Illumina, Inc. (ILMN) Updates FY17 Earnings Guidance
Illumina, Inc. (NASDAQ:ILMN) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.73-3.78 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.65. The company issued revenue guidance of +13% to ~$2.71 billion, compared to the consensus revenue estimate of $2.68 billion.
Several analysts recently issued reports on the stock. Janney Montgomery Scott raised shares of Illumina from a sell rating to a neutral rating in a report on Monday. Deutsche Bank AG raised shares of Illumina from a hold rating to a buy rating and cut their price target for the company from $195.00 to $160.00 in a report on Monday. Canaccord Genuity reaffirmed a buy rating and issued a $230.00 price target (up from $215.00) on shares of Illumina in a report on Thursday, October 12th. Piper Jaffray Companies reaffirmed an overweight rating and issued a $226.00 price target (up from $202.00) on shares of Illumina in a report on Monday, October 9th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a neutral rating and issued a $200.00 price target on shares of Illumina in a report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $189.71.
Shares of Illumina, Inc. (NASDAQ:ILMN) traded down 0.35% during trading on Tuesday, reaching $210.82. 1,696,899 shares of the company were exchanged. Illumina, Inc. has a 52-week low of $119.37 and a 52-week high of $214.50. The stock has a market capitalization of $30.78 billion, a P/E ratio of 42.30 and a beta of 0.76. The stock has a 50-day moving average of $205.87 and a 200 day moving average of $187.53.
Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Tuesday, August 1st. The life sciences company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $662.00 million during the quarter, compared to analysts’ expectations of $642.38 million. During the same period in the previous year, the business posted $0.86 earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities analysts anticipate that Illumina, Inc. will post $3.65 earnings per share for the current fiscal year.
In related news, SVP Oene Mark Van sold 9,729 shares of Illumina stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $211.33, for a total value of $2,056,029.57. Following the completion of the sale, the senior vice president now directly owns 24,908 shares in the company, valued at $5,263,807.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Charles Dadswell sold 145 shares of Illumina stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $205.71, for a total value of $29,827.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 182,766 shares of company stock valued at $36,411,334. Corporate insiders own 1.60% of the company’s stock.
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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