Illumina, Inc. (NASDAQ:ILMN) Expected to Announce Quarterly Sales of $1.09 Billion

Wall Street brokerages expect Illumina, Inc. (NASDAQ:ILMN) to post sales of $1.09 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Illumina’s earnings, with the lowest sales estimate coming in at $1.09 billion and the highest estimate coming in at $1.10 billion. Illumina reported sales of $953.00 million during the same quarter last year, which indicates a positive year-over-year growth rate of 14.4%. The company is scheduled to report its next quarterly earnings report on Thursday, February 10th.

On average, analysts expect that Illumina will report full-year sales of $4.42 billion for the current financial year, with estimates ranging from $4.41 billion to $4.43 billion. For the next fiscal year, analysts forecast that the company will post sales of $4.77 billion, with estimates ranging from $4.64 billion to $4.84 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Illumina.

Illumina (NASDAQ:ILMN) last released its quarterly earnings results on Thursday, November 4th. The life sciences company reported $1.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.21. Illumina had a net margin of 21.17% and a return on equity of 15.03%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm earned $1.02 earnings per share. The company’s quarterly revenue was up 39.3% on a year-over-year basis.

Several brokerages have recently commented on ILMN. Canaccord Genuity raised their price objective on shares of Illumina from $515.00 to $555.00 and gave the company a “buy” rating in a research report on Monday, August 9th. TheStreet cut shares of Illumina from a “b-” rating to a “c” rating in a research note on Wednesday, October 6th. Piper Sandler raised their target price on shares of Illumina from $510.00 to $560.00 and gave the company an “overweight” rating in a research note on Friday, August 6th. Zacks Investment Research cut shares of Illumina from a “hold” rating to a “strong sell” rating and set a $390.00 target price for the company. in a research note on Tuesday, October 19th. Finally, Barclays raised their target price on shares of Illumina from $355.00 to $365.00 and gave the company an “underweight” rating in a research note on Friday, August 6th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Illumina currently has an average rating of “Hold” and a consensus price target of $424.00.

Shares of ILMN stock traded down $0.18 on Friday, hitting $365.56. 1,112,567 shares of the stock traded hands, compared to its average volume of 895,605. The firm has a market cap of $57.14 billion, a price-to-earnings ratio of 60.03, a PEG ratio of 2.17 and a beta of 0.87. Illumina has a 52 week low of $301.73 and a 52 week high of $555.77. The firm has a 50 day simple moving average of $405.93 and a two-hundred day simple moving average of $439.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.68 and a quick ratio of 2.24.

In related news, SVP Alexander Aravanis sold 2,926 shares of the company’s stock in a transaction dated Tuesday, October 12th. The shares were sold at an average price of $409.21, for a total value of $1,197,348.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Susan H. Tousi sold 300 shares of the company’s stock in a transaction dated Monday, August 30th. The shares were sold at an average price of $463.50, for a total transaction of $139,050.00. Following the completion of the sale, the senior vice president now directly owns 41,456 shares of the company’s stock, valued at approximately $19,214,856. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,507 shares of company stock valued at $6,001,240. Company insiders own 0.23% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ILMN. Johnson & Johnson purchased a new position in Illumina during the third quarter worth about $328,613,000. Edgewood Management LLC boosted its stake in Illumina by 11.4% during the third quarter. Edgewood Management LLC now owns 6,905,705 shares of the life sciences company’s stock worth $2,801,023,000 after buying an additional 705,288 shares during the period. Two Sigma Advisers LP boosted its stake in Illumina by 276.9% during the third quarter. Two Sigma Advisers LP now owns 643,400 shares of the life sciences company’s stock worth $260,969,000 after buying an additional 472,700 shares during the period. Liontrust Investment Partners LLP purchased a new position in Illumina during the third quarter worth about $187,554,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Illumina during the third quarter worth about $172,030,000. 88.24% of the stock is owned by institutional investors.

Illumina Company Profile

Illumina, Inc engages in the development, manufacturing, and marketing of life science tools and integrated systems for large-scale analysis of genetic variation and function. It operates through Core Illumina segment, which serves customers in the research, clinical and applied markets, and enable the adoption of a variety of genomic solutions.

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