Janney Montgomery Scott Downgrades Illumina (ILMN) to Sell
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Canaccord Genuity Cuts Price Target on Illumina (ILMN) to $135 Following Weak 3Q Preannouncement
October 11, 2016 9:53 AM EDTCanaccord Genuity maintained a Hold rating on Illumina (NASDAQ: ILMN), and cut the price target to $135.00 (from $165.00), following the company's 3Q preannouncement. After the close, ILMN preannounced revenues of ~$607M, ~$21M below the Street's $628M and the $625-630M guide. ILMN did not report adjusted EPS but the revenue shortfall implies EPS of $0.87, below the Street's $0.91 estimate.
Analyst Mark... More
Illumina (ILMN) Prelim. Q3 Revenue Misses Views; Offers Light Q4 Outlook
October 10, 2016 4:06 PM EDT(Updated - October 10, 2016 4:18 PM EDT)
Illumina, Inc. (Nasdaq: ILMN) announced estimated third quarter revenue of approximately $607 million, a 10% increase compared to $550 million in the third quarter of 2015. This unaudited estimate, based on management's preliminary financial analysis, is lower than the third quarter revenue guidance of $625 million to $630 million.
(Note: The Street sees revenue of $628.1 million.)
The shortfall in quarterly revenue was driven by a larger than anticipated year-over-year decline in high throughput... More
