Illumina, Inc. (NASDAQ:ILMN) Forecasted to Earn Q3 2024 Earnings of $0.88 Per Share

Illumina, Inc. (NASDAQ:ILMN) – Equities research analysts at Leerink Partnrs lowered their Q3 2024 earnings per share (EPS) estimates for shares of Illumina in a research note issued to investors on Wednesday, August 7th. Leerink Partnrs analyst P. Souda now anticipates that the life sciences company will post earnings of $0.88 per share for the quarter, down from their previous forecast of $0.95. The consensus estimate for Illumina’s current full-year earnings is $1.50 per share. Leerink Partnrs also issued estimates for Illumina’s Q4 2024 earnings at $0.91 EPS, FY2024 earnings at $3.85 EPS, Q1 2025 earnings at $0.92 EPS, Q2 2025 earnings at $1.06 EPS, Q3 2025 earnings at $1.23 EPS, Q4 2025 earnings at $1.31 EPS, FY2025 earnings at $4.51 EPS and FY2026 earnings at $5.55 EPS.

Several other brokerages have also issued reports on ILMN. Evercore ISI cut their price objective on Illumina from $195.00 to $175.00 and set an “outperform” rating for the company in a report on Tuesday, June 11th. UBS Group raised their price target on Illumina from $131.00 to $133.00 and gave the company a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of Illumina from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday. Jefferies Financial Group began coverage on Illumina in a report on Monday, June 3rd. They issued a “hold” rating and a $115.00 price target for the company. Finally, Citigroup increased their price objective on shares of Illumina from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Illumina has an average rating of “Hold” and an average target price of $149.15.

Illumina Price Performance

Shares of NASDAQ:ILMN opened at $123.56 on Friday. The company’s fifty day moving average is $112.98 and its two-hundred day moving average is $123.03. The company has a market cap of $19.68 billion, a P/E ratio of -15.16 and a beta of 1.15. The company has a quick ratio of 1.36, a current ratio of 1.75 and a debt-to-equity ratio of 0.26. Illumina has a 12-month low of $89.00 and a 12-month high of $195.64.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. Illumina’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 EPS.

Institutional Trading of Illumina

Large investors have recently modified their holdings of the stock. Bouvel Investment Partners LLC lifted its position in Illumina by 1.3% during the first 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 during the period. UMB Bank n.a. lifted its holdings in shares of Illumina by 7.0% during the 2nd quarter. UMB Bank n.a. now owns 1,341 shares of the life sciences company’s stock worth $140,000 after acquiring an additional 88 shares during the period. STF Management LP boosted its position in shares of Illumina by 3.5% during the 4th quarter. STF Management LP now owns 2,644 shares of the life sciences company’s stock worth $368,000 after acquiring an additional 90 shares in the last quarter. Global Retirement Partners LLC increased its stake in Illumina by 12.3% in the first quarter. Global Retirement Partners LLC now owns 856 shares of the life sciences company’s stock valued at $118,000 after acquiring an additional 94 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its position in 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 valued at $1,862,000 after purchasing an additional 98 shares in the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.

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.