Illumina, Inc. (NASDAQ:ILMN) Forecasted to Earn Q2 2021 Earnings of $1.40 Per Share

Illumina, Inc. (NASDAQ:ILMN) – Analysts at SVB Leerink increased their Q2 2021 earnings estimates for shares of Illumina in a note issued to investors on Monday, July 19th. SVB Leerink analyst P. Souda now forecasts that the life sciences company will post earnings of $1.40 per share for the quarter, up from their previous forecast of $1.32. SVB Leerink also issued estimates for Illumina’s Q4 2021 earnings at $1.38 EPS, FY2021 earnings at $6.05 EPS, Q1 2022 earnings at $1.27 EPS, Q2 2022 earnings at $1.17 EPS, Q3 2022 earnings at $1.34 EPS and FY2022 earnings at $5.31 EPS.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Tuesday, April 27th. The life sciences company reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.53. Illumina had a return on equity of 14.81% and a net margin of 18.14%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the company posted $1.64 earnings per share.

Other research analysts also recently issued reports about the company. Barclays upped their target price on Illumina from $300.00 to $355.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 13th. Atlantic Securities downgraded Illumina from an “overweight” rating to a “neutral” rating and set a $390.00 target price for the company. in a research note on Wednesday, March 31st. Zacks Investment Research raised Illumina from a “hold” rating to a “buy” rating and set a $504.00 target price for the company in a research note on Wednesday, June 30th. Wells Fargo & Company upped their target price on Illumina from $330.00 to $340.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 28th. Finally, Canaccord Genuity upped their target price on Illumina from $460.00 to $470.00 and gave the stock a “buy” rating in a research note on Wednesday, April 28th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. Illumina presently has a consensus rating of “Hold” and an average target price of $382.89.

Shares of ILMN stock opened at $480.85 on Tuesday. The company has a current ratio of 4.45, a quick ratio of 4.16 and a debt-to-equity ratio of 0.34. The firm has a market cap of $70.20 billion, a P/E ratio of 112.35 and a beta of 0.95. The stock’s 50 day simple moving average is $442.12. Illumina has a 1-year low of $260.42 and a 1-year high of $555.77.

Large investors have recently modified their holdings of the business. Pitcairn Co. grew its holdings in shares of Illumina by 1.9% during the 1st quarter. Pitcairn Co. now owns 3,199 shares of the life sciences company’s stock worth $1,229,000 after purchasing an additional 60 shares during the period. FIL Ltd grew its holdings in shares of Illumina by 552.4% during the 1st quarter. FIL Ltd now owns 3,438 shares of the life sciences company’s stock worth $1,320,000 after purchasing an additional 2,911 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Illumina by 15.1% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 48,289 shares of the life sciences company’s stock worth $18,546,000 after purchasing an additional 6,321 shares during the period. Teza Capital Management LLC grew its holdings in shares of Illumina by 1,307.6% during the 1st quarter. Teza Capital Management LLC now owns 8,868 shares of the life sciences company’s stock worth $3,406,000 after purchasing an additional 8,238 shares during the period. Finally, Shell Asset Management Co. grew its holdings in shares of Illumina by 3.1% during the 1st quarter. Shell Asset Management Co. now owns 19,122 shares of the life sciences company’s stock worth $7,344,000 after purchasing an additional 576 shares during the period. Institutional investors own 89.33% of the company’s stock.

In other Illumina news, Director Jay T. Flatley sold 4,000 shares of the company’s stock in a transaction on Tuesday, May 4th. The stock was sold at an average price of $384.15, for a total value of $1,536,600.00. Following the completion of the sale, the director now directly owns 152,933 shares in the company, valued at approximately $58,749,211.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Susan H. Tousi sold 300 shares of the company’s stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $381.88, for a total value of $114,564.00. Following the completion of the sale, the senior vice president now owns 43,843 shares of the company’s stock, valued at $16,742,764.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,953 shares of company stock valued at $4,362,737. 0.23% of the stock is owned by company insiders.

About Illumina

Illumina, Inc provides sequencing and array-based solutions for genetic and genomic analysis. Its products and services serve customers in a range of markets enabling the adoption of genomic solutions in research and clinical settings for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments.

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Earnings History and Estimates for Illumina (NASDAQ:ILMN)

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