Research Analysts Set Expectations for Illumina Inc.’s FY2017 Earnings (ILMN)
Illumina Inc. (NASDAQ:ILMN) – Equities researchers at Cantor Fitzgerald reduced their FY2017 earnings estimates for shares of Illumina in a research note issued on Wednesday. Cantor Fitzgerald analyst B. Brokmeier now expects that the firm will post earnings of $4.00 per share for the year, down from their previous estimate of $4.20. Cantor Fitzgerald has a “Hold” rating and a $155.00 price objective on the stock.
A number of other analysts also recently weighed in on ILMN. CL King assumed coverage on Illumina in a report on Tuesday, June 21st. They issued a “buy” rating and a $165.00 price objective for the company. Zacks Investment Research raised shares of Illumina from a “sell” rating to a “hold” rating in a research report on Monday, July 4th. Morgan Stanley cut shares of Illumina from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $130.00 to $110.00 in a research report on Tuesday, July 5th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $161.00 price target on shares of Illumina in a research report on Friday, July 15th. Finally, Vetr cut shares of Illumina from a “strong-buy” rating to a “buy” rating and set a $167.08 price target on the stock. in a research report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $156.88.
Illumina (NASDAQ:ILMN) traded up 0.61% during mid-day trading on Thursday, hitting $138.00. The company had a trading volume of 1,468,694 shares. Illumina has a 12-month low of $127.10 and a 12-month high of $196.47. The company’s 50 day moving average price is $171.14 and its 200-day moving average price is $156.05. The firm has a market capitalization of $20.23 billion, a PE ratio of 47.26 and a beta of 0.47.
Illumina (NASDAQ:ILMN) last released its earnings results on Tuesday, July 26th. The life sciences company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $600 million for the quarter, compared to the consensus estimate of $31.91 million. Illumina had a return on equity of 23.69% and a net margin of 18.73%. Illumina’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 earnings per share.
In other news, Director Jay T. Flatley sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $172.99, for a total value of $3,459,800.00. Following the transaction, the director now owns 508,061 shares in the company, valued at $87,889,472.39. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jay T. Flatley sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the director now owns 498,061 shares in the company, valued at approximately $74,709,150. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Research Global Investors increased its position in shares of Illumina by 17.1% in the second quarter. Capital Research Global Investors now owns 13,085,071 shares of the life sciences company’s stock valued at $1,836,882,000 after buying an additional 1,910,346 shares in the last quarter. Capital World Investors increased its position in shares of Illumina by 218.0% in the second quarter. Capital World Investors now owns 1,463,000 shares of the life sciences company’s stock valued at $205,376,000 after buying an additional 1,003,000 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Illumina by 3.8% in the second quarter. Baillie Gifford & Co. now owns 18,615,061 shares of the life sciences company’s stock worth $2,613,182,000 after buying an additional 682,010 shares during the period. Rockefeller Financial Services Inc. increased its position in shares of Illumina by 11,812.5% in the second quarter. Rockefeller Financial Services Inc. now owns 271,962 shares of the life sciences company’s stock worth $38,177,000 after buying an additional 269,679 shares during the period. Finally, Eaton Vance Management increased its position in shares of Illumina by 1,107.7% in the second quarter. Eaton Vance Management now owns 196,643 shares of the life sciences company’s stock worth $27,605,000 after buying an additional 180,361 shares during the period. Hedge funds and other institutional investors own 95.22% of the company’s stock.
Illumina Company Profile
Illumina, Inc (Illumina) offers sequencing and array-based solutions for genetic analysis. The Company’s products and services serve customers in a range of markets, enabling the adoption of genomic solutions in research and clinical settings. The Company’s customers include genomic research centers, academic institutions, government laboratories and hospitals, as well as pharmaceutical, biotechnology, agrigenomics and commercial molecular diagnostic laboratories, and consumer genomics companies.
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