Wall Street analysts expect Illumina, Inc. (NASDAQ:ILMN) to announce $860.57 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Illumina’s earnings, with estimates ranging from $855.90 million to $870.00 million. Illumina reported sales of $778.00 million during the same quarter last year, which would suggest a positive year over year growth rate of 10.6%. The firm is expected to issue its next quarterly earnings report on Tuesday, January 29th.
On average, analysts expect that Illumina will report full year sales of $3.33 billion for the current fiscal year, with estimates ranging from $3.32 billion to $3.35 billion. For the next fiscal year, analysts forecast that the firm will post sales of $3.80 billion, with estimates ranging from $3.70 billion to $3.97 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Illumina.
Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Tuesday, October 23rd. The life sciences company reported $1.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.26. The company had revenue of $853.00 million for the quarter, compared to the consensus estimate of $825.65 million. Illumina had a net margin of 21.09% and a return on equity of 27.10%. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.11 earnings per share.
A number of brokerages recently weighed in on ILMN. Zacks Investment Research downgraded shares of Illumina from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Barclays increased their price objective on shares of Illumina from $350.00 to $370.00 and gave the company an “overweight” rating in a research report on Wednesday, October 24th. BidaskClub upgraded shares of Illumina from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 1st. Deutsche Bank increased their price objective on shares of Illumina to $350.00 and gave the company a “buy” rating in a research report on Friday, October 12th. Finally, Argus set a $372.00 price objective on shares of Illumina and gave the company a “buy” rating in a research report on Friday, August 10th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $330.94.
Illumina stock traded up $0.11 during midday trading on Monday, reaching $334.32. 1,478,902 shares of the company traded hands, compared to its average volume of 944,704. The company has a market cap of $49.13 billion, a price-to-earnings ratio of 83.58, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. Illumina has a 12 month low of $207.51 and a 12 month high of $372.61. The company has a quick ratio of 2.24, a current ratio of 2.46 and a debt-to-equity ratio of 0.24.
In other news, SVP Mostafa Ronaghi sold 10,000 shares of the stock in a transaction on Monday, September 10th. The shares were sold at an average price of $347.07, for a total value of $3,470,700.00. Following the completion of the sale, the senior vice president now directly owns 80,805 shares of the company’s stock, valued at $28,044,991.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Francis A. Desouza sold 2,100 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $369.61, for a total transaction of $776,181.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,428 shares of company stock valued at $23,533,478. 0.54% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Standard Life Aberdeen plc increased its stake in shares of Illumina by 31.1% in the second quarter. Standard Life Aberdeen plc now owns 34,546 shares of the life sciences company’s stock worth $9,650,000 after purchasing an additional 8,199 shares in the last quarter. Jackson Square Partners LLC increased its stake in shares of Illumina by 7.7% in the third quarter. Jackson Square Partners LLC now owns 1,429,221 shares of the life sciences company’s stock worth $524,609,000 after purchasing an additional 102,639 shares in the last quarter. Waters Parkerson & CO. LLC purchased a new stake in shares of Illumina in the second quarter worth $223,000. Handelsbanken Fonder AB purchased a new stake in shares of Illumina in the third quarter worth $8,442,000. Finally, Bank of Nova Scotia increased its stake in shares of Illumina by 216.4% in the second quarter. Bank of Nova Scotia now owns 59,185 shares of the life sciences company’s stock worth $16,529,000 after purchasing an additional 40,478 shares in the last quarter. 88.91% of the stock is owned by hedge funds and other institutional investors.
Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing by synthesis technology that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as allow the detection of known genetic markers on a single array.
Further Reading: What is an SEC Filing?
Get a free copy of the Zacks research report on Illumina (ILMN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Illumina Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Illumina and related companies with MarketBeat.com's FREE daily email newsletter.