Illumina Inc. (ILMN) Updates FY16 Earnings Guidance

Illumina Inc. (NASDAQ:ILMN) issued an update on its FY16 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.48-3.58 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.37. The company issued revenue guidance of +12% to ~$2.49 billion, compared to the consensus revenue estimate of $2.48 billion.

Illumina Inc. (NASDAQ:ILMN) traded down 0.36% on Tuesday, reaching $150.10. 1,644,082 shares of the company traded hands. The firm has a market cap of $22.09 billion and a P/E ratio of 53.97. The stock has a 50-day moving average price of $142.85 and a 200-day moving average price of $150.10. Illumina Inc. has a 52-week low of $127.10 and a 52-week high of $220.86.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Tuesday, July 26th. The life sciences company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The firm earned $600 million during the quarter, compared to the consensus estimate of $31.91 million. During the same quarter last year, the business posted $0.80 earnings per share. Illumina’s revenue was up 11.3% compared to the same quarter last year. Analysts anticipate that Illumina Inc. will post $3.37 earnings per share for the current fiscal year.

ILMN has been the topic of a number of recent analyst reports. Vetr downgraded shares of Illumina from a strong-buy rating to a buy rating and set a $180.06 target price on the stock. in a research note on Thursday, March 31st. Argus initiated coverage on shares of Illumina in a research note on Wednesday, March 30th. They issued a buy rating and a $175.00 target price on the stock. Piper Jaffray Cos. reaffirmed a buy rating and issued a $204.00 target price on shares of Illumina in a research note on Monday, April 11th. Citigroup Inc. reaffirmed a buy rating and issued a $210.00 target price on shares of Illumina in a research note on Friday, April 22nd. Finally, Nomura Holdings Inc. lowered their target price on shares of Illumina from $210.00 to $180.00 and set a buy rating on the stock in a research note on Tuesday, May 3rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twelve have given a buy rating to the company’s stock. Illumina currently has an average rating of Hold and an average price target of $165.74.

In other news, Director Roy A. Whitfield sold 3,800 shares of the business’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $140.44, for a total transaction of $533,672.00. Following the sale, the director now owns 6,653 shares in the company, valued at approximately $934,347.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director A Blaine Bowman sold 5,000 shares of the business’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $137.11, for a total transaction of $685,550.00. Following the sale, the director now owns 18,615 shares in the company, valued at approximately $2,552,302.65. The disclosure for this sale can be found here.

Illumina, Inc (Illumina) offers sequencing and array-based solutions for genetic analysis. The Company’s products and services serve customers in a range of markets, enabling the adoption of genomic solutions in research and clinical settings. The Company’s customers include genomic research centers, academic institutions, government laboratories and hospitals, as well as pharmaceutical, biotechnology, agrigenomics and commercial molecular diagnostic laboratories, and consumer genomics companies.