$1.21 Billion in Sales Expected for Illumina, Inc. (NASDAQ:ILMN) This Quarter

Brokerages expect Illumina, Inc. (NASDAQ:ILMNGet Rating) to announce sales of $1.21 billion for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Illumina’s earnings, with the lowest sales estimate coming in at $1.20 billion and the highest estimate coming in at $1.23 billion. Illumina posted sales of $1.09 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 11%. The firm is scheduled to announce its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Illumina will report full year sales of $5.23 billion for the current financial year, with estimates ranging from $5.20 billion to $5.25 billion. For the next fiscal year, analysts anticipate that the business will post sales of $6.08 billion, with estimates ranging from $5.99 billion to $6.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Illumina.

Illumina (NASDAQ:ILMNGet Rating) last issued its quarterly earnings results on Thursday, February 10th. The life sciences company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.25. Illumina had a return on equity of 11.35% and a net margin of 16.82%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the business posted $1.22 EPS. Illumina’s revenue for the quarter was up 25.2% compared to the same quarter last year.

ILMN has been the subject of a number of analyst reports. Barclays upgraded Illumina from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $432.72 to $412.00 in a research note on Tuesday, January 11th. Zacks Investment Research upgraded Illumina from a “strong sell” rating to a “hold” rating and set a $399.00 price target for the company in a research note on Tuesday, January 4th. SVB Leerink cut their price objective on Illumina from $430.00 to $400.00 and set a “market perform” rating for the company in a research report on Friday, February 11th. Bank of America upgraded Illumina from an “underperform” rating to a “neutral” rating and set a $390.00 price objective for the company in a research report on Friday, January 7th. Finally, Robert W. Baird cut their price objective on Illumina from $437.00 to $380.00 in a research report on Friday, February 11th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $430.10.

In other Illumina news, SVP Aimee L. Hoyt sold 2,474 shares of the firm’s stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of $350.51, for a total value of $867,161.74. Following the completion of the sale, the senior vice president now owns 5,342 shares of the company’s stock, valued at $1,872,424.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Charles Dadswell sold 368 shares of the firm’s stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $342.83, for a total transaction of $126,161.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,830 shares of company stock valued at $1,709,023. 0.23% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assetmark Inc. bought a new stake in shares of Illumina during the third quarter valued at approximately $26,000. Asset Dedication LLC raised its stake in shares of Illumina by 75.0% during the first quarter. Asset Dedication LLC now owns 77 shares of the life sciences company’s stock valued at $28,000 after acquiring an additional 33 shares in the last quarter. Farmers & Merchants Investments Inc. bought a new stake in shares of Illumina during the first quarter valued at approximately $30,000. Logan Capital Management Inc. raised its stake in shares of Illumina by 90.7% during the third quarter. Logan Capital Management Inc. now owns 82 shares of the life sciences company’s stock valued at $33,000 after acquiring an additional 39 shares in the last quarter. Finally, Bell Investment Advisors Inc bought a new stake in shares of Illumina during the third quarter valued at approximately $37,000. 85.41% of the stock is owned by institutional investors and hedge funds.

Shares of ILMN stock opened at $296.65 on Monday. Illumina has a 52-week low of $292.60 and a 52-week high of $526.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.09 and a current ratio of 2.48. The firm has a market capitalization of $46.60 billion, a PE ratio of 58.74, a PEG ratio of 2.35 and a beta of 0.94. The stock has a fifty day simple moving average of $334.04 and a two-hundred day simple moving average of $361.75.

About Illumina (Get Rating)

Illumina, Inc provides sequencing and array-based solutions for genetic and genomic analysis. Its products and services serve customers in a range of markets enabling the adoption of genomic solutions in research and clinical settings for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments.

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