Should You Add Illumina Stock to Your Portfolio Now?

Illumina (ILMN) raised its 2026 revenue and EPS guidance following a 9.5% year-over-year revenue increase in Q2, driven by strong oncology clinical growth and expanded multiomics offerings. However, the company faces margin pressure from tariffs, freight costs, and memory inflation, with adjusted gross margin declining 120 basis points year-over-year despite manageable leverage and sufficient liquidity.