Illumina, Inc. (NASDAQ:ILMN) Expected to Announce Quarterly Sales of $1.04 Billion

Wall Street brokerages expect that Illumina, Inc. (NASDAQ:ILMN) will announce sales of $1.04 billion for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Illumina’s earnings. The lowest sales estimate is $1.03 billion and the highest is $1.05 billion. Illumina posted sales of $794.00 million during the same quarter last year, which suggests a positive year over year growth rate of 31%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 4th.

On average, analysts expect that Illumina will report full year sales of $4.33 billion for the current financial year, with estimates ranging from $4.30 billion to $4.37 billion. For the next year, analysts forecast that the business will post sales of $4.69 billion, with estimates ranging from $4.64 billion to $4.76 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Illumina.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, August 5th. The life sciences company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.36 by $0.51. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.01 billion. Illumina had a return on equity of 18.12% and a net margin of 19.36%. During the same quarter in the previous year, the company posted $0.62 earnings per share.

A number of research firms have recently issued reports on ILMN. Canaccord Genuity boosted their target price on Illumina from $515.00 to $555.00 and gave the company a “buy” rating in a report on Monday, August 9th. Robert W. Baird reissued a “hold” rating on shares of Illumina in a report on Sunday, August 22nd. Piper Sandler boosted their target price on Illumina from $510.00 to $560.00 and gave the company an “overweight” rating in a report on Friday, August 6th. Barclays boosted their target price on Illumina from $355.00 to $365.00 and gave the company an “underweight” rating in a report on Friday, August 6th. Finally, SVB Leerink downgraded Illumina from an “outperform” rating to a “market perform” rating and set a $425.00 price target on the stock. in a research note on Thursday, August 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Illumina has a consensus rating of “Hold” and an average price target of $432.83.

NASDAQ:ILMN opened at $434.59 on Thursday. The firm has a market cap of $63.75 billion, a P/E ratio of 83.25, a PEG ratio of 2.24 and a beta of 0.91. The company has a current ratio of 6.08, a quick ratio of 5.64 and a debt-to-equity ratio of 0.32. The stock’s 50 day simple moving average is $478.65 and its 200-day simple moving average is $439.44. Illumina has a 12-month low of $267.10 and a 12-month high of $555.77.

In other news, SVP Charles Dadswell sold 314 shares of the company’s stock in a transaction on Monday, August 23rd. The stock was sold at an average price of $489.10, for a total value of $153,577.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Susan H. Tousi sold 300 shares of the company’s stock in a transaction on Monday, August 30th. The shares were sold at an average price of $463.50, for a total value of $139,050.00. Following the completion of the sale, the senior vice president now owns 41,456 shares in the company, valued at $19,214,856. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,067 shares of company stock worth $1,491,077. 0.23% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. Activest Wealth Management purchased a new stake in shares of Illumina in the second quarter valued at $35,000. Parametric Portfolio Associates LLC lifted its position in shares of Illumina by 3.9% in the second quarter. Parametric Portfolio Associates LLC now owns 442,086 shares of the life sciences company’s stock valued at $209,199,000 after acquiring an additional 16,609 shares in the last quarter. Sawtooth Solutions LLC lifted its position in shares of Illumina by 26.2% in the second quarter. Sawtooth Solutions LLC now owns 736 shares of the life sciences company’s stock valued at $348,000 after acquiring an additional 153 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG increased its stake in Illumina by 15.3% in the second quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 32,724 shares of the life sciences company’s stock valued at $15,485,000 after purchasing an additional 4,332 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd increased its stake in Illumina by 164.1% in the second quarter. MARSHALL WACE ASIA Ltd now owns 200,287 shares of the life sciences company’s stock valued at $94,778,000 after purchasing an additional 124,454 shares during the last quarter. Institutional investors and hedge funds own 88.56% of the company’s stock.

About Illumina

Illumina, Inc engages in the development, manufacturing, and marketing of life science tools and integrated systems for large-scale analysis of genetic variation and function. It operates through Core Illumina segment, which serves customers in the research, clinical and applied markets, and enable the adoption of a variety of genomic solutions.

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Earnings History and Estimates for Illumina (NASDAQ:ILMN)

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