Illumina (NASDAQ:ILMN) Updates Q4 Earnings Guidance

Illumina (NASDAQ:ILMN) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.91-$0.93 for the period, compared to the consensus EPS estimate of $0.92. The company issued revenue guidance of $1.10 billion, compared to the consensus revenue estimate of $1.07 billion. Illumina also updated its FY 2024 guidance to 4.120-4.140 EPS.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Robert W. Baird raised their target price on Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Piper Sandler lowered their price objective on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Stephens upped their target price on shares of Illumina from $170.00 to $184.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Royal Bank of Canada raised their price target on shares of Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, Leerink Partners upped their price objective on shares of Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $165.63.

Illumina Price Performance

NASDAQ ILMN opened at $139.00 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. Illumina has a 52-week low of $100.08 and a 52-week high of $156.66. The business has a 50 day simple moving average of $140.92 and a 200 day simple moving average of $132.88. The stock has a market cap of $22.05 billion, a price-to-earnings ratio of -13.96 and a beta of 1.11.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.88 by $0.26. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 earnings per share. Analysts anticipate that Illumina will post 4.11 earnings per share for the current fiscal year.

Illumina Company Profile

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.