Illumina (NASDAQ:ILMN) Releases Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Illumina (NASDAQ:ILMN) posted its quarterly earnings data on Monday. The life sciences company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26, Briefing.com reports. Illumina had a negative net margin of 36.10% and a positive return on equity of 6.36%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the firm earned $0.33 earnings per share. The business’s quarterly revenue was down 3.5% on a year-over-year basis.

Illumina Stock Performance

NASDAQ ILMN opened at $151.83 on Thursday. The company’s fifty day moving average is $137.27 and its two-hundred day moving average is $123.12. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. The firm has a market capitalization of $24.19 billion, a price-to-earnings ratio of -15.24 and a beta of 1.13. Illumina has a 52-week low of $89.00 and a 52-week high of $156.66.

Analysts Set New Price Targets

Several research analysts recently weighed in on ILMN shares. Canaccord Genuity Group upped their price target on Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday. Scotiabank lowered their price target on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. Royal Bank of Canada increased their price objective on Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a report on Tuesday. 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, Robert W. Baird raised their price objective on shares of Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.18.

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.