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ILMN

Illumina

$184.85

0.36 (0.20%)

16:51
10/10/16
10/10
16:51
10/10/16
16:51

Illumina CEO: Several deals may not close in Q4, no longer expecting uptick

Speaking during a conference call regarding the company's Q3 preannouncement, Illumina CEO Francis deSouza stated: "The primary driver of this miss was high-throughput instrument sales compared to our expectations. HiSeq 2500 and 4000 orders in the Americas were lower than expected, and we closed one less HiSeq X system deal than anticipated, resulting in a shipment figure of 26 X units during the quarter. As a result, total sequencing instrument revenue declined 26% year over year, a larger decrease than that anticipated at the beginning of Q3. Sequencing consumables were generally consistent with our expectations. Pull-through across our bench job instruments was in line with our guidance ranges. HiSeq utilization was slightly below $300,000, the low end of its range, and HiSeq X exceeded $725,000, the high end of the range, due primarily to a large, one time stocking order, similar to that seen in Q3 of last year. As you know, our quarter ended a week ago, and our revenue is back-end loaded. Consequently, we are still closing our books... We are also in the midst of rolling up our Q4 forecast... We are no longer counting on the uptick in high-throughput sequencing instruments that we were previously predicting, and there are a number of large binary deals that may or may not close during the quarter."

  • 10

    Oct

  • 01

    Nov

ILMN Illumina
$184.85

0.36 (0.20%)

08/18/16
WELS
08/18/16
NO CHANGE
WELS
Wells Fargo says Thermo Fisher buying Illumina 'makes no sense'
Wells Fargo analyst Tim Evans believes speculation of Thermo Fisher (TMO) acquiring Illumina "makes no sense." The analyst estimates the deal would be about 14% dilutive to Thermo in year one and "would struggle to be neutral" to earnings by year three. Further, the deal would run into "significant regulatory hurdles" since that Illumina holds a near monopoly in high-throughput sequencing, Evans tell investors note. Shares of Illumina are off their highs but remain up 3% after StreetInsider stoked renewed takeout speculation by citing a source saying Thermo may bid $30B for the company.
08/18/16
CANT
08/18/16
NO CHANGE
Target $165
CANT
Speculative Buy
Thermo Fisher unlikely to acquire Illumina, says Cantor
Cantor Fitzgerald analyst Bryan Brokmeier believes it is unlikely that Thermo Fisher (TMO) will attempt to acquire Illumina (ILMN). Even if Thermo were to attempt a deal, the merger would be unlikely to close, Brokmeier tells investors in an intraday research note. If Illumina is a willing seller, however, Roche (RHHBY) may reconsider a bid, the analyst contends. He recommends investors stay on the sidelines with respect to Illumina shares. Brokmeier has a Hold rating on the name with a $165 price target. The analyst continues to believe Roche is the most likely acquirer of Pacific Biosciences (PACB).
08/22/16
KING
08/22/16
DOWNGRADE
KING
Neutral
Illumina downgraded to Neutral from Buy at CL King
CL King analyst David Westenberg downgraded Illumina to Neutral given the recent run-up in the shares and lack of near-term visible catalysts.
09/12/16
SBSH
09/12/16
NO CHANGE
Target $190
SBSH
Buy
Illumina price target raised to $190 from $175 at Citi
Citi analyst Daniel Arias raised his price target for Illumina to $190 after traveling with the company's CFO Marc Stapley and investor relations head Rebecca Chambers. The analyst believes the business "can hold its own" in the second half of 2016 and that shares can move higher in 2017. He keeps a Buy rating on Illumina.

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AVA

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GD

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CHRS

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FIBK

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NRCIA

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CC

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