Illumina (NASDAQ:ILMN) Issues Q4 2024 Earnings Guidance

Illumina (NASDAQ:ILMN) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 0.910-0.930 for the period, compared to the consensus EPS estimate of 0.920. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Illumina also updated its FY 2024 guidance to 4.120-4.140 EPS.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ILMN. Leerink Partners raised their price target on Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Piper Sandler lowered their target price on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Morgan Stanley dropped their target price on shares of Illumina from $156.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Monday. Royal Bank of Canada raised their price target on shares of Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Barclays lifted their price objective on shares of Illumina from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Illumina currently has an average rating of “Moderate Buy” and a consensus target price of $165.63.

Illumina Stock Performance

Illumina stock opened at $136.19 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. The stock’s 50 day simple moving average is $140.55 and its two-hundred day simple moving average is $133.10. Illumina has a 12 month low of $100.08 and a 12 month high of $156.66.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company earned $0.33 earnings per share. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities analysts expect that Illumina will post 4.11 earnings per share 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.