Illumina, Inc. (NASDAQ:ILMN) – Research analysts at Piper Jaffray Companies upped their FY2018 earnings per share (EPS) estimates for Illumina in a research report issued on Tuesday, January 8th. Piper Jaffray Companies analyst W. Quirk now forecasts that the life sciences company will post earnings per share of $5.76 for the year, up from their previous forecast of $5.74. Piper Jaffray Companies currently has a “Overweight” rating and a $380.00 price target on the stock. Piper Jaffray Companies also issued estimates for Illumina’s Q4 2018 earnings at $1.36 EPS, Q1 2019 earnings at $1.55 EPS, Q2 2019 earnings at $1.58 EPS, Q3 2019 earnings at $1.68 EPS, Q4 2019 earnings at $1.75 EPS and FY2019 earnings at $6.56 EPS.
Other equities analysts have also recently issued research reports about the company. BidaskClub cut Illumina from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 4th. UBS Group initiated coverage on Illumina in a research note on Tuesday, October 9th. They set a “neutral” rating and a $340.00 target price on the stock. Deutsche Bank lifted their target price on Illumina to $350.00 and gave the company a “buy” rating in a research note on Friday, October 12th. Barclays lifted their target price on Illumina from $350.00 to $370.00 and gave the company an “overweight” rating in a research note on Wednesday, October 24th. Finally, Zacks Investment Research cut Illumina from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $340.93.
Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Tuesday, October 23rd. The life sciences company reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.26. The firm had revenue of $853.00 million for the quarter, compared to the consensus estimate of $825.65 million. Illumina had a return on equity of 27.10% and a net margin of 21.09%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.11 EPS.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Enhancement Group LLC bought a new stake in shares of Illumina in the 3rd quarter valued at approximately $400,000. Nan Shan Life Insurance Co. Ltd. bought a new stake in shares of Illumina in the 3rd quarter valued at approximately $52,099,000. Handelsbanken Fonder AB bought a new stake in shares of Illumina in the 3rd quarter valued at approximately $8,442,000. Pacer Advisors Inc. grew its stake in shares of Illumina by 18.2% in the 3rd quarter. Pacer Advisors Inc. now owns 13,597 shares of the life sciences company’s stock valued at $4,991,000 after buying an additional 2,092 shares in the last quarter. Finally, Jackson Square Partners LLC grew its stake in shares of Illumina by 7.7% in the 3rd quarter. Jackson Square Partners LLC now owns 1,429,221 shares of the life sciences company’s stock valued at $524,609,000 after buying an additional 102,639 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.
In related news, insider Francis A. Desouza sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $345.90, for a total value of $1,037,700.00. Following the completion of the sale, the insider now owns 65,443 shares of the company’s stock, valued at approximately $22,636,733.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert S. Epstein sold 1,346 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $311.86, for a total value of $419,763.56. Following the completion of the sale, the director now directly owns 6,447 shares of the company’s stock, valued at approximately $2,010,561.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,104 shares of company stock worth $16,724,467. Company insiders own 0.54% of the company’s stock.
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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