Illumina (NASDAQ:ILMN) Posts Quarterly Earnings Results, Beats Expectations By $0.26 EPS

by · The Markets Daily

Illumina (NASDAQ:ILMN – Get Free Report) released its quarterly earnings results on Monday. The life sciences company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.88 by $0.26, Briefing.com reports. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year.

Illumina Price Performance

Shares of ILMN traded down $3.13 during mid-day trading on Wednesday, hitting $151.83. 2,815,785 shares of the stock were exchanged, compared to its average volume of 2,007,547. The company has a market cap of $24.19 billion, a PE ratio of -15.24 and a beta of 1.13. Illumina has a 52-week low of $89.00 and a 52-week high of $156.66. The firm has a 50-day moving average of $137.27 and a two-hundred day moving average of $123.12. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11.

Analysts Set New Price Targets

Several research firms have recently commented on ILMN. Royal Bank of Canada upped their price target on shares of Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research report on Tuesday. Piper Sandler reduced their price target on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Daiwa America raised shares of Illumina to a “strong-buy” rating in a research report on Friday, August 16th. Daiwa Capital Markets upgraded Illumina from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $120.00 to $154.00 in a research note on Friday, August 16th. Finally, Argus upgraded Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $162.18.

Read Our Latest Stock Analysis on ILMN

About Illumina

(Get Free Report)

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.

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