Illumina (NASDAQ:ILMN) Announces Earnings Results, Beats Expectations By $0.05 EPS

Illumina (NASDAQ:ILMN) released its quarterly earnings results on Thursday. The life sciences company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05, RTT News reports. Illumina had a positive return on equity of 2.20% and a negative net margin of 25.78%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm posted $0.08 EPS. The business’s revenue was down 1.0% on a year-over-year basis.

Illumina Price Performance

Shares of NASDAQ ILMN traded down $0.69 during mid-day trading on Thursday, reaching $123.99. The company had a trading volume of 1,613,216 shares, compared to its average volume of 1,697,141. The firm has a market cap of $19.75 billion, a price-to-earnings ratio of -16.99 and a beta of 1.20. The business’s 50-day simple moving average is $130.57 and its 200 day simple moving average is $127.14. Illumina has a one year low of $89.00 and a one year high of $213.91. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.66.

Analyst Ratings Changes

ILMN has been the topic of several recent analyst reports. TD Cowen lowered Illumina from an “outperform” rating to a “market perform” rating and set a $144.00 price target on the stock. in a research report on Thursday, January 4th. Stephens reissued an “overweight” rating and set a $170.00 price target on shares of Illumina in a research report on Wednesday, April 10th. Barclays raised their price objective on Illumina from $85.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday, April 10th. HSBC downgraded Illumina from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $253.00 price target on shares of Illumina in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $167.70.

Insider Buying and Selling

In other news, CEO Jacob Thaysen purchased 7,330 shares of Illumina stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average price of $135.29 per share, for a total transaction of $991,675.70. Following the transaction, the chief executive officer now owns 14,861 shares of the company’s stock, valued at approximately $2,010,544.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

Illumina Company Profile

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.