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

Illumina, Inc. (NASDAQ:ILMN) – Investment analysts at Leerink Partnrs lifted their FY2024 earnings per share estimates for Illumina in a research report issued to clients and investors on Tuesday, September 17th. Leerink Partnrs analyst P. Souda now forecasts that the life sciences company will post earnings of $3.86 per share for the year, up from their previous forecast 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.

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

A number of other equities research analysts have also recently issued reports on the stock. Argus raised shares of 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. JPMorgan Chase & Co. dropped their price objective on Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Jefferies Financial Group assumed coverage on Illumina in a report on Monday, June 3rd. They set a “hold” rating and a $115.00 target price for the company. Stephens reissued an “overweight” rating and issued a $170.00 price target on shares of Illumina in a report on Wednesday, July 10th. Finally, Barclays upgraded shares of Illumina from an “underweight” rating to an “equal weight” rating and set a $125.00 price objective for the company in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $151.05.

Illumina Stock Performance

NASDAQ ILMN opened at $131.20 on Thursday. The firm has a market cap of $20.90 billion, a P/E ratio of -16.10 and a beta of 1.15. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04. The company’s 50 day moving average is $125.25 and its 200-day moving average is $120.67. Illumina has a 12-month low of $89.00 and a 12-month high of $148.19.

Institutional Trading of Illumina

A number of institutional investors have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. grew its stake in Illumina by 426.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock worth $2,123,000 after acquiring an additional 12,521 shares in the last quarter. Findlay Park Partners LLP purchased a new stake in shares of Illumina in the 1st quarter worth $100,120,000. Jupiter Asset Management Ltd. bought a new position in shares of Illumina during the 1st quarter worth $4,527,000. Norges Bank purchased a new position in shares of Illumina during the fourth quarter valued at $264,636,000. Finally, US Bancorp DE raised its holdings in shares of Illumina by 33.9% in the first quarter. US Bancorp DE now owns 31,600 shares of the life sciences company’s stock valued at $4,339,000 after acquiring an additional 8,001 shares in the last quarter. 89.42% of the stock is currently owned by institutional investors.

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.