Illumina FY2024 EPS Forecast Increased by Leerink Partnrs

Illumina, Inc. (NASDAQ:ILMN) – Investment analysts at Leerink Partnrs upped their FY2024 earnings per share estimates for shares of Illumina in a research note issued to investors on Tuesday, January 21st. Leerink Partnrs analyst P. Souda now anticipates that the life sciences company will earn $4.11 per share for the year, up from their previous estimate of $4.09. The consensus estimate for Illumina’s current full-year earnings is $4.13 per share. Leerink Partnrs also issued estimates for Illumina’s Q4 2024 earnings at $0.91 EPS, Q1 2025 earnings at $0.88 EPS, Q3 2025 earnings at $1.18 EPS and FY2025 earnings at $4.30 EPS.

A number of other equities analysts have also recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of Illumina from $156.00 to $150.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. UBS Group upped their price objective on shares of Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Stephens upped their price objective on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price objective on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Leerink Partners upped their price objective on shares of Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.63.

Illumina Stock Performance

NASDAQ:ILMN opened at $134.76 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The firm has a 50-day moving average of $139.06 and a two-hundred day moving average of $134.26. The stock has a market cap of $21.37 billion, a P/E ratio of -13.53 and a beta of 1.11. Illumina has a 1-year low of $100.08 and a 1-year high of $156.66.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned $0.33 EPS. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year.

Hedge Funds Weigh In On Illumina

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc lifted its holdings in Illumina by 153.7% in the fourth quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after acquiring an additional 146 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Illumina by 58.5% in the third quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock valued at $50,000 after purchasing an additional 141 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of Illumina by 65.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock valued at $56,000 after purchasing an additional 168 shares during the period. Private Trust Co. NA increased its stake in shares of Illumina by 81.2% in the third quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock valued at $62,000 after purchasing an additional 212 shares during the period. Finally, Focused Wealth Management Inc acquired a new stake in shares of Illumina in the third quarter valued at approximately $63,000. Institutional investors 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.