00 and set an "overweight" rating for the company in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $162.18.

Illumina Price Performance

ILMN traded up $3.32 on Thursday, reaching $155.15. The company had a trading volume of 2,162,717 shares, compared to its average volume of 2,008,265. Illumina has a 52-week low of $89.00 and a 52-week high of $156.66. The company has a market cap of $24.72 billion, a price-to-earnings ratio of -15.58 and a beta of 1.13. 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 business has a 50 day simple moving average of $137.27 and a 200 day simple moving average of $123.12.

Hedge Funds Weigh In On Illumina

Hedge funds have recently made changes to their positions in the business. First Trust Direct Indexing L.P. purchased a new stake in shares of Illumina in the 1st quarter worth about $229,000. Norden Group LLC bought a new stake in Illumina during the 1st quarter valued at approximately $584,000. Private Advisor Group LLC boosted its position in Illumina by 4.8% during the 1st quarter. Private Advisor Group LLC now owns 4,955 shares of the life sciences company's stock valued at $679,000 after acquiring an additional 226 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Illumina by 41.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,070 shares of the life sciences company's stock worth $422,000 after acquiring an additional 900 shares during the period. Finally, Nordea Investment Management AB raised its position in shares of 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 acquiring an additional 784 shares in the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.

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.