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.

COPYRIGHT VIOLATION WARNING: “$692.05 Million in Sales Expected for Illumina, Inc. (ILMN) This Quarter” was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/22/692-05-million-in-sales-expected-for-illumina-inc-ilmn-this-quarter.html.

About Illumina

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.

Get a free copy of the Zacks research report on Illumina (ILMN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Illumina (NASDAQ:ILMN)

Receive News & Ratings for Illumina Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illumina Inc. and related companies with MarketBeat.com's FREE daily email newsletter.