Illumina, Inc. Forecasted to Post FY2018 Earnings of $4.36 Per Share (ILMN)
Illumina, Inc. (NASDAQ:ILMN) – Investment analysts at William Blair lowered their FY2018 earnings per share estimates for shares of Illumina in a research report issued on Tuesday. William Blair analyst A. Murphy now expects that the life sciences company will earn $4.36 per share for the year, down from their previous estimate of $4.37.
Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Tuesday, August 1st. The life sciences company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.68 by $0.14. The company had revenue of $662 million during the quarter, compared to analysts’ expectations of $642.38 million. Illumina had a net margin of 30.27% and a return on equity of 19.69%. Illumina’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 earnings per share.
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A number of other equities research analysts have also recently commented on the stock. BidaskClub upgraded shares of Illumina from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Vetr upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $209.78 target price on the stock in a research note on Wednesday, August 9th. Barclays PLC restated an “equal weight” rating and set a $150.00 target price on shares of Illumina in a research note on Wednesday, August 9th. Zacks Investment Research cut shares of Illumina from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, First Analysis upgraded shares of Illumina from an “underweight” rating to an “equal weight” rating and set a $176.00 target price on the stock in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $177.01.
Shares of Illumina (NASDAQ ILMN) traded down 0.39% during trading on Wednesday, reaching $193.16. 412,965 shares of the company traded hands. The company’s 50-day moving average price is $180.27 and its 200-day moving average price is $174.41. The company has a market capitalization of $28.20 billion, a P/E ratio of 38.76 and a beta of 0.83. Illumina has a 52 week low of $119.37 and a 52 week high of $199.95.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jennison Associates LLC raised its position in Illumina by 69.0% in the first quarter. Jennison Associates LLC now owns 5,254,274 shares of the life sciences company’s stock valued at $896,589,000 after buying an additional 2,144,576 shares during the last quarter. Winslow Capital Management LLC purchased a new position in Illumina during the second quarter valued at approximately $211,584,000. HPM Partners LLC raised its position in Illumina by 29,103.8% in the second quarter. HPM Partners LLC now owns 751,999 shares of the life sciences company’s stock valued at $107,724,000 after buying an additional 749,424 shares during the last quarter. Fred Alger Management Inc. raised its position in Illumina by 611.9% in the second quarter. Fred Alger Management Inc. now owns 637,597 shares of the life sciences company’s stock valued at $110,636,000 after buying an additional 548,030 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in Illumina by 55.6% in the second quarter. TIAA CREF Investment Management LLC now owns 1,475,669 shares of the life sciences company’s stock valued at $256,058,000 after buying an additional 527,548 shares during the last quarter. 93.91% of the stock is owned by institutional investors.
In related news, Director Jay T. Flatley sold 20,000 shares of the firm’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $180.24, for a total value of $3,604,800.00. Following the completion of the transaction, the director now directly owns 539,176 shares of the company’s stock, valued at $97,181,082.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Charles Dadswell sold 1,609 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $197.00, for a total transaction of $316,973.00. Following the completion of the transaction, the senior vice president now directly owns 9,037 shares of the company’s stock, valued at $1,780,289. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,010 shares of company stock valued at $23,946,015. 1.60% of the stock is currently owned by insiders.
Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.
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