Research Analysts Set Expectations for Illumina, Inc.’s Q3 2024 Earnings (NASDAQ:ILMN)

Illumina, Inc. (NASDAQ:ILMN) – Equities researchers at Leerink Partnrs dropped their Q3 2024 earnings estimates for shares of Illumina in a note issued to investors on Friday, May 3rd. Leerink Partnrs analyst P. Souda now anticipates that the life sciences company will post earnings per share of $0.28 for the quarter, down from their previous estimate of $0.29. The consensus estimate for Illumina’s current full-year earnings is $0.91 per share. Leerink Partnrs also issued estimates for Illumina’s FY2024 earnings at $1.00 EPS and FY2025 earnings at $2.38 EPS.

ILMN has been the subject of several other research reports. Barclays raised their target price on shares of Illumina from $85.00 to $100.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. HSBC downgraded Illumina from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Royal Bank of Canada restated an “outperform” rating and issued a $253.00 price target on shares of Illumina in a research note on Tuesday, April 9th. OTR Global reiterated a “mixed” rating on shares of Illumina in a research report on Wednesday, March 20th. Finally, Robert W. Baird boosted their target price on shares of Illumina from $125.00 to $128.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $164.65.

Illumina Price Performance

Shares of NASDAQ ILMN opened at $112.82 on Monday. The stock has a fifty day moving average price of $129.13 and a 200 day moving average price of $126.95. Illumina has a 1-year low of $89.00 and a 1-year high of $213.91. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.36. The company has a market cap of $17.97 billion, a PE ratio of -13.84 and a beta of 1.20.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.05. Illumina had a positive return on equity of 2.31% and a negative net margin of 28.71%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the firm posted $0.08 EPS. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis.

Hedge Funds Weigh In On Illumina

Several institutional investors have recently added to or reduced their stakes in the business. WCM Investment Management LLC grew its holdings in Illumina by 2,232.3% in the 1st quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock valued at $463,760,000 after buying an additional 3,232,418 shares during the period. Vanguard Group Inc. increased its position in Illumina by 15.0% during the third quarter. Vanguard Group Inc. now owns 17,967,758 shares of the life sciences company’s stock worth $2,466,614,000 after purchasing an additional 2,336,935 shares during the last quarter. Capital World Investors purchased a new position in Illumina during the fourth quarter worth approximately $271,753,000. Norges Bank acquired a new position in shares of Illumina in the 4th quarter valued at $264,636,000. Finally, Barclays PLC grew its stake in shares of Illumina by 120.0% during the 3rd quarter. Barclays PLC now owns 1,768,355 shares of the life sciences company’s stock valued at $242,758,000 after buying an additional 964,709 shares during the period. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Jacob Thaysen acquired 7,330 shares of Illumina stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average price of $135.29 per share, with a total value of $991,675.70. Following the completion of the purchase, the chief executive officer now owns 14,861 shares of the company’s stock, valued at approximately $2,010,544.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.17% of the stock is owned by corporate insiders.

Illumina Company Profile

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.