Illumina, Inc. (ILMN) Expected to Announce Quarterly Sales of $732.21 Million
Wall Street brokerages forecast that Illumina, Inc. (NASDAQ:ILMN) will post sales of $732.21 million for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Illumina’s earnings. The highest sales estimate is $741.30 million and the lowest is $715.70 million. Illumina posted sales of $619.35 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.2%. The firm is scheduled to announce its next earnings results on Tuesday, January 30th.
According to Zacks, analysts expect that Illumina will report full year sales of $732.21 million for the current financial year, with estimates ranging from $2.67 billion to $2.72 billion. For the next fiscal year, analysts anticipate that the company will post sales of $3.07 billion per share, with estimates ranging from $2.97 billion to $3.19 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Illumina.
Illumina (NASDAQ:ILMN) last issued its earnings results on Tuesday, October 24th. The life sciences company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.12. Illumina had a return on equity of 19.42% and a net margin of 30.34%. The business had revenue of $714.00 million during the quarter, compared to analysts’ expectations of $692.77 million. During the same quarter in the previous year, the business earned $0.97 EPS. The company’s revenue for the quarter was up 17.6% on a year-over-year basis.
A number of brokerages have recently issued reports on ILMN. Wells Fargo & Company reiterated a “market perform” rating and set a $205.00 target price (up previously from $200.00) on shares of Illumina in a report on Wednesday, October 25th. First Analysis upgraded Illumina from an “underweight” rating to an “equal weight” rating and set a $176.00 target price for the company in a report on Wednesday, August 2nd. Zacks Investment Research cut Illumina from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Barclays PLC reiterated an “equal weight” rating and set a $150.00 target price on shares of Illumina in a report on Wednesday, August 9th. Finally, Canaccord Genuity reiterated a “hold” rating and set a $170.00 target price on shares of Illumina in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $200.88.
Shares of Illumina (ILMN) opened at $213.99 on Friday. The company has a current ratio of 4.22, a quick ratio of 3.73 and a debt-to-equity ratio of 0.41. Illumina has a fifty-two week low of $119.37 and a fifty-two week high of $214.50. The stock has a market capitalization of $31,242.54, a PE ratio of 62.57, a PEG ratio of 3.53 and a beta of 0.74.
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In related news, SVP Charles Dadswell sold 145 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $205.71, for a total transaction of $29,827.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Omead Ostadan sold 1,671 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $195.26, for a total value of $326,279.46. Following the transaction, the executive vice president now owns 24,571 shares of the company’s stock, valued at $4,797,733.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,026 shares of company stock worth $34,234,070. Corporate insiders own 1.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC grew its stake in Illumina by 13.0% during the 2nd quarter. Advisory Services Network LLC now owns 772 shares of the life sciences company’s stock worth $134,000 after buying an additional 89 shares during the last quarter. Penserra Capital Management LLC grew its stake in Illumina by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 884 shares of the life sciences company’s stock worth $153,000 after buying an additional 102 shares during the last quarter. Dupont Capital Management Corp bought a new position in shares of Illumina in the third quarter worth $153,000. Paradigm Asset Management Co. LLC grew its stake in shares of Illumina by 5.6% in the second quarter. Paradigm Asset Management Co. LLC now owns 950 shares of the life sciences company’s stock worth $165,000 after purchasing an additional 50 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. grew its stake in shares of Illumina by 11.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 985 shares of the life sciences company’s stock worth $171,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 93.04% 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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