Illumina (NASDAQ:ILMN) Updates FY24 Earnings Guidance

Illumina (NASDAQ:ILMN) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $4.05 to $4.15 for the period, compared to the consensus earnings per share estimate of $3.90. The company issued revenue guidance of -3% yr/yr or $4.369 billion, compared to the consensus revenue estimate of $4.35 billion. Illumina also updated its FY 2024 guidance to 4.050-4.150 EPS.

Analysts Set New Price Targets

A number of research analysts have weighed in on ILMN shares. Stephens reaffirmed an “overweight” rating and set a $170.00 price target on shares of Illumina in a research report on Wednesday, July 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $252.00 price objective on shares of Illumina in a research note on Thursday, October 10th. Daiwa America upgraded shares of Illumina to a “strong-buy” rating in a research report on Friday, August 16th. Leerink Partners upped their price target on shares of Illumina from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Argus upgraded Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.50.

Illumina Stock Up 2.5 %

Shares of NASDAQ:ILMN traded up $3.73 during midday trading on Monday, hitting $153.49. 4,100,941 shares of the company’s stock were exchanged, compared to its average volume of 1,996,650. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. The company has a market cap of $24.45 billion, a PE ratio of -8.02 and a beta of 1.13. The stock has a 50 day moving average price of $136.39 and a 200-day moving average price of $122.65. Illumina has a 12 month low of $89.00 and a 12 month high of $155.37.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.24. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the company earned $0.32 earnings per share. Illumina’s revenue was down 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Illumina will post 3.63 EPS for the current fiscal year.

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.