Illumina (NASDAQ:ILMN) Updates FY 2022 Earnings Guidance

Illumina (NASDAQ:ILMN – Get Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of $4.00-$4.20 for the period, compared to the consensus earnings per share estimate of $4.15. The company issued revenue guidance of $5.16 billion-$5.25 billion, compared to the consensus revenue estimate of $5.23 billion.

A number of equities analysts recently weighed in on the stock. Robert W. Baird dropped their target price on shares of Illumina from $437.00 to $380.00 in a research report on Friday, February 11th. StockNews.com initiated coverage on Illumina in a research note on Thursday, March 31st. They set a hold rating on the stock. SVB Leerink decreased their price objective on Illumina from $430.00 to $400.00 and set a market perform rating on the stock in a research report on Friday, February 11th. Piper Sandler lifted their target price on Illumina from $450.00 to $460.00 and gave the stock an overweight rating in a report on Tuesday, February 15th. Finally, Cowen reduced their target price on shares of Illumina from $506.00 to $492.00 in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $440.77.

ILMN traded down $26.94 on Monday, hitting $222.11. The company had a trading volume of 49,727 shares, compared to its average volume of 957,913. The stock has a fifty day moving average price of $330.74 and a 200-day moving average price of $357.46. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.09 and a current ratio of 2.48. Illumina has a 12-month low of $239.03 and a 12-month high of $526.00. The stock has a market capitalization of $34.89 billion, a price-to-earnings ratio of 54.14, a P/E/G ratio of 1.93 and a beta of 0.99.

Illumina (NASDAQ:ILMN – Get Rating) last announced its earnings results on Thursday, May 5th. The life sciences company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.20. Illumina had a return on equity of 8.86% and a net margin of 15.04%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the business earned $1.89 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Analysts forecast that Illumina will post 4.14 EPS for the current fiscal year.

In related news, SVP Phillip G. Febbo sold 1,988 shares of the company’s stock in a transaction that occurred on Wednesday, April 6th. The stock was sold at an average price of $360.01, for a total value of $715,699.88. Following the sale, the senior vice president now owns 5,774 shares in the company, valued at $2,078,697.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Charles Dadswell sold 368 shares of Illumina stock in a transaction that occurred on Monday, March 28th. The shares were 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. Insiders sold a total of 5,198 shares of company stock valued at $1,819,471 over the last ninety days. 0.13% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in ILMN. Forum Financial Management LP acquired a new stake in Illumina during the fourth quarter valued at $285,000. Comerica Bank grew its position in shares of Illumina by 1.4% during the 4th quarter. Comerica Bank now owns 19,860 shares of the life sciences company’s stock valued at $6,846,000 after acquiring an additional 267 shares during the period. Kingsview Wealth Management LLC grew its position in shares of Illumina by 14.4% during the 4th quarter. Kingsview Wealth Management LLC now owns 859 shares of the life sciences company’s stock valued at $327,000 after acquiring an additional 108 shares during the period. Toroso Investments LLC increased its stake in shares of Illumina by 40.0% in the 4th quarter. Toroso Investments LLC now owns 3,176 shares of the life sciences company’s stock valued at $1,208,000 after purchasing an additional 908 shares in the last quarter. Finally, Horizon Investments LLC raised its holdings in Illumina by 8.4% in the 4th quarter. Horizon Investments LLC now owns 1,060 shares of the life sciences company’s stock worth $403,000 after purchasing an additional 82 shares during the period. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Illumina Company Profile (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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