Illumina (NASDAQ:ILMN) Releases Q4 Earnings Guidance

Illumina (NASDAQ:ILMN) updated its fourth quarter earnings guidance on Tuesday. 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.

Analyst Ratings Changes

Several analysts recently issued reports on ILMN shares. Leerink Partners raised their price target on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. HSBC raised Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Thursday, October 17th. Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price on the stock in a research report on Thursday, October 17th. Stephens boosted their price target on shares of Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Finally, TD Cowen boosted their target price on Illumina from $166.00 to $177.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $165.63.

Illumina Stock Performance

ILMN stock opened at $136.19 on Thursday. 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 company’s 50 day simple moving average is $140.55 and its 200-day simple moving average is $133.10.

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

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.