$693.98 Million in Sales Expected for Illumina, Inc. (ILMN) This Quarter
Analysts expect that Illumina, Inc. (NASDAQ:ILMN) will post $693.98 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Illumina’s earnings, with the lowest sales estimate coming in at $688.87 million and the highest estimate coming in at $701.59 million. Illumina reported sales of $607.14 million during the same quarter last year, which suggests a positive year-over-year growth rate of 14.3%. The company is scheduled to report its next quarterly earnings results after the market closes on Tuesday, October 24th.
According to Zacks, analysts expect that Illumina will report full-year sales of $693.98 million for the current year, with estimates ranging from $2.67 billion to $2.70 billion. For the next year, analysts expect that the company will report sales of $3.06 billion per share, with estimates ranging from $2.94 billion to $3.18 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Illumina.
Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, August 1st. The life sciences company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. The company had revenue of $662.00 million for 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%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS.
Several equities research analysts have recently weighed in on ILMN shares. Deutsche Bank AG set a $175.00 target price on shares of Illumina and gave the company a “hold” rating in a research note on Friday, July 28th. Canaccord Genuity raised shares of Illumina from a “hold” rating to a “buy” rating and increased their target price for the company from $170.00 to $215.00 in a research note on Monday, August 7th. Morgan Stanley reissued an “underweight” rating and issued a $122.00 target price (up previously from $115.00) on shares of Illumina in a research note on Monday, July 10th. Vetr downgraded shares of Illumina from a “strong-buy” rating to a “buy” rating and set a $197.84 target price on the stock. in a research note on Wednesday, June 21st. Finally, Barclays PLC reissued a “hold” rating and issued a $150.00 target price on shares of Illumina in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $190.50.
Illumina (NASDAQ:ILMN) opened at 206.23 on Tuesday. The company has a 50-day moving average of $204.85 and a 200-day moving average of $185.92. Illumina has a 12 month low of $119.37 and a 12 month high of $214.34. The stock has a market cap of $30.11 billion, a PE ratio of 41.38 and a beta of 0.76.
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In other Illumina news, insider Michel Bouchard sold 3,131 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $194.97, for a total transaction of $610,451.07. Following the transaction, the insider now directly owns 15,777 shares in the company, valued at approximately $3,076,041.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jay T. Flatley sold 20,000 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $176.43, for a total transaction of $3,528,600.00. Following the transaction, the director now owns 534,176 shares in the company, valued at $94,244,671.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,766 shares of company stock worth $36,411,334. 1.60% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC boosted its holdings in shares of Illumina by 5.6% in the 2nd quarter. Paradigm Asset Management Co. LLC now owns 950 shares of the life sciences company’s stock valued at $165,000 after buying an additional 50 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Illumina by 1.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,126 shares of the life sciences company’s stock valued at $528,000 after buying an additional 43 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Illumina by 298.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 10,447 shares of the life sciences company’s stock valued at $1,813,000 after buying an additional 7,827 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Illumina in the 2nd quarter valued at about $27,175,000. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Illumina by 0.5% in the 2nd quarter. Stephens Investment Management Group LLC now owns 168,706 shares of the life sciences company’s stock valued at $29,274,000 after buying an additional 803 shares in the last quarter. Institutional investors and hedge funds own 93.32% of the company’s stock.
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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