Illumina (NASDAQ:ILMN) Announces Quarterly Earnings Results

Illumina (NASDAQ:ILMN) posted its earnings results on Thursday. The life sciences company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05, RTT News reports. Illumina had a negative net margin of 28.71% and a positive return on equity of 2.28%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the business posted $0.08 EPS. The business’s quarterly revenue was down 1.0% on a year-over-year basis.

Illumina Stock Down 4.9 %

Illumina stock opened at $117.93 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.66. Illumina has a 12 month low of $89.00 and a 12 month high of $213.91. The company’s fifty day simple moving average is $130.03 and its 200-day simple moving average is $127.02.

Insider Activity at Illumina

In other news, CEO Jacob Thaysen purchased 7,330 shares of Illumina stock in a transaction dated Thursday, February 22nd. The stock was acquired at an average cost of $135.29 per share, for a total transaction of $991,675.70. Following the acquisition, the chief executive officer now directly owns 14,861 shares in the company, valued at $2,010,544.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ILMN. OTR Global reiterated a “mixed” rating on shares of Illumina in a research note on Wednesday, March 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $253.00 target price on shares of Illumina in a research note on Tuesday, April 9th. Stephens reaffirmed an “overweight” rating and issued a $170.00 price target on shares of Illumina in a report on Wednesday, April 10th. Robert W. Baird upped their target price on shares of Illumina from $125.00 to $128.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Barclays upped their price objective on Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Illumina currently has a consensus rating of “Hold” and a consensus target price of $165.10.

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.