Equities Analysts Set Expectations for Illumina, Inc.’s Q1 2020 Earnings (NASDAQ:ILMN)

Posted by James Conley on Feb 3rd, 2020

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Illumina, Inc. (NASDAQ:ILMN) – Investment analysts at Piper Sandler dropped their Q1 2020 earnings per share (EPS) estimates for Illumina in a research report issued to clients and investors on Wednesday, January 29th. Piper Sandler analyst W. Quirk now anticipates that the life sciences company will post earnings per share of $1.25 for the quarter, down from their prior estimate of $1.52. Piper Sandler has a “Overweight” rating and a $370.00 price target on the stock. Piper Sandler also issued estimates for Illumina’s Q3 2020 earnings at $1.88 EPS, Q4 2020 earnings at $2.03 EPS, Q1 2021 earnings at $1.83 EPS, Q3 2021 earnings at $2.03 EPS and Q4 2021 earnings at $2.22 EPS.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Wednesday, January 29th. The life sciences company reported $1.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.12. The company had revenue of $953.00 million for the quarter, compared to analysts’ expectations of $950.16 million. Illumina had a net margin of 28.27% and a return on equity of 22.78%. Illumina’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 EPS.

A number of other equities analysts have also recently issued reports on ILMN. Wells Fargo & Co dropped their price target on shares of Illumina from $300.00 to $290.00 and set an “underweight” rating on the stock in a research note on Thursday. Cowen reiterated an “outperform” rating and issued a $335.00 price target (up previously from $320.00) on shares of Illumina in a research note on Wednesday, December 18th. Citigroup dropped their price target on shares of Illumina from $385.00 to $350.00 and set a “buy” rating on the stock in a research note on Thursday. ValuEngine cut shares of Illumina from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Finally, Wolfe Research set a $380.00 price target on shares of Illumina and gave the stock a “buy” rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $335.13.

Shares of Illumina stock opened at $290.07 on Monday. The stock has a market cap of $42.64 billion, a price-to-earnings ratio of 42.97, a PEG ratio of 2.16 and a beta of 1.05. The firm’s 50-day moving average is $325.45 and its 200 day moving average is $306.19. Illumina has a 1 year low of $263.30 and a 1 year high of $380.76. The company has a debt-to-equity ratio of 0.41, a current ratio of 6.82 and a quick ratio of 6.15.

In other Illumina news, SVP Charles Dadswell sold 655 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $320.33, for a total value of $209,816.15. Following the completion of the transaction, the senior vice president now owns 11,803 shares of the company’s stock, valued at approximately $3,780,854.99. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Phillip G. Febbo sold 155 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $300.00, for a total value of $46,500.00. Following the completion of the transaction, the senior vice president now directly owns 1,506 shares of the company’s stock, valued at approximately $451,800. The disclosure for this sale can be found here. In the last three months, insiders sold 3,727 shares of company stock valued at $1,204,837. 0.38% of the stock is owned by insiders.

Large investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Illumina by 64.8% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,315,437 shares of the life sciences company’s stock valued at $400,182,000 after purchasing an additional 517,226 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in shares of Illumina by 80.9% during the 3rd quarter. Nikko Asset Management Americas Inc. now owns 753,124 shares of the life sciences company’s stock valued at $229,115,000 after purchasing an additional 336,821 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Illumina by 33.0% during the 3rd quarter. California Public Employees Retirement System now owns 324,248 shares of the life sciences company’s stock valued at $98,643,000 after purchasing an additional 80,523 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Illumina by 14.2% during the 3rd quarter. Voya Investment Management LLC now owns 464,957 shares of the life sciences company’s stock valued at $141,449,000 after purchasing an additional 57,798 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Illumina by 9.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 692,524 shares of the life sciences company’s stock valued at $210,680,000 after purchasing an additional 56,930 shares during the last quarter. 91.71% of the stock is owned by institutional investors and hedge funds.

About Illumina

Illumina, Inc provides sequencing and array-based solutions for genetic analysis. The company operates in two segments, Core Illumina and Consolidated VIEs. It offers sequencing that provides researchers with various applications and the ability to sequence mammalian genomes; and arrays for a range of deoxyribonucleic acid and RNA analysis applications, including single nucleotide polymorphism genotyping, copy number variations analysis, gene expression analysis, and methylation analysis, as well as enables the detection of known genetic markers on a single array.