Leerink Partnrs Brokers Lift Earnings Estimates for Illumina

Illumina, Inc. (NASDAQ:ILMN) – Investment analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for Illumina in a report issued on Monday, November 4th. Leerink Partnrs analyst P. Souda now anticipates that the life sciences company will post earnings of $4.09 per share for the year, up from their prior estimate of $3.87. The consensus estimate for Illumina’s current full-year earnings is $3.62 per share.

A number of other equities analysts have also recently commented on the company. Daiwa Capital Markets upgraded Illumina from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $120.00 to $154.00 in a report on Friday, August 16th. Royal Bank of Canada lifted their price target on Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a report on Tuesday. Scotiabank reduced their price target on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. StockNews.com started coverage on Illumina in a report on Thursday, August 29th. They set a “buy” rating for the company. Finally, Piper Sandler reduced their price target on Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.18.

Illumina Stock Performance

Illumina stock opened at $151.83 on Wednesday. Illumina has a 52 week low of $89.00 and a 52 week high of $156.66. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. The stock has a 50-day simple moving average of $137.27 and a 200 day simple moving average of $123.12.

Illumina (NASDAQ:ILMN) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a positive return on equity of 6.36% and a negative net margin of 36.10%. Illumina’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. raised its position in Illumina by 426.0% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 15,460 shares of the life sciences company’s stock valued at $2,123,000 after purchasing an additional 12,521 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Illumina during the first quarter worth $4,527,000. US Bancorp DE increased its holdings in shares of Illumina by 33.9% during the first quarter. US Bancorp DE now owns 31,600 shares of the life sciences company’s stock worth $4,339,000 after buying an additional 8,001 shares in the last quarter. Cetera Advisors LLC acquired a new position in shares of Illumina during the first quarter worth $610,000. Finally, Weybosset Research & Management LLC increased its holdings in shares of Illumina by 92.0% during the third quarter. Weybosset Research & Management LLC now owns 18,052 shares of the life sciences company’s stock worth $2,354,000 after buying an additional 8,650 shares in 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.