Notable Price Action: What’s Illumina, Inc. Downside After Today’s Big Decline?

Notable Price Action: What's Illumina, Inc. Downside After Today's Big Decline?

The stock of Illumina, Inc. (NASDAQ:ILMN) is a huge mover today! About 7.81M shares traded hands or 810.36% up from the average. Illumina, Inc. (NASDAQ:ILMN) has risen 22.88% since March 8, 2016 and is uptrending. It has outperformed by 13.56% the S&P500.
The move comes after 8 months negative chart setup for the $20.39 billion company. It was reported on Oct, 11 by We have $127.71 PT which if reached, will make NASDAQ:ILMN worth $1.63 billion less.

Analysts await Illumina, Inc. (NASDAQ:ILMN) to report earnings on October, 18. They expect $0.91 EPS, up 13.75% or $0.11 from last year’s $0.8 per share. ILMN’s profit will be $133.66 million for 38.16 P/E if the $0.91 EPS becomes a reality. After $0.86 actual EPS reported by Illumina, Inc. for the previous quarter, Wall Street now forecasts 5.81% EPS growth.

Illumina, Inc. (NASDAQ:ILMN) Ratings Coverage

Out of 21 analysts covering Illumina Inc (NASDAQ:ILMN), 8 rate it a “Buy”, 0 “Sell”, while 13 “Hold”. This means 38% are positive. Illumina Inc has been the topic of 40 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Cowen & Co maintained it with “Outperform” rating and $180 target price in Tuesday, April 19 report. The rating was maintained by Barclays Capital on Tuesday, October 13 with “Equal-Weight”. On Wednesday, August 26 the stock rating was initiated by Cantor Fitzgerald with “Buy”. The firm has “Buy” rating given on Wednesday, May 4 by Citigroup. The firm has “Neutral” rating given on Wednesday, July 22 by Janney Capital. Piper Jaffray maintained Illumina, Inc. (NASDAQ:ILMN) on Wednesday, October 21 with “Overweight” rating. Goldman Sachs maintained the stock with “Neutral” rating in Tuesday, October 6 report. The company was downgraded on Thursday, October 1 by Leerink Swann. Stifel Nicolaus maintained Illumina, Inc. (NASDAQ:ILMN) on Monday, December 21 with “Buy” rating. As per Tuesday, April 19, the company rating was maintained by Morgan Stanley.

According to Zacks Investment Research, “Illumina Inc. is a leading developer of next-generation tools for the large-scale analysis of genetic variation and function. The company’s tools will provide information that could be used to improve drugs and therapies, customize diagnoses and treatment, and cure disease. The company is developing a comprehensive line of products that can address the scale of experimentation and the breadth of functional analysis required to achieve the goals of molecular medicine.”

Insitutional Activity: The institutional sentiment decreased to 1.1 in Q2 2016. Its down 0.03, from 1.13 in 2016Q1. The ratio dropped, as 66 funds sold all Illumina, Inc. shares owned while 150 reduced positions. 46 funds bought stakes while 191 increased positions. They now own 137.98 million shares or 3.82% less from 143.46 million shares in 2016Q1.
Acadian Asset Management Limited Liability Corporation holds 3,937 shares or 0% of its portfolio. F&V Cap Management Lc has 1,568 shares for 0.16% of their US portfolio. The Washington-based Washington Trust Comml Bank has invested 0% in Illumina, Inc. (NASDAQ:ILMN). Teacher Retirement Systems Of Texas owns 123,121 shares or 0.12% of their US portfolio. Riverpark Advisors Limited Liability Com holds 0.93% of its portfolio in Illumina, Inc. (NASDAQ:ILMN) for 13,461 shares. Ironbridge Mngmt Ltd Partnership, a Illinois-based fund reported 25,758 shares. Edgewood Management holds 4.86M shares or 5.01% of its portfolio. Pension Ser has 0.12% invested in the company for 98,099 shares. Moreover, Next Gp Inc has 0.13% invested in Illumina, Inc. (NASDAQ:ILMN) for 3,006 shares. De Burlo Gp last reported 24,817 shares in the company. Cambridge Research Advsrs Inc last reported 2,851 shares in the company. Gulf Savings Bank (Uk) last reported 0.1% of its portfolio in the stock. Blackrock Fund Advsr, a California-based fund reported 4.32 million shares. Rosenblum Silverman Sutton S F Inc Ca holds 3.65% of its portfolio in Illumina, Inc. (NASDAQ:ILMN) for 54,150 shares. The Missouri-based Jag Mgmt Limited Liability has invested 0.48% in Illumina, Inc. (NASDAQ:ILMN).

Insider Transactions: Since April 12, 2016, the stock had 0 insider buys, and 29 insider sales for $18.01 million net activity. The insider FLATLEY JAY T sold 10,000 shares worth $1.50 million. Stapley Marc sold $219,543 worth of stock or 1,270 shares. $51,081 worth of shares were sold by EPSTEIN ROBERT S on Monday, August 22. Bianchi Paul L sold $1.17 million worth of stock or 6,681 shares. The insider BOWMAN A BLAINE sold $675,388. $376,835 worth of Illumina, Inc. (NASDAQ:ILMN) was sold by HENRY CHRISTIAN O. EASTHAM KARIN also sold $726,750 worth of Illumina, Inc. (NASDAQ:ILMN) on Wednesday, June 1.

More important recent Illumina, Inc. (NASDAQ:ILMN) news were published by: which released: “3 Stocks to Watch Tuesday: Illumina, Inc. (ILMN), Seagate Technology PLC (STX …” on October 11, 2016, also published article titled: “Illumina Announces Preliminary Revenue for Third Quarter of Fiscal Year 2016”, published: “Illumina cuts Q3 revenue estimates, shares down 23%” on October 10, 2016. More interesting news about Illumina, Inc. (NASDAQ:ILMN) was released by: and their article: “Mid-Day Market Update: Rent-A-Center Drops On Disappointing Q3 Outlook; Nymox …” with publication date: October 11, 2016.

ILMN Company Profile

Illumina, Inc. (Illumina), incorporated on May 16, 2000, offers sequencing and array solutions for genetic analysis. The Company’s services and products serve clients in a range of markets, enabling the adoption of genomic solutions in research and clinical settings. The Company’s clients include genomic research centers, academic institutions, government laboratories and hospitals, as well as pharmaceutical, biotechnology, agrigenomics and commercial molecular diagnostic laboratories, and consumer genomics companies. Illumina provides sample-to-answer solutions to its clients in various areas of translational and clinical genomics, such as reproductive and genetic health, and oncology. Illumina provides reproductive-health solutions, including preimplantation genetic screening and diagnosis (PGS and PGD), noninvasive prenatal testing (NIPT), and neonatal and genetic health testing. The Company’s BaseSpace platform, which can be hosted onsite or in the cloud, integrates directly with its sequencing instruments, facilitates data sharing, provides data-storage solutions and streamlines analysis. It has activities in the United States, Europe, Asia-Pacific and other markets.

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