Illumina (NASDAQ:ILMN) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Illumina (NASDAQ:ILMN) released its earnings results on Tuesday, January 29th. The life sciences company reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.04), Fidelity Earnings reports. Illumina had a return on equity of 24.51% and a net margin of 24.79%. The company had revenue of $867.00 million during the quarter, compared to analysts’ expectations of $865.33 million. During the same quarter in the previous year, the company earned $1.44 EPS. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Illumina updated its FY 2019 guidance to $6.50-6.60 EPS and its FY19 guidance to $6.50-6.60 EPS.

Illumina stock opened at $293.52 on Thursday. The firm has a market cap of $43.44 billion, a PE ratio of 51.31, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The company has a current ratio of 2.49, a quick ratio of 2.27 and a debt-to-equity ratio of 0.23. Illumina has a 1-year low of $216.34 and a 1-year high of $372.61.

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ILMN has been the subject of a number of research analyst reports. Morgan Stanley cut their target price on shares of Illumina from $320.00 to $288.00 and set an “equal weight” rating for the company in a research report on Monday, January 7th. Zacks Investment Research downgraded shares of Illumina from a “buy” rating to a “hold” rating in a research report on Monday, December 31st. Deutsche Bank downgraded shares of Illumina from a “buy” rating to a “hold” rating and set a $296.53 target price for the company. in a research report on Friday, January 25th. Bank of America reiterated a “buy” rating and issued a $355.00 target price on shares of Illumina in a research report on Wednesday, January 30th. Finally, Leerink Swann upgraded shares of Illumina to an “outperform” rating and cut their target price for the stock from $380.00 to $365.00 in a research report on Wednesday, January 30th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $346.40.

In related news, Director Karin Eastham sold 5,000 shares of Illumina stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $294.08, for a total value of $1,470,400.00. Following the transaction, the director now owns 12,655 shares in the company, valued at approximately $3,721,582.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Charles Dadswell sold 124 shares of Illumina stock in a transaction on Friday, February 1st. The stock was sold at an average price of $280.11, for a total transaction of $34,733.64. Following the completion of the transaction, the senior vice president now owns 6,879 shares in the company, valued at approximately $1,926,876.69. The disclosure for this sale can be found here. Insiders have sold a total of 35,947 shares of company stock worth $11,026,616 in the last 90 days. 0.54% of the stock is owned by insiders.

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Illumina Company Profile

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 by synthesis technology 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 allow the detection of known genetic markers on a single array.

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