Illumina (NASDAQ:ILMN) Announces Quarterly Earnings Results

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 Stock Performance

ILMN traded down $0.69 during trading on Thursday, hitting $123.99. The stock had a trading volume of 1,627,083 shares, compared to its average volume of 1,697,142. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.66 and a quick ratio of 1.29. The company has a 50 day moving average price of $130.57 and a 200-day moving average price of $127.14. Illumina has a one year low of $89.00 and a one year high of $213.91. The firm has a market cap of $19.75 billion, a price-to-earnings ratio of -16.99 and a beta of 1.20.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of research firms recently weighed in on ILMN. TD Cowen downgraded shares of Illumina from an “outperform” rating to a “market perform” rating and set a $144.00 target price for the company. in a research report on Thursday, January 4th. StockNews.com upgraded Illumina from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Stephens restated an “overweight” rating and issued a $170.00 price target on shares of Illumina in a research note on Wednesday, April 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $253.00 price objective on shares of Illumina in a research note on Tuesday, April 9th. Finally, HSBC downgraded Illumina from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Illumina presently has a consensus rating of “Hold” and an average price target of $167.70.

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.