Illumina (NASDAQ:ILMN) Issues Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Illumina (NASDAQ:ILMN) released its earnings results on Monday. The life sciences company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26, Briefing.com reports. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm posted $0.33 earnings per share. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year.

Illumina Stock Down 1.5 %

ILMN traded down $2.34 during midday trading on Tuesday, hitting $151.15. 1,158,726 shares of the company’s stock traded hands, compared to its average volume of 1,992,775. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. The company has a market cap of $24.08 billion, a PE ratio of -7.89 and a beta of 1.13. The stock’s fifty day simple moving average is $136.39 and its 200-day simple moving average is $122.65. Illumina has a one year low of $89.00 and a one year high of $155.37.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Daiwa Capital Markets upgraded shares of Illumina from a “neutral” rating to a “buy” rating and raised their target price for the stock from $120.00 to $154.00 in a report on Friday, August 16th. Piper Sandler reduced their price objective on Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. HSBC raised Illumina from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Thursday, October 17th. Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target for the company in a research report on Thursday, October 17th. Finally, Citigroup lifted their price target on Illumina from $155.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Illumina presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.45.

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.