Illumina (NASDAQ:ILMN) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Illumina (NASDAQ:ILMNGet Free Report) issued its earnings results on Thursday. The life sciences company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.13, Briefing.com reports. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. Illumina had a negative net margin of 25.20% and a positive return on equity of 2.13%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 EPS.

Illumina Price Performance

NASDAQ:ILMN traded up $0.39 during midday trading on Thursday, reaching $143.33. The stock had a trading volume of 2,434,985 shares, compared to its average volume of 1,885,538. Illumina has a 1-year low of $89.00 and a 1-year high of $238.55. The firm’s fifty day simple moving average is $133.85 and its 200-day simple moving average is $138.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.28 and a current ratio of 1.69.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ILMN. StockNews.com upgraded shares of Illumina from a “hold” rating to a “buy” rating in a report on Wednesday. Guggenheim initiated coverage on shares of Illumina in a research report on Thursday, December 14th. They issued a “buy” rating and a $155.00 target price for the company. HSBC downgraded shares of Illumina from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Bank of America downgraded shares of Illumina from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $140.00 to $100.00 in a research report on Tuesday, December 12th. Finally, Stephens initiated coverage on shares of Illumina in a research report on Thursday, December 14th. They issued an “overweight” rating and a $170.00 target price for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Illumina has an average rating of “Hold” and an average target price of $170.90.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ILMN. Steward Partners Investment Advisory LLC grew its position in Illumina by 1.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,689 shares of the life sciences company’s stock worth $746,000 after purchasing an additional 54 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Illumina by 28.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 270 shares of the life sciences company’s stock valued at $94,000 after acquiring an additional 60 shares in the last quarter. Ancora Advisors LLC increased its stake in Illumina by 11.6% in the first quarter. Ancora Advisors LLC now owns 800 shares of the life sciences company’s stock valued at $186,000 after acquiring an additional 83 shares during the period. Dakota Wealth Management increased its stake in Illumina by 13.8% in the first quarter. Dakota Wealth Management now owns 826 shares of the life sciences company’s stock valued at $288,000 after acquiring an additional 100 shares during the period. Finally, Brown Brothers Harriman & Co. increased its stake in Illumina by 460.9% in the first quarter. Brown Brothers Harriman & Co. now owns 129 shares of the life sciences company’s stock valued at $45,000 after acquiring an additional 106 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Illumina Company Profile

(Get Free Report)

Illumina, Inc develops, manufactures, and markets life science tools and integrated systems for large-scale analysis of genetic variation and function. 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; and whole-genome sequencing kits, which sequence entire genomes of any size and complexity, and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.

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Earnings History for Illumina (NASDAQ:ILMN)

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