Mengis Capital Management Inc. Buys Shares of 9,362 Illumina, Inc. (NASDAQ:ILMN)

Mengis Capital Management Inc. purchased a new position in shares of Illumina, Inc. (NASDAQ:ILMN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,362 shares of the life sciences company’s stock, valued at approximately $1,221,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Platform Technology Partners boosted its stake in Illumina by 4.2% during the third quarter. Platform Technology Partners now owns 3,512 shares of the life sciences company’s stock worth $458,000 after buying an additional 141 shares during the period. Entropy Technologies LP acquired a new position in shares of Illumina in the 3rd quarter worth approximately $1,378,000. Venturi Wealth Management LLC boosted its position in shares of Illumina by 18.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,650 shares of the life sciences company’s stock worth $346,000 after purchasing an additional 422 shares during the period. Weil Company Inc. increased its holdings in Illumina by 10.2% in the 3rd quarter. Weil Company Inc. now owns 21,144 shares of the life sciences company’s stock valued at $2,757,000 after purchasing an additional 1,952 shares during the last quarter. Finally, Catalytic Wealth RIA LLC purchased a new stake in Illumina in the third quarter valued at approximately $212,000. 89.42% of the stock is owned by institutional investors and hedge funds.

Illumina Price Performance

Shares of ILMN opened at $147.62 on Wednesday. The stock has a market cap of $23.41 billion, a PE ratio of -14.82 and a beta of 1.13. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. Illumina, Inc. has a 1-year low of $92.26 and a 1-year high of $156.66. The firm has a fifty day moving average price of $138.84 and a 200 day moving average price of $123.95.

Illumina (NASDAQ:ILMN) last posted its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.26. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 earnings per share. As a group, sell-side analysts anticipate that Illumina, Inc. will post 4.11 EPS for the current year.

Wall Street Analyst Weigh In

ILMN has been the subject of several research analyst reports. Barclays raised their price target on Illumina from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Stephens boosted their price target on shares of Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research note on Tuesday. TD Cowen raised their price objective on shares of Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. UBS Group upped their target price on shares of Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Argus upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Illumina has a consensus rating of “Moderate Buy” and an average target price of $164.00.

Illumina Profile

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.