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Illumina
‘s systems are the dominant products used to read the sequence of letters in the genomic code of our DNA, and the San Diego-based company says that demand for gene sequencing is hot.
At the annual healthcare conference hosted virtually by JPMorgan Chase yesterday, Illumina said sales grew 39% in 2021 and that analysts’ forecasts for 2022 revenue were too low.
Sales could grow 14% to 16% this year, to as much as $5.24 billion, said Illumina in a press release accompanying its Monday afternoon presentation. Earnings in 2022 could range between $4.00 and $4.20 a share.
The good news is lifting Illumina stock (ticker: ILMN) 10% in Tuesday morning trading, to $399. The
S&P 500
was up 0.2%, and the
Dow Jones Industrial Average
was down 0.1%.
“It’s always good to surprise people on the upside,” Chief Executive Francis deSouza told Barron’s.
By Illumina’s