Illumina (NASDAQ:ILMN) Updates FY 2022 Earnings Guidance

Illumina (NASDAQ:ILMNGet 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.

Several analysts recently commented on the stock. Canaccord Genuity Group reduced their target price on shares of Illumina from $555.00 to $520.00 and set a buy rating for the company in a report on Friday, May 6th. Citigroup reduced their target price on shares of Illumina from $400.00 to $325.00 in a report on Friday, May 6th. Cowen reduced their target price on shares of Illumina from $506.00 to $492.00 in a report on Friday, May 6th. SVB Leerink reduced their target price on shares of Illumina from $430.00 to $400.00 and set a market perform rating for the company in a report on Friday, February 11th. Finally, Cowen reduced their target price on shares of Illumina from $506.00 to $492.00 in a report on Friday, May 6th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Illumina currently has a consensus rating of Hold and a consensus target price of $433.08.

Shares of NASDAQ:ILMN traded down $2.25 during midday trading on Monday, hitting $231.31. The stock had a trading volume of 12,452 shares, compared to its average volume of 1,006,761. The company’s 50-day moving average price is $320.18 and its 200-day moving average price is $350.64. The company has a market capitalization of $36.34 billion, a P/E ratio of 50.77, a price-to-earnings-growth ratio of 1.82 and a beta of 0.99. The company has a quick ratio of 1.54, a current ratio of 1.85 and a debt-to-equity ratio of 0.11. Illumina has a fifty-two week low of $208.35 and a fifty-two week high of $526.00.

Illumina (NASDAQ:ILMNGet Rating) last released its quarterly earnings data on Thursday, May 5th. The life sciences company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.20. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Illumina had a net margin of 15.04% and a return on equity of 8.37%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.89 EPS. Research analysts expect that Illumina will post 4.12 EPS for the current fiscal year.

In other news, SVP Charles Dadswell sold 368 shares of the company’s stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $300.13, for a total value of $110,447.84. Following the sale, the senior vice president now directly owns 7,427 shares of the company’s stock, valued at approximately $2,229,065.51. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Phillip G. Febbo sold 1,988 shares of the stock in a transaction on Wednesday, April 6th. The stock was sold at an average price of $360.01, for a total transaction of $715,699.88. Following the transaction, the senior vice president now directly owns 5,774 shares in the company, valued at $2,078,697.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,198 shares of company stock valued at $1,819,471. 0.13% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Boston Private Wealth LLC lifted its stake in shares of Illumina by 0.8% in the fourth quarter. Boston Private Wealth LLC now owns 5,720 shares of the life sciences company’s stock valued at $2,176,000 after buying an additional 44 shares in the last quarter. Horizon Investments LLC raised its holdings in shares of Illumina by 8.4% in the fourth quarter. Horizon Investments LLC now owns 1,060 shares of the life sciences company’s stock valued at $403,000 after purchasing an additional 82 shares during the last quarter. Dakota Wealth Management raised its holdings in shares of Illumina by 13.8% in the first quarter. Dakota Wealth Management now owns 826 shares of the life sciences company’s stock valued at $288,000 after purchasing an additional 100 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Illumina by 460.9% in the first quarter. Brown Brothers Harriman & Co. now owns 129 shares of the life sciences company’s stock valued at $45,000 after purchasing an additional 106 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its holdings in Illumina by 14.4% during the fourth quarter. Kingsview Wealth Management LLC now owns 859 shares of the life sciences company’s stock worth $327,000 after buying an additional 108 shares during the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

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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