Illumina Misses Revenue Guidance in Third Quarter; No Major Changes to $130 Fair Value Estimate
Shares of Illumina fell over 20% Oct. 11 as the firm announced third-quarter revenue below its previous guidance, largely due to higher-than-expected declines in high throughput sequencing instruments. We may make some minor changes to our model, but we don’t plan to make any significant changes to our $130 per share fair value estimate, as we had already incorporated sluggish growth in this category into our near-term forecast. Despite the increasing saturation of instruments in the research ma...Illumina is engaged in sequencing- and array-based solutions for genetic and genomic analysis. The company provides whole-genome sequencing, genotyping, noninvasive prenatal testing (NIPT), and product support services. Using the company's services, customers can perform whole-genome sequencing projects and microarray projects (including large-scale genotyping studies and whole-genome association studies). The company provides NIPT services through its partner laboratories that direct samples to the company on a test send-out basis in its Clinical Laboratory Improvements Amendments-certified, College of Pathologists-accredited laboratory. The company also provides support services to customers who have purchased its products.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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