FY2024 EPS Forecast for Illumina Increased by Analyst

Illumina, Inc. (NASDAQ:ILMNFree Report) – Investment analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for shares of Illumina in a research note issued to investors on Monday, November 4th. Leerink Partnrs analyst P. Souda now anticipates that the life sciences company will post earnings of $4.09 per share for the year, up from their previous estimate of $3.87. The consensus estimate for Illumina’s current full-year earnings is $3.62 per share.

Several other research analysts have also recently weighed in on the company. Piper Sandler lowered their target price on Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. StockNews.com assumed coverage on Illumina in a report on Thursday, August 29th. They set a “buy” rating on the stock. Argus upgraded Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Wednesday, August 28th. Royal Bank of Canada boosted their target price on Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Illumina has an average rating of “Moderate Buy” and an average price target of $162.18.

Read Our Latest Analysis on ILMN

Illumina Price Performance

NASDAQ:ILMN opened at $155.15 on Wednesday. Illumina has a 12 month low of $89.00 and a 12 month high of $156.66. The stock has a 50 day moving average of $137.27 and a two-hundred day moving average of $123.12. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. The firm has a market cap of $24.72 billion, a P/E ratio of -15.58 and a beta of 1.13.

Illumina (NASDAQ:ILMNGet Free Report) last posted its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping 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 company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business earned $0.33 EPS. Illumina’s quarterly revenue was down 3.5% on a year-over-year basis.

Institutional Trading of Illumina

A number of large investors have recently modified their holdings of ILMN. Primecap Management Co. CA increased its position in shares of Illumina by 462.5% during the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock worth $253,514,000 after acquiring an additional 1,997,010 shares during the period. Millennium Management LLC increased its position in shares of Illumina by 305.0% during the second quarter. Millennium Management LLC now owns 1,485,599 shares of the life sciences company’s stock worth $155,067,000 after acquiring an additional 1,118,747 shares during the period. Capital World Investors increased its position in shares of Illumina by 41.1% during the first quarter. Capital World Investors now owns 2,753,504 shares of the life sciences company’s stock worth $378,111,000 after acquiring an additional 801,814 shares during the period. Marshall Wace LLP purchased a new stake in shares of Illumina during the second quarter worth $77,628,000. Finally, Swedbank AB purchased a new stake in shares of Illumina during the first quarter worth $99,682,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

About Illumina

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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.

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Earnings History and Estimates for Illumina (NASDAQ:ILMN)

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