Q3 2017 Earnings Forecast for Illumina, Inc. (ILMN) Issued By Leerink Swann
Illumina, Inc. (NASDAQ:ILMN) – Research analysts at Leerink Swann upped their Q3 2017 earnings estimates for Illumina in a report released on Tuesday. Leerink Swann analyst P. Souda now forecasts that the life sciences company will earn $1.01 per share for the quarter, up from their prior estimate of $0.99. Leerink Swann has a “Outperform” rating and a $225.00 price target on the stock.
A number of other brokerages also recently issued reports on ILMN. Argus lifted their price target on shares of Illumina from $205.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday. Vetr downgraded shares of Illumina from a “buy” rating to a “hold” rating and set a $209.78 price target for the company. in a research note on Thursday, August 31st. Zacks Investment Research downgraded shares of Illumina from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Barclays PLC reiterated an “equal weight” rating and issued a $150.00 price target on shares of Illumina in a research note on Wednesday, August 9th. Finally, Canaccord Genuity upgraded shares of Illumina from a “hold” rating to a “buy” rating and lifted their price target for the stock from $170.00 to $215.00 in a research note on Monday, August 7th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $181.76.
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Shares of Illumina (NASDAQ:ILMN) opened at 213.43 on Thursday. The stock has a market cap of $31.16 billion, a PE ratio of 42.82 and a beta of 0.81. The company’s 50-day moving average is $194.72 and its 200-day moving average is $179.64. Illumina has a 52-week low of $119.37 and a 52-week high of $214.34.
Illumina (NASDAQ:ILMN) last posted its earnings results on Tuesday, August 1st. The life sciences company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.14. Illumina had a net margin of 30.27% and a return on equity of 19.69%. The company had revenue of $662.00 million during the quarter, compared to analysts’ expectations of $642.38 million. During the same quarter in the prior year, the company posted $0.86 earnings per share. Illumina’s revenue for the quarter was up 10.3% compared to the same quarter last year.
In other news, SVP Mostafa Ronaghi sold 20,000 shares of Illumina stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $210.00, for a total value of $4,200,000.00. Following the transaction, the senior vice president now directly owns 86,725 shares of the company’s stock, valued at approximately $18,212,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jay T. Flatley sold 15,000 shares of Illumina stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $170.77, for a total transaction of $2,561,550.00. Following the completion of the transaction, the director now directly owns 534,176 shares in the company, valued at $91,221,235.52. The disclosure for this sale can be found here. Insiders sold a total of 165,705 shares of company stock worth $31,202,418 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in ILMN. Winslow Capital Management LLC acquired a new position in Illumina in the 2nd quarter valued at $211,584,000. HPM Partners LLC increased its stake in Illumina by 29,103.8% in the 2nd 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 period. Fred Alger Management Inc. increased its stake in Illumina by 611.9% in the 2nd 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 period. TIAA CREF Investment Management LLC increased its stake in Illumina by 55.6% in the 2nd 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 period. Finally, Capital World Investors increased its stake in Illumina by 23.8% in the 2nd quarter. Capital World Investors now owns 2,135,000 shares of the life sciences company’s stock valued at $370,465,000 after buying an additional 410,000 shares during the period. 93.34% of the stock is currently owned by institutional investors.
Illumina Company Profile
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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