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Illumina (ILMN) Rides on New Products, Low Margin a Concern

On Aug 3, 2017, we issued an updated research report on San Diego, CA-based Illumina Inc. ILMN, a company providing tools and integrated systems for the analysis of genetic variation and function.

Illumina exited the second quarter on a solid note, with both earnings and revenues beating the Zacks Consensus Estimate. The top line was strong with new product launches including the VeriSeq NIPT Solution in Europe and the strength of NovaSeq. More good news is that the rate of NIPT adoption is increasing outside the U.S.

Notably, over the last three months, Illumina has been trading above the broader industry. The stock has grown 4.8% in this period compared with a 3.9% gain of the broader industry. The company’s raised guidance is also encouraging enough to indicate that this bullish trend will continue in the coming period.

Also, demand for NovaSeq surpassed the company’s expectations with orders beating forecast over 30%. More than 230 NovaSeq instruments have been ordered since its launch in January. We are also looking forward to GRAIL, Illumina’s own-developed...