Tuesday morning, Illumina Inc. (NASDAQ: ILMN) announced the completion of its acquisition of GenoLogics Life Science Software.

Illumina President Francis deSouza said:

We look forward to working with the talented team at GenoLogics and to further integrate their life science software as part of the overall Illumina informatics solution. Adopted by more than 120 genomic labs worldwide, GenoLogics’s Clarity LIMS software strengthens our industry leading portfolio of genetic analysis solutions.

GenoLogics Life Science Software is a developer of industry leading laboratory information management systems (LIMS) for life sciences organizations.

The driving thematic force behind Illumina, now and for the coming years, is that it is the leader in genetic sequencing and array-based solutions. Certainly you have heard about the sub-$1,000 genome. If not, you have now, and you can thank Illumina for that. The company is leading in the race toward genetic analysis for personalized medicine.

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When Illumina reported its most recent quarterly financial results, it posted $0.80 in earnings per share (EPS) on $539 million in revenue. That not only topped the consensus analyst forecast, but it was up handily from the EPS of $0.57 and $448 million in revenue in the same period of the previous year.

The company said for the full year it expects revenue to increase 20% year over year, while EPS is expected to be in the range of $3.39 to $3.45. The consensus estimates now are $3.46 in EPS and revenue of $2.25 billion for the full year.

Janney Capital Markets said in the wake of the second-quarter report:

With revenue growth decelerating, we see limited expansion to the 50.4x FY17 PE multiple on ILMN. We lower our rating from Buy to Neutral and our Fair value remains $240 per share. … We expected better performance from the array segment (12% of revenue), but a decline of 15-20% pulled down total revenue growth. Arrays provide an economical solution to SNP detection versus sequencing and competition is more intense than whole genome sequencing. Total sequencer growth was a robust 28% and the remainder of 2015 implies 23-27% growth.

More recently, Illumina was reiterated as Buy at Mizuho Securities, which raised its price target to $250. Cantor Fitzgerald initiated coverage on Illumina with a Buy rating and a $265 price target.

Illumina shares closed down 2% Monday, at $197.61 in a 52-week trading range of $145.12 to $242.37. The consensus analyst price target is $239.52. The company has a market cap of about $28.6 billion.

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