$692.05 Million in Sales Expected for Illumina, Inc. (ILMN) This Quarter
Equities research analysts expect that Illumina, Inc. (NASDAQ:ILMN) will announce $692.05 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Illumina’s earnings, with the lowest sales estimate coming in at $680.38 million and the highest estimate coming in at $701.59 million. Illumina reported sales of $607.14 million during the same quarter last year, which would suggest a positive year over year growth rate of 14%. The firm is expected to announce its next earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Illumina will report full-year sales of $692.05 million for the current financial year, with estimates ranging from $2.67 billion to $2.70 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $3.05 billion per share, with estimates ranging from $2.94 billion to $3.18 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Illumina.
Illumina (NASDAQ:ILMN) last posted its earnings results on Tuesday, August 1st. The life sciences company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.14. The firm had revenue of $662 million during the quarter, compared to the consensus estimate of $642.38 million. Illumina had a return on equity of 19.69% and a net margin of 30.27%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 EPS.
A number of brokerages have recently issued reports on ILMN. Barclays PLC reaffirmed an “equal weight” rating and issued a $150.00 price target on shares of Illumina in a research note on Wednesday, August 9th. Vetr raised Illumina from a “hold” rating to a “buy” rating and set a $209.78 price target on the stock in a research note on Wednesday, August 9th. BidaskClub raised Illumina from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Cowen and Company reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Illumina in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research lowered Illumina from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. Illumina currently has an average rating of “Hold” and a consensus target price of $177.01.
In related news, SVP Charles Dadswell sold 145 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $174.24, for a total value of $25,264.80. Following the sale, the senior vice president now owns 10,646 shares in the company, valued at approximately $1,854,959.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jay T. Flatley sold 22,540 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $195.21, for a total value of $4,400,033.40. Following the completion of the sale, the director now owns 539,176 shares in the company, valued at approximately $105,252,546.96. The disclosure for this sale can be found here. Insiders sold a total of 167,705 shares of company stock worth $31,544,118 in the last quarter. Company insiders own 1.60% of the company’s stock.
Several hedge funds have recently bought and sold shares of ILMN. Winslow Capital Management LLC purchased a new stake in shares of Illumina in the 2nd quarter valued at $211,584,000. HPM Partners LLC raised its holdings in shares of Illumina by 29,103.8% in the 2nd quarter. HPM Partners LLC now owns 751,999 shares of the life sciences company’s stock valued at $107,724,000 after buying an additional 749,424 shares during the period. Fred Alger Management Inc. raised its holdings in shares of Illumina by 611.9% in the 2nd quarter. Fred Alger Management Inc. now owns 637,597 shares of the life sciences company’s stock valued at $110,636,000 after buying an additional 548,030 shares during the period. TIAA CREF Investment Management LLC raised its holdings in shares of Illumina by 55.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,475,669 shares of the life sciences company’s stock valued at $256,058,000 after buying an additional 527,548 shares during the period. Finally, Capital World Investors raised its holdings in shares of Illumina by 23.8% in the 2nd quarter. Capital World Investors now owns 2,135,000 shares of the life sciences company’s stock valued at $370,465,000 after buying an additional 410,000 shares during the period. Hedge funds and other institutional investors own 93.34% of the company’s stock.
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Illumina (ILMN) opened at 209.68 on Friday. Illumina has a 52-week low of $119.37 and a 52-week high of $211.27. The company has a market capitalization of $30.61 billion, a P/E ratio of 42.07 and a beta of 0.81. The stock’s 50 day moving average price is $192.45 and its 200-day moving average price is $178.64.
Illumina Company Profile
Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.
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