Illumina, Inc. (ILMN) Releases Earnings Results, Beats Expectations By $0.12 EPS
Illumina, Inc. (NASDAQ:ILMN) issued its quarterly earnings data on Tuesday. The life sciences company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.12, Bloomberg Earnings reports. The business had revenue of $714.00 million during the quarter, compared to analysts’ expectations of $692.77 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 17.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 earnings per share. Illumina updated its FY17 guidance to $3.73-3.78 EPS.
Illumina (NASDAQ:ILMN) traded down 0.35% during midday trading on Tuesday, hitting $210.82. 1,704,447 shares of the stock traded hands. Illumina has a 12-month low of $119.37 and a 12-month high of $214.50. The firm’s 50 day moving average is $206.01 and its 200-day moving average is $187.81. The stock has a market capitalization of $30.78 billion, a PE ratio of 42.30 and a beta of 0.76.
Several research firms recently commented on ILMN. Barclays PLC reiterated an “equal weight” rating and set a $150.00 target price on shares of Illumina in a research note on Wednesday, August 9th. Vetr upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $209.78 target price for the company in a research note on Wednesday, August 9th. BidaskClub upgraded shares of Illumina from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Cowen and Company reiterated an “outperform” rating and set a $200.00 target price on shares of Illumina in a research note on Wednesday, August 2nd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $200.00 target price on shares of Illumina in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $189.71.
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In related news, SVP Oene Mark Van sold 1,250 shares of the business’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $207.21, for a total value of $259,012.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay T. Flatley sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $211.11, for a total value of $4,222,200.00. Following the completion of the transaction, the director now directly owns 539,176 shares of the company’s stock, valued at approximately $113,825,445.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 182,766 shares of company stock valued at $36,411,334. 1.60% of the stock is 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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