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 earnings per share guidance of $0.91-$0.93 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

ILMN has been the subject of several research analyst reports. Leerink Partners boosted their target price on shares of Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Canaccord Genuity Group upped their price objective on Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Stephens lifted their target price on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Royal Bank of Canada raised their price objective on Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, Robert W. Baird boosted their target price on shares of Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Eight equities 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $165.63.

Illumina Stock Performance

Shares of ILMN opened at $139.00 on Tuesday. Illumina has a 52 week low of $100.08 and a 52 week high of $156.66. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. The company has a market capitalization of $22.05 billion, a PE ratio of -13.96 and a beta of 1.11. The company’s 50 day moving average price is $140.92 and its 200 day moving average price is $132.88.

Illumina (NASDAQ:ILMN) last posted 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. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company posted $0.33 EPS. Illumina’s revenue was down 3.5% on a year-over-year basis. Research analysts expect that Illumina will post 4.11 EPS 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.