Illumina Inc. (ILMN) Earnings May Surpass Wall Street Expectations

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The first quarter of 2021 saw record orders and strong sales for Illumina Inc. (ILMN). There is no detail or profit in this preliminary report.

Last trading day, Illumina Inc. (ILMN) closed at $400.55, down -3.44%. The volume of shares traded was 1.0 million, a lower figure than the average volume of 1.27 million over the last three months. The ILMN stock reported an earnings-per-share ratio of 4.43. The stock of ILMN has gained 8.56% of its value in the last five trading sessions and has moved 4.41% over the previous month, but it has accumulated 8.26% over the same period the previous year. The stock’s 50-day moving average of $428.08 is higher than the 200-day moving average of $366.71. Furthermore, the stock’s RSI is currently 47.51.

According to Illumina, it received $ 1.4 billion in first-quarter orders, up 28 % YoY, while revenues for the same quarter rose 26 % to $ 1.1 billion. The ILMN stock now expects its revenue to grow by 25 – 28 %.

The first quarter saw sales of sequencing instruments more than double and sales of consumables by 25%. In general, Illumina Inc. (ILMN) customers order products that are pre-coronavirus level or higher.

Earnings information is not available. Wall Street is expecting a downturn of double digits. However, analysts’ expectations of sales growth were 2x lower than those stated by Illumina. So the actual results may surpass expectations.

Since the coronaviruses pandemic erupted, Illumina has become actively involved in detecting them with its COVIDSeq test. The momentum seems to be continuing to this day.

The field of DNA sequencing is a promising one in biotechnology. Personalized medicine is gaining more and more popularity, and DNA analysis plays a crucial role in individualizing treatment. Furthermore, Illumina Inc. (ILMN) is a beneficiary of the COVID-19 crisis, demonstrating the demand for new diagnostic tools.

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