Research Analysts Set Expectations for Illumina Inc.’s FY2016 Earnings (ILMN)
Illumina Inc. (NASDAQ:ILMN) – Stock analysts at Cantor Fitzgerald reduced their FY2016 earnings estimates for Illumina in a research report issued on Wednesday. Cantor Fitzgerald analyst B. Brokmeier now forecasts that the firm will post earnings of $3.35 per share for the year, down from their prior forecast of $3.56. Cantor Fitzgerald has a “Hold” rating and a $155.00 price target on the stock.
Other equities analysts have also issued reports about the stock. Argus reaffirmed a “buy” rating and issued a $170.00 price target (down from $205.00) on shares of Illumina in a report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Illumina from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 27th. Mizuho lifted their price objective on shares of Illumina from $138.00 to $148.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Citigroup Inc. downgraded shares of Illumina from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $190.00 to $140.00 in a research note on Tuesday, October 11th. Finally, Zacks Investment Research upgraded shares of Illumina from a “sell” rating to a “hold” rating and set a $186.00 price objective for the company in a research note on Thursday, July 28th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Illumina currently has a consensus rating of “Hold” and an average price target of $156.88.
Illumina (NASDAQ:ILMN) opened at 138.00 on Friday. The company’s 50-day moving average price is $171.14 and its 200-day moving average price is $156.05. The stock has a market cap of $20.23 billion, a P/E ratio of 47.26 and a beta of 0.47. Illumina has a one year low of $127.10 and a one year high of $196.47.
Illumina (NASDAQ:ILMN) last announced its quarterly 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. Illumina had a return on equity of 23.69% and a net margin of 18.73%. The company had revenue of $600 million for the quarter, compared to the consensus estimate of $31.91 million. During the same quarter in the previous year, the business earned $0.80 EPS. Illumina’s revenue was up 11.3% compared to the same quarter last year.
Hedge funds have recently bought and sold shares of the stock. Simonbaker & Partners LLC purchased a new stake in Illumina during the first quarter valued at $243,000. Cleararc Capital Inc. boosted its stake in Illumina by 0.7% in the first quarter. Cleararc Capital Inc. now owns 3,344 shares of the life sciences company’s stock valued at $542,000 after buying an additional 23 shares during the period. Tiverton Asset Management LLC purchased a new stake in Illumina during the first quarter valued at $2,372,000. Riverhead Capital Management LLC boosted its stake in Illumina by 130.5% in the first quarter. Riverhead Capital Management LLC now owns 11,873 shares of the life sciences company’s stock valued at $1,924,000 after buying an additional 6,723 shares during the period. Finally, Marsico Capital Management LLC boosted its stake in Illumina by 4.8% in the first quarter. Marsico Capital Management LLC now owns 11,898 shares of the life sciences company’s stock valued at $1,929,000 after buying an additional 546 shares during the period. 95.22% of the stock is owned by institutional investors and hedge funds.
In other news, Director Jay T. Flatley sold 10,000 shares of the stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the sale, the director now owns 498,061 shares of the company’s stock, valued at approximately $74,709,150. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert S. Epstein sold 300 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $170.27, for a total transaction of $51,081.00. Following the completion of the sale, the director now directly owns 7,224 shares of the company’s stock, valued at approximately $1,230,030.48. The disclosure for this sale can be found here. Corporate insiders own 1.60% 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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