NEW YORK (TheStreet) -- Illumina (ILMN - Get Report) shares are up 9.75% to $180.50 in after-hours trading on Monday after the company reported third quarter earnings results ahead of analysts expectations.

The San Diego-based life sciences diagnostic company reported third quarter earnings of 77 cents per diluted share, well ahead of the 56 cents per diluted share analysts were expecting for the period.

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Revenue for the quarter was $480.6 million, eclipsing analysts expectations of $451.4 million.

Illumina, whose shares have climbed 49% since the beginning of the year, expects earnings between $2.63 to $2.65 per share for the full year. 

TheStreet Ratings team rates ILLUMINA INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate ILLUMINA INC (ILMN) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, expanding profit margins, good cash flow from operations and compelling growth in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

ILMN Chart ILMN data by YCharts

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