Research Analysts Set Expectations for Illumina, Inc.’s FY2024 Earnings (NASDAQ:ILMN)

Illumina, Inc. (NASDAQ:ILMN) – Equities researchers at Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for shares of Illumina in a report released on Tuesday, September 17th. Leerink Partnrs analyst P. Souda now expects that the life sciences company will post earnings per share of $3.86 for the year, up from their prior forecast of $3.84. The consensus estimate for Illumina’s current full-year earnings is $3.62 per share. Leerink Partnrs also issued estimates for Illumina’s Q4 2024 earnings at $0.92 EPS, Q1 2025 earnings at $0.95 EPS, Q2 2025 earnings at $1.07 EPS, Q4 2025 earnings at $1.25 EPS and FY2026 earnings at $5.30 EPS.

ILMN has been the topic of a number of other research reports. Robert W. Baird increased their price objective on shares of Illumina from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Barclays raised Illumina from an “underweight” rating to an “equal weight” rating and set a $125.00 price target on the stock in a research report on Wednesday, August 14th. Stephens reissued an “overweight” rating and issued a $170.00 price objective on shares of Illumina in a report on Wednesday, July 10th. Piper Sandler lowered their target price on Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $242.00 price target on shares of Illumina in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.05.

Illumina Stock Performance

ILMN opened at $130.97 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. Illumina has a 12-month low of $89.00 and a 12-month high of $148.19. The firm has a 50 day moving average of $124.62 and a two-hundred day moving average of $120.62. The firm has a market capitalization of $20.86 billion, a PE ratio of -16.07 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.24. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year.

Institutional Investors Weigh In On Illumina

Several large investors have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. increased its position in shares of Illumina by 426.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock worth $2,123,000 after purchasing an additional 12,521 shares in the last quarter. Findlay Park Partners LLP purchased a new stake in shares of Illumina during the first quarter worth $100,120,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Illumina in the first quarter valued at about $4,527,000. Norges Bank purchased a new position in shares of Illumina in the fourth quarter worth about $264,636,000. Finally, US Bancorp DE lifted its stake in shares of Illumina by 33.9% in the first quarter. US Bancorp DE now owns 31,600 shares of the life sciences company’s stock worth $4,339,000 after buying an additional 8,001 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Company Profile

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.