Illumina (ILMN) Releases Earnings Results, Misses Expectations By $-0.03 EPS

Illumina (ILMN) reported quarterly earnings results on Tuesday, May-3-2016. The company reported $0.71 earnings per share for the quarter, missing the analyst consensus estimate by $-0.03. Analysts had a consensus of $0.74. The company posted revenue of $571.80 million in the period, compared to analysts expectations of $580.44 million. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS.

Many Wall Street Analysts have commented on Illumina. Shares were Reiterated by Morgan Stanley on May 3, 2016 to “Overweight” and Lowered the Price Target to $ 130 from a previous price target of $140 .Shares were Reiterated by UBS on May 3, 2016 to “Buy” and Lowered the Price Target to $ 180 from a previous price target of $210 .Illumina was Downgraded by BofA/Merrill to ” Neutral” on Apr 19, 2016.

Illumina opened for trading at $134.72 and hit $136.99 on the upside on Monday, eventually ending the session at $135.92, with a gain of 0.69% or 0.93 points. The heightened volatility saw the trading volume jump to 19,60,715 shares. Company has a market cap of $19,980 M.

In a different news, on Apr 28, 2016, Christian O Henry (EVP & Chief Commercial Officer) sold 2,141 shares at $138.53 per share price. According to the SEC, on Apr 20, 2016, Paul L Bianchi (Sr. VP, Human Resources) sold 1,884 shares at $175.00 per share price. On Apr 15, 2016, A Blaine Bowman (director) sold 5,000 shares at $172.96 per share price, according to the Form-4 filing with the securities and exchange commission.

Illumina Inc. is engaged in production development of sequencing-and array-based solutions for genetic analysis. The Company offers integrated systems consumables and analysis tools for genetic analysis. It also manufactures sequencing and array platforms reagent kits and scanning equipment. Its customers include genomic research centers academic institutions government laboratories hospitals and reference laboratories pharmaceutical biotechnology agrigenomics commercial molecular diagnostic and consumer genomics companies. Its sequencing instruments perform a range of nucleic-acid analyses across a range of sample sizes. Its products and services are used for basic analysis and research including de novo sequencing genetic variation analysis epigenetics and targeted screening among others. It also provides products and services for other life sciences applied markets such as agrigenomics. It also offers Clarity Run Manager Clarity LIMS Silver and Clarity LIMS Gold.


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