Q3 2024 EPS Estimates for Illumina, Inc. Boosted by Leerink Partnrs (NASDAQ:ILMN)

Illumina, Inc. (NASDAQ:ILMN) – Research analysts at Leerink Partnrs boosted their Q3 2024 earnings estimates for shares of Illumina in a report released on Thursday, July 18th. Leerink Partnrs analyst P. Souda now anticipates that the life sciences company will post earnings of $0.95 per share for the quarter, up from their prior estimate of $0.28. The consensus estimate for Illumina’s current full-year earnings is $1.38 per share. Leerink Partnrs also issued estimates for Illumina’s Q4 2024 earnings at $1.10 EPS, FY2024 earnings at $2.27 EPS, Q1 2025 earnings at $1.14 EPS, Q2 2025 earnings at $1.18 EPS, Q3 2025 earnings at $1.28 EPS, Q4 2025 earnings at $1.36 EPS and FY2025 earnings at $4.96 EPS.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Thursday, May 2nd. The life sciences company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.31%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm earned $0.08 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year.

A number of other analysts have also recently commented on the stock. Stephens restated an “overweight” rating and set a $170.00 target price on shares of Illumina in a report on Wednesday, July 10th. Barclays upped their price target on shares of Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, April 10th. Scotiabank reduced their price target on shares of Illumina from $185.00 to $176.00 and set a “sector outperform” rating for the company in a research report on Monday, May 6th. Citigroup raised shares of Illumina from a “neutral” rating to a “buy” rating and set a $140.00 target price for the company in a report on Wednesday, July 10th. Finally, Royal Bank of Canada reduced their target price on shares of Illumina from $249.00 to $242.00 and set an “outperform” rating for the company in a report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $158.57.

Illumina Stock Performance

Shares of ILMN stock opened at $115.60 on Monday. Illumina has a 12 month low of $89.00 and a 12 month high of $195.64. The stock has a market cap of $18.42 billion, a PE ratio of -14.18 and a beta of 1.15. The company has a current ratio of 1.75, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The company’s fifty day moving average price is $109.60 and its 200-day moving average price is $124.50.

Institutional Trading of Illumina

A number of institutional investors have recently bought and sold shares of ILMN. Nordea Investment Management AB increased its stake in Illumina by 1.9% in the fourth quarter. Nordea Investment Management AB now owns 13,598 shares of the life sciences company’s stock worth $1,897,000 after purchasing an additional 248 shares during the period. Raymond James Trust N.A. increased its stake in shares of Illumina by 33.1% during the fourth quarter. Raymond James Trust N.A. now owns 3,743 shares of the life sciences company’s stock valued at $521,000 after buying an additional 930 shares during the period. CX Institutional purchased a new position in Illumina in the fourth quarter valued at about $223,000. HB Wealth Management LLC grew its stake in Illumina by 47.6% in the fourth quarter. HB Wealth Management LLC now owns 2,266 shares of the life sciences company’s stock valued at $316,000 after purchasing an additional 731 shares during the last quarter. Finally, Bangor Savings Bank grew its stake in Illumina by 37.6% in the fourth quarter. Bangor Savings Bank now owns 4,768 shares of the life sciences company’s stock valued at $664,000 after purchasing an additional 1,302 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors.

About Illumina

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.