Brokers Set Expectations for Illumina Inc.’s FY2016 Earnings (ILMN)
Illumina Inc. (NASDAQ:ILMN) – Leerink Swann issued their FY2016 EPS estimates for shares of Illumina in a report released on Wednesday. Leerink Swann analyst P. Souda anticipates that the firm will post earnings per share of $3.38 for the year. Leerink Swann has a “Market Perform” rating and a $145.00 price target on the stock. Leerink Swann also issued estimates for Illumina’s Q4 2016 earnings at $0.84 EPS, FY2017 earnings at $3.81 EPS and FY2019 earnings at $5.32 EPS.
Several other analysts also recently weighed in on ILMN. BTIG Research reiterated a “hold” rating on shares of Illumina in a research report on Thursday, November 3rd. Canaccord Genuity set a $135.00 price objective on Illumina and gave the company a “hold” rating in a research report on Wednesday, November 2nd. Vetr downgraded Illumina from a “buy” rating to a “hold” rating and set a $133.50 price objective for the company. in a research report on Wednesday, November 9th. Cowen and Company reiterated an “outperform” rating and issued a $160.00 price objective on shares of Illumina in a research report on Wednesday, October 12th. Finally, First Analysis downgraded Illumina from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $130.00 to $116.00 in a research report on Wednesday, November 2nd. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $152.88.
Shares of Illumina (NASDAQ:ILMN) opened at 136.80 on Monday. The firm has a market cap of $20.10 billion, a P/E ratio of 45.91 and a beta of 1.24. The company has a 50-day moving average of $150.76 and a 200 day moving average of $153.06. Illumina has a 52-week low of $127.10 and a 52-week high of $196.47.
Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Tuesday, November 1st. The life sciences company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.10. Illumina had a net margin of 18.72% and a return on equity of 23.76%. The business earned $607 million during the quarter, compared to the consensus estimate of $628.06 million. During the same quarter last year, the firm posted $0.80 EPS. Illumina’s revenue was up 10.4% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently bought and sold shares of ILMN. Capital Research Global Investors increased its position in 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 during the period. Capital World Investors increased its position in 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 during the period. Baillie Gifford & Co. increased its position in Illumina by 3.8% in the second quarter. Baillie Gifford & Co. now owns 18,615,061 shares of the life sciences company’s stock valued at $2,613,182,000 after buying an additional 682,010 shares during the period. Rockefeller Financial Services Inc. increased its position in 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 valued at $38,177,000 after buying an additional 269,679 shares during the period. Finally, American Capital Management Inc. bought a new position in Illumina during the third quarter valued at approximately $43,373,000. 93.95% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Daniel Bradbury sold 600 shares of the firm’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $184.36, for a total value of $110,616.00. Following the transaction, the director now owns 17,065 shares of the company’s stock, valued at $3,146,103.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marc Stapley sold 1,270 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $172.87, for a total value of $219,544.90. Following the completion of the transaction, the executive vice president now directly owns 33,916 shares in the company, valued at approximately $5,863,058.92. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
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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