Leerink Partnrs Research Analysts Decrease Earnings Estimates for Illumina, Inc. (NASDAQ:ILMN)

Illumina, Inc. (NASDAQ:ILMN) – Investment analysts at Leerink Partnrs decreased their Q3 2024 EPS estimates for Illumina in a report issued on Wednesday, August 7th. Leerink Partnrs analyst P. Souda now anticipates that the life sciences company will post earnings of $0.88 per share for the quarter, down from their previous forecast of $0.95. The consensus estimate for Illumina’s current full-year earnings is $1.50 per share. Leerink Partnrs also issued estimates for Illumina’s Q4 2024 earnings at $0.91 EPS, FY2024 earnings at $3.85 EPS, Q1 2025 earnings at $0.92 EPS, Q2 2025 earnings at $1.06 EPS, Q3 2025 earnings at $1.23 EPS, Q4 2025 earnings at $1.31 EPS, FY2025 earnings at $4.51 EPS and FY2026 earnings at $5.55 EPS.

A number of other research firms have also recently commented on ILMN. StockNews.com assumed coverage on Illumina in a research note on Sunday, June 30th. They issued a “buy” rating for the company. Robert W. Baird boosted their target price on shares of Illumina from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $170.00 target price on shares of Illumina in a research report on Wednesday, July 10th. TD Cowen upped their price objective on shares of Illumina from $122.00 to $126.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $242.00 target price on shares of Illumina in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Illumina presently has an average rating of “Hold” and a consensus target price of $149.15.

Illumina Stock Performance

Illumina stock opened at $123.56 on Friday. Illumina has a fifty-two week low of $89.00 and a fifty-two week high of $195.64. The stock’s 50 day simple moving average is $112.98 and its two-hundred day simple moving average is $123.03. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 1.75. The stock has a market cap of $19.68 billion, a price-to-earnings ratio of -15.16 and a beta of 1.15.

Illumina (NASDAQ:ILMN) last announced its earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.24. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm posted $0.32 EPS. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year.

Institutional Investors Weigh In On Illumina

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WCM Investment Management LLC lifted its holdings in shares of Illumina by 2,232.3% during the 1st quarter. WCM Investment Management LLC now owns 3,377,221 shares of the life sciences company’s stock valued at $463,760,000 after buying an additional 3,232,418 shares during the period. Primecap Management Co. CA lifted its holdings in Illumina by 462.5% in the second quarter. Primecap Management Co. CA now owns 2,428,760 shares of the life sciences company’s stock valued at $253,514,000 after acquiring an additional 1,997,010 shares during the period. Capital World Investors purchased a new position in Illumina in the fourth quarter worth about $271,753,000. Norges Bank purchased a new position in Illumina in the fourth quarter worth about $264,636,000. Finally, Coatue Management LLC bought a new stake in shares of Illumina during the 4th quarter valued at about $119,285,000. Hedge funds and other institutional investors 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.