Illumina, Inc. (NASDAQ:ILMN) – Stock analysts at Piper Jaffray Companies lowered their Q3 2019 earnings per share (EPS) estimates for Illumina in a research note issued to investors on Monday, July 29th, Zacks Investment Research reports. Piper Jaffray Companies analyst W. Quirk now anticipates that the life sciences company will post earnings of $1.42 per share for the quarter, down from their prior estimate of $1.60. Piper Jaffray Companies currently has a “Overweight” rating and a $348.00 price target on the stock. Piper Jaffray Companies also issued estimates for Illumina’s Q4 2019 earnings at $1.68 EPS, FY2019 earnings at $6.04 EPS, Q1 2020 earnings at $1.62 EPS, Q3 2020 earnings at $1.84 EPS, Q4 2020 earnings at $2.00 EPS and FY2020 earnings at $7.16 EPS.
Other analysts also recently issued reports about the company. Cowen reduced their price objective on Illumina from $380.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, July 12th. Deutsche Bank reduced their target price on Illumina from $290.00 to $280.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Argus reduced their target price on Illumina to $340.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. BidaskClub downgraded Illumina from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Wolfe Research began coverage on Illumina in a research report on Thursday, May 30th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $330.92.
Shares of NASDAQ:ILMN traded down $1.92 on Wednesday, hitting $288.58. The company had a trading volume of 377,225 shares, compared to its average volume of 1,037,557. The company has a current ratio of 6.79, a quick ratio of 6.10 and a debt-to-equity ratio of 0.42. Illumina has a 52-week low of $268.62 and a 52-week high of $380.76. The business has a 50 day moving average of $308.54 and a 200 day moving average of $315.16. The company has a market cap of $42.42 billion, a PE ratio of 50.45, a PEG ratio of 2.69 and a beta of 1.10.
Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Monday, July 29th. The life sciences company reported $1.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.03. Illumina had a return on equity of 21.73% and a net margin of 27.56%. The business had revenue of $838.00 million for the quarter, compared to the consensus estimate of $835.12 million. During the same period in the prior year, the business earned $1.43 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis.
Hedge funds and other institutional investors have recently modified their holdings of the business. Nuveen Asset Management LLC lifted its holdings in Illumina by 67,829.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,260,705 shares of the life sciences company’s stock worth $832,279,000 after buying an additional 2,257,377 shares during the last quarter. Thoroughbred Financial Services LLC lifted its holdings in shares of Illumina by 38,516.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 875,828 shares of the life sciences company’s stock worth $87,583,000 after purchasing an additional 873,560 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Illumina by 5.0% in the 2nd quarter. Baillie Gifford & Co. now owns 16,775,175 shares of the life sciences company’s stock worth $6,175,781,000 after purchasing an additional 799,884 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Illumina by 107.1% in the 1st quarter. American Century Companies Inc. now owns 815,875 shares of the life sciences company’s stock worth $253,484,000 after purchasing an additional 421,953 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Illumina by 5.2% in the 2nd quarter. Jennison Associates LLC now owns 5,976,219 shares of the life sciences company’s stock worth $2,200,145,000 after purchasing an additional 296,541 shares during the last quarter. Hedge funds and other institutional investors own 92.09% of the company’s stock.
In other news, SVP Charles Dadswell sold 1,220 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $309.70, for a total value of $377,834.00. Following the completion of the sale, the senior vice president now owns 8,006 shares in the company, valued at $2,479,458.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mostafa Ronaghi sold 10,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $285.52, for a total value of $2,855,200.00. Following the completion of the sale, the senior vice president now owns 86,585 shares of the company’s stock, valued at approximately $24,721,749.20. The disclosure for this sale can be found here. Insiders have sold 60,458 shares of company stock valued at $19,329,754 over the last 90 days. 0.38% of the stock is currently owned by insiders.
Illumina Company Profile
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 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 enables the detection of known genetic markers on a single array.