FY2024 EPS Estimates for Illumina Boosted by Leerink Partnrs

Illumina, Inc. (NASDAQ:ILMN) – Stock analysts at Leerink Partnrs raised their FY2024 earnings per share (EPS) estimates for Illumina in a research report issued to clients and investors on Tuesday, January 21st. Leerink Partnrs analyst P. Souda now expects that the life sciences company will post earnings per share of $4.11 for the year, up from their previous forecast of $4.09. The consensus estimate for Illumina’s current full-year earnings is $4.13 per share. Leerink Partnrs also issued estimates for Illumina’s Q4 2024 earnings at $0.91 EPS, Q1 2025 earnings at $0.88 EPS, Q3 2025 earnings at $1.18 EPS and FY2025 earnings at $4.30 EPS.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. Illumina’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.33 EPS.

ILMN has been the subject of a number of other research reports. Stephens lifted their price objective on Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Royal Bank of Canada boosted their price target on Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Piper Sandler dropped their price objective on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Barclays lifted their target price on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Finally, Leerink Partners increased their price target on shares of Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $165.63.

Illumina Trading Up 3.4 %

Shares of Illumina stock opened at $141.31 on Wednesday. Illumina has a 1 year low of $100.08 and a 1 year high of $156.66. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The stock has a market cap of $22.41 billion, a PE ratio of -14.19 and a beta of 1.11. The firm has a fifty day moving average price of $139.30 and a 200 day moving average price of $133.99.

Institutional Investors Weigh In On Illumina

A number of hedge funds have recently modified their holdings of ILMN. Jacksonville Wealth Management LLC acquired a new stake in Illumina in the 4th quarter valued at about $347,000. D.B. Root & Company LLC purchased a new stake in shares of Illumina in the fourth quarter valued at approximately $204,000. Janney Montgomery Scott LLC increased its holdings in shares of Illumina by 32.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 8,710 shares of the life sciences company’s stock valued at $1,164,000 after purchasing an additional 2,130 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Illumina by 14.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 24,396 shares of the life sciences company’s stock worth $3,260,000 after buying an additional 3,102 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. boosted its stake in Illumina by 116.7% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 13,000 shares of the life sciences company’s stock worth $1,737,000 after buying an additional 7,000 shares during the last quarter. 89.42% of the stock is currently 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.