$692.05 Million in Sales Expected for Illumina, Inc. (ILMN) This Quarter
Equities analysts expect Illumina, Inc. (NASDAQ:ILMN) to report sales of $692.05 million for the current quarter, Zacks reports. Six analysts have made estimates for Illumina’s earnings, with the highest sales estimate coming in at $701.59 million and the lowest estimate coming in at $680.38 million. Illumina posted sales of $607.14 million in the same quarter last year, which suggests a positive year over year growth rate of 14%. The company is expected to issue its next earnings report on Tuesday, November 7th.
On average, analysts expect that Illumina will report full-year sales of $692.05 million for the current year, with estimates ranging from $2.65 billion to $2.70 billion. For the next financial year, analysts anticipate that the business will post sales of $3.05 billion per share, with estimates ranging from $2.94 billion to $3.18 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Illumina.
Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Tuesday, August 1st. The life sciences company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.14. Illumina had a return on equity of 19.69% and a net margin of 30.27%. The firm had revenue of $662 million during the quarter, compared to the consensus estimate of $642.38 million. During the same quarter in the previous year, the company posted $0.86 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis.
A number of research firms recently issued reports on ILMN. Vetr cut Illumina from a “strong-buy” rating to a “buy” rating and set a $197.84 price objective for the company. in a report on Wednesday, June 21st. Zacks Investment Research raised Illumina from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research report on Thursday, July 27th. Canaccord Genuity raised Illumina from a “hold” rating to a “buy” rating and boosted their price target for the stock from $170.00 to $215.00 in a research report on Monday, August 7th. First Analysis raised Illumina from an “underweight” rating to an “equal weight” rating and set a $176.00 price target for the company in a research report on Wednesday, August 2nd. Finally, Barclays PLC reissued an “equal weight” rating and issued a $150.00 price target on shares of Illumina in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. Illumina has an average rating of “Hold” and an average target price of $177.01.
In other Illumina news, EVP Omead Ostadan sold 1,672 shares of the firm’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $172.73, for a total value of $288,804.56. Following the sale, the executive vice president now directly owns 26,242 shares in the company, valued at $4,532,780.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Charles Dadswell sold 145 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $184.75, for a total value of $26,788.75. Following the completion of the sale, the senior vice president now owns 10,791 shares in the company, valued at $1,993,637.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 139,010 shares of company stock worth $25,207,665. 1.60% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC boosted its stake 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 worth $896,589,000 after buying an additional 2,144,576 shares in the last quarter. Winslow Capital Management LLC purchased a new stake in Illumina during the second quarter worth approximately $211,584,000. HPM Partners LLC boosted its stake 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 worth $107,724,000 after buying an additional 749,424 shares during the period. Fred Alger Management Inc. boosted its stake 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 worth $110,636,000 after buying an additional 548,030 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake 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 worth $256,058,000 after buying an additional 527,548 shares during the period. Institutional investors own 93.91% of the company’s stock.
Shares of Illumina (NASDAQ ILMN) traded up 1.387% during mid-day trading on Tuesday, reaching $193.325. The company’s stock had a trading volume of 153,125 shares. The company has a market cap of $28.23 billion, a PE ratio of 38.789 and a beta of 0.83. Illumina has a 52-week low of $119.37 and a 52-week high of $199.95. The company has a 50-day moving average price of $181.92 and a 200 day moving average price of $175.29.
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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