Leerink Partnrs Predicts Stronger Earnings for Illumina

Illumina, Inc. (NASDAQ:ILMN) – Research analysts at Leerink Partnrs raised their FY2024 EPS estimates for Illumina in a research note 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 previous estimate 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 research analysts have also issued research reports about the stock. Stephens raised their price objective on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Canaccord Genuity Group raised their price objective on shares of Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. TD Cowen raised their price objective on shares of Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Royal Bank of Canada raised their price objective on shares of Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, HSBC upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $165.63.

Illumina Price Performance

NASDAQ ILMN opened at $134.76 on Wednesday. Illumina has a 12 month low of $100.08 and a 12 month high of $156.66. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The firm has a market capitalization of $21.37 billion, a PE ratio of -13.53 and a beta of 1.11. The company’s 50 day simple moving average is $139.06 and its 200 day simple moving average is $134.26.

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

Hedge Funds Weigh In On Illumina

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caprock Group LLC boosted its stake in shares of Illumina by 3.7% during the 4th quarter. Caprock Group LLC now owns 2,992 shares of the life sciences company’s stock valued at $400,000 after buying an additional 108 shares during the period. Legacy Trust bought a new position in shares of Illumina during the 4th quarter worth about $1,693,000. Smith Group Asset Management LLC acquired a new stake in shares of Illumina during the 4th quarter valued at about $3,341,000. Robeco Institutional Asset Management B.V. boosted its position in Illumina by 62.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 448,617 shares of the life sciences company’s stock valued at $59,949,000 after buying an additional 172,111 shares in the last quarter. Finally, Nilsine Partners LLC grew its stake in Illumina by 6.5% during the fourth quarter. Nilsine Partners LLC now owns 3,489 shares of the life sciences company’s stock worth $466,000 after buying an additional 213 shares during the last quarter. Institutional investors and hedge funds 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.