Leerink Partnrs Forecasts Stronger Earnings for Illumina

Illumina, Inc. (NASDAQ:ILMN) – Research analysts at Leerink Partnrs upped their FY2024 earnings estimates for shares of Illumina in a report issued on Tuesday, January 21st. Leerink Partnrs analyst P. Souda now anticipates that the life sciences company will post earnings per share of $4.11 for the year, up from their prior 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.

Other equities research analysts have also recently issued reports about the stock. Barclays lifted their price target on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. HSBC upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Thursday, October 17th. Leerink Partners upped their price target on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. TD Cowen lifted their price objective on Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Stephens increased their target price on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $165.63.

Illumina Stock Up 3.4 %

Shares of ILMN opened at $141.31 on Wednesday. The company’s 50-day moving average price is $139.30 and its 200 day moving average price is $133.99. Illumina has a 12-month low of $100.08 and a 12-month high of $156.66. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The firm has a market cap of $22.41 billion, a P/E ratio of -14.19 and a beta of 1.11.

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

Hedge Funds Weigh In On Illumina

Several large investors have recently bought and sold shares of ILMN. Versant Capital Management Inc boosted its position in shares of Illumina by 153.7% during the 4th quarter. Versant Capital Management Inc now owns 241 shares of the life sciences company’s stock worth $32,000 after acquiring an additional 146 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Illumina by 58.5% during the third quarter. TD Private Client Wealth LLC now owns 382 shares of the life sciences company’s stock worth $50,000 after purchasing an additional 141 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Illumina by 65.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 426 shares of the life sciences company’s stock worth $56,000 after purchasing an additional 168 shares during the last quarter. Private Trust Co. NA boosted its holdings in Illumina by 81.2% in the third quarter. Private Trust Co. NA now owns 473 shares of the life sciences company’s stock valued at $62,000 after purchasing an additional 212 shares in the last quarter. Finally, Focused Wealth Management Inc purchased a new position in Illumina in the third quarter valued at approximately $63,000. Hedge funds and other institutional investors own 89.42% of the company’s stock.

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.