Illumina, Inc.’s Stock Price Takes a Hit, Down 3.79% to $105.68: Is it Time to Buy?

Illumina, Inc. (ILMN)

105.68 USD -4.16 (-3.79%) Volume: 3.5M

Illuminate your investment portfolio with Illumina, Inc.’s stock price currently at 105.68 USD, despite a dip of -3.79% this trading session and a YTD decrease of -21.90%. With a trading volume of 3.5M, now may be the time to invest in ILMN stock.

Latest developments on Illumina, Inc.

Today, Illumina Inc‘s stock price experienced movements following the completion of the spin-off of GRAIL, a cancer blood test developer once valued at around $7 billion. Despite Grail’s shares falling in its Nasdaq debut after the spin-off, Illumina’s stock rose on the conclusion of the divestment. This marks a significant milestone for both companies as Grail sets out on its own on the public markets, betting big on its flagship cancer test. Illumina Inc. outperformed competitors on a strong trading day, signaling positive investor sentiment towards the completion of the spin-off.

Illumina, Inc. on Smartkarma

Analyst coverage of Illumina Inc on Smartkarma by Baptista Research has highlighted the company’s strong performance in the first quarter of 2024. The company saw increased revenue from strategic partnerships and high throughput consumables, along with the successful delivery of NovaSeq X instruments. Despite this positive outlook, CEO Jacob Thaysen has cautioned about the uncertain global economic environment impacting customer purchasing decisions. The company’s results for the year were particularly promising given the challenges posed by the Coronavirus pandemic.

Baptista Research‘s analysis of Illumina Inc also points towards a successful 2023 but anticipates challenges in 2024 due to ongoing macroeconomic hurdles. The company reported a higher-than-expected consolidated revenue of approximately $1.12 billion in the fourth quarter of 2023, marking a 4% increase year over year. CEO Jacob Thaysen highlighted the successful launch of NovaSeq X as the most successful high-throughput product launch in the company’s history. Despite the positive outlook, the company is preparing for a challenging year ahead amidst continued economic uncertainties.

A look at Illumina, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, Illumina Inc has a mixed long-term outlook. While the company scores moderately well in areas such as value and momentum, it lags behind in terms of dividend, growth, and resilience. This indicates that while Illumina Inc may offer some value and show positive momentum, investors may want to consider the company’s weaker performance in terms of dividend payouts, growth potential, and resilience to market challenges.

Overall, Illumina Inc is a company that develops, manufactures, and markets systems for genetic analysis. With a focus on serving genomic research centers, pharmaceutical companies, academic institutions, and biotechnology companies, Illumina Inc provides a range of products and services for sequencing, genotyping, and gene expression markets. While the company has strengths in certain areas, investors should carefully consider the Smartkarma Smart Scores to assess the long-term outlook for Illumina Inc.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma