Illumina Plans To Boost Revenue Growth Into High Single Digits By 2027; Stock Down

(RTTNews) - Illumina, Inc. (ILMN), Tuesday announced a strategy to accelerate revenue growth into high single digits over the next three years by bringing new innovations in the core genomics portfolio.

The company also plans to achieve double-digit to teen growth in adjusted earnings per share from 2025 to 2027 by enhancing revenue growth, leveraging operational efficiencies, and using systematic approach to allocate its free cash flow.

Moreover, Illumina has partnered with the Broad Institute of MIT and Harvard, aiming to advance single-cell sequencing and accelerate adoption of high-capacity single-cell experiments.

Currently, Illumina's stock is trading at $114.99, down 7.67 percent on the Nasdaq.