Illumina, Inc. (NASDAQ:ILMN) posted its quarterly earnings results on Tuesday. The life sciences company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.14, Briefing.com reports. The business had revenue of $662 million during the quarter, compared to the consensus estimate of $642.38 million. Illumina had a net margin of 30.27% and a return on equity of 20.39%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 earnings per share. Illumina updated its FY17 guidance to $3.60-3.70 EPS.
Illumina (NASDAQ:ILMN) traded down 0.43% during trading on Thursday, reaching $197.00. 1,212,805 shares of the company were exchanged. Illumina has a 1-year low of $119.37 and a 1-year high of $198.39. The company’s 50-day moving average price is $174.66 and its 200-day moving average price is $171.89. The stock has a market capitalization of $28.76 billion, a P/E ratio of 39.87 and a beta of 0.83.
In related news, Director Jay T. Flatley sold 15,000 shares of Illumina stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $170.77, for a total transaction of $2,561,550.00. Following the completion of the sale, the director now owns 534,176 shares in the company, valued at approximately $91,221,235.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Marc Stapley sold 2,000 shares of Illumina stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $173.56, for a total transaction of $347,120.00. Following the sale, the executive vice president now owns 39,941 shares of the company’s stock, valued at approximately $6,932,159.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 123,639 shares of company stock valued at $21,980,677. 1.60% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in ILMN. Vanguard Group Inc. raised its stake in shares of Illumina by 3.0% in the first quarter. Vanguard Group Inc. now owns 9,648,842 shares of the life sciences company’s stock worth $1,646,479,000 after buying an additional 285,379 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Illumina by 69.0% in the first quarter. Jennison Associates LLC now owns 5,254,274 shares of the life sciences company’s stock worth $896,589,000 after buying an additional 2,144,576 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Illumina by 8.0% in the first quarter. Geode Capital Management LLC now owns 1,458,071 shares of the life sciences company’s stock worth $248,460,000 after buying an additional 107,941 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Illumina by 40.1% in the first quarter. TIAA CREF Investment Management LLC now owns 948,121 shares of the life sciences company’s stock worth $161,787,000 after buying an additional 271,461 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Illumina by 3.9% in the first quarter. Legal & General Group Plc now owns 651,314 shares of the life sciences company’s stock worth $111,142,000 after buying an additional 24,613 shares during the last quarter. Institutional investors own 93.68% of the company’s stock.
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ILMN has been the subject of several recent research reports. Leerink Swann reissued a “buy” rating on shares of Illumina in a research note on Wednesday, April 5th. TheStreet raised shares of Illumina from a “c+” rating to a “b” rating in a research note on Thursday, April 6th. Bank of America Corporation boosted their price target on shares of Illumina from $175.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. Vetr downgraded shares of Illumina from a “strong-buy” rating to a “buy” rating and set a $193.40 price target for the company. in a research note on Tuesday, April 11th. Finally, Zacks Investment Research downgraded shares of Illumina from a “buy” rating to a “hold” rating in a research note on Thursday, April 13th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. Illumina currently has an average rating of “Hold” and a consensus target price of $174.38.
About Illumina
Illumina, Inc (Illumina) is a provider of sequencing- and array-based solutions for genetic analysis. The Company operates through two segments: Core Illumina and the consolidated variable interest entities (VIEs), which include the activities of GRAIL, Inc (GRAIL) and Helix Holdings I, LLC (Helix). Core Illumina consists of its core operations.
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