Illumina (NASDAQ:ILMN) Issues Q4 Earnings Guidance

Illumina (NASDAQ:ILMN) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.91-$0.93 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ILMN. UBS Group increased their target price on shares of Illumina from $133.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Barclays upped their target price on Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Piper Sandler cut their price target on Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Leerink Partners increased their price objective on Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Canaccord Genuity Group lifted their target price on shares of Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Illumina currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.63.

Illumina Stock Performance

NASDAQ:ILMN opened at $136.48 on Wednesday. Illumina has a 1-year low of $100.08 and a 1-year high of $156.66. The firm has a 50 day simple moving average of $140.55 and a 200-day simple moving average of $133.10. The firm has a market cap of $21.65 billion, a PE ratio of -13.70 and a beta of 1.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business posted $0.33 earnings per share. Illumina’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities analysts expect that Illumina will post 4.11 EPS for the current 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.