Illumina, Inc. (NASDAQ:ILMN) to Post Q3 2024 Earnings of $0.28 Per Share, Leerink Partnrs Forecasts

Illumina, Inc. (NASDAQ:ILMN) – Equities researchers at Leerink Partnrs dropped their Q3 2024 EPS estimates for shares of Illumina in a note issued to investors on Friday, May 3rd. Leerink Partnrs analyst P. Souda now forecasts that the life sciences company will post earnings of $0.28 per share 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.

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

Several other research firms also recently commented on ILMN. Stephens reiterated an “overweight” rating and issued a $170.00 target price on shares of Illumina in a research report on Tuesday. HSBC downgraded shares of Illumina from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Barclays boosted their target price on shares of Illumina from $85.00 to $100.00 and gave the stock an “underweight” rating in a report on Wednesday, April 10th. StockNews.com downgraded shares of Illumina from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, OTR Global reissued a “mixed” rating on shares of Illumina in a research note on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Illumina has a consensus rating of “Hold” and a consensus target price of $164.65.

Illumina Trading Down 5.2 %

NASDAQ ILMN opened at $112.82 on Monday. The company has a market cap of $17.97 billion, a price-to-earnings ratio of -13.84 and a beta of 1.20. Illumina has a twelve month low of $89.00 and a twelve month high of $213.91. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average is $129.13 and its 200 day moving average is $126.95.

Institutional Investors Weigh In On Illumina

A number of hedge funds have recently added to or reduced their stakes in ILMN. Bouvel Investment Partners LLC lifted its holdings in shares of Illumina by 1.3% in the 1st quarter. Bouvel Investment Partners LLC now owns 6,547 shares of the life sciences company’s stock worth $899,000 after purchasing an additional 84 shares in the last quarter. STF Management LP lifted its stake in shares of Illumina by 3.5% in the fourth quarter. STF Management LP now owns 2,644 shares of the life sciences company’s stock valued at $368,000 after buying an additional 90 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Illumina by 12.3% during the first quarter. Global Retirement Partners LLC now owns 856 shares of the life sciences company’s stock valued at $118,000 after buying an additional 94 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of Illumina by 0.7% during the first quarter. Gulf International Bank UK Ltd now owns 13,562 shares of the life sciences company’s stock worth $1,862,000 after acquiring an additional 98 shares in the last quarter. Finally, Clear Creek Financial Management LLC raised its holdings in shares of Illumina by 6.3% in the 4th quarter. Clear Creek Financial Management LLC now owns 1,695 shares of the life sciences company’s stock worth $236,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jacob Thaysen acquired 7,330 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average price of $135.29 per share, for a total transaction of $991,675.70. Following the completion of the acquisition, the chief executive officer now owns 14,861 shares of the company’s stock, valued at $2,010,544.69. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is owned by insiders.

About Illumina

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.