Key Takeaways From Illumina's (ILMN) Q2 Earnings

Illumina (ILMN - Analyst Report) Inc. is a biotech company that specializes in genetic sequencing.  Using their resources, the company has mapped gene variations associated with health, disease, and drug responses.  The company is a global leader in genomics.
 
Volume has been higher than usual for the stock today.  There has been some selling activity associated with shares, as share prices were down 1% at the closing bell.  This suggests that investors were bearish on ILMN going into the earnings report.  It’s worth noting that some higher ups within the company have sold a considerable amount of their shares in the last week. 
 
Our consensus has been climbing up in the last 90 days, going from an EPS consensus of $0.75 to $0.78.
 
In the last week, Illumina’s rank has gone from a Zacks Rank #3 (Hold), to a Zacks Rank #2 (Buy). 
 
Earnings: Illumina posted earnings of $0.80 per share, beating our consensus of $0.78.
 
Revenue: The company posted revenues of $539 million, missing on our consensus of $543 million.
 
Key Stats:  Revenues were 21% higher than they were in Q2 2014 ($448 million).  Net income in Q2 2015 came in at $102.24 million, much higher than the $46.6 million Illumina posted in Q2 2014. 
 
Stock Price:  Shares are taking a beating in after hour trading.  Shares have lost about 8% of their value since the closing bell, and are currently trading for $218.02.