Is Buying Stock Like Illumina, Inc. Good Idea After Today’s Bearish Options Activity?

 Is Buying Stock Like Illumina, Inc. Good Idea After Today's Bearish Options Activity?

In today’s session Illumina, Inc. (ILMN) recorded an unusually high (505) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious ILMN decrease. With 505 contracts traded and 1534 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: ILMN161118P00125000 closed last at: $1.8 or 28% down. About 162,289 shares traded hands. Illumina, Inc. (NASDAQ:ILMN) has declined 2.67% since March 16, 2016 and is downtrending. It has underperformed by 8.21% the S&P500.

Illumina, Inc. (NASDAQ:ILMN) Ratings Coverage

Out of 22 analysts covering Illumina Inc (NASDAQ:ILMN), 7 rate it a “Buy”, 1 “Sell”, while 14 “Hold”. This means 32% are positive. $250 is the highest target while $130 is the lowest. The $173.68 average target is 18.79% above today’s ($146.21) stock price. Illumina Inc has been the topic of 45 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Cantor Fitzgerald maintained it with “Hold” rating and $155 target price in Tuesday, October 11 report. Cowen & Co maintained Illumina, Inc. (NASDAQ:ILMN) rating on Friday, October 2. Cowen & Co has “Outperform” rating and $220 price target. Morgan Stanley maintained the stock with “Equal-Weight” rating in Tuesday, April 19 report. Barclays Capital maintained Illumina, Inc. (NASDAQ:ILMN) rating on Tuesday, October 13. Barclays Capital has “Equal-Weight” rating and $170 price target. The stock of Illumina, Inc. (NASDAQ:ILMN) has “Neutral” rating given on Monday, August 22 by CL King. The stock of Illumina, Inc. (NASDAQ:ILMN) has “Neutral” rating given on Tuesday, October 6 by Goldman Sachs. Morgan Stanley maintained Illumina, Inc. (NASDAQ:ILMN) rating on Tuesday, May 3. Morgan Stanley has “Equal-Weight” rating and $130 price target. Canaccord Genuity maintained the shares of ILMN in a report on Wednesday, July 22 with “Buy” rating. The stock of Illumina, Inc. (NASDAQ:ILMN) has “Neutral” rating given on Tuesday, October 11 by Citigroup. The firm has “Market Perform” rating given on Thursday, January 7 by Wells Fargo.

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.
Td Asset has 0.02% invested in the company for 95,586 shares. Reliance Tru Of Delaware last reported 0.03% of its portfolio in the stock. The New Jersey-based Prudential Fincl has invested 0.05% in Illumina, Inc. (NASDAQ:ILMN). Checchi Advisers Limited Liability Corp has invested 0.02% of its portfolio in Illumina, Inc. (NASDAQ:ILMN). The Pennsylvania-based Federated Investors Pa has invested 0% in Illumina, Inc. (NASDAQ:ILMN). Ithaka Group accumulated 114,548 shares or 2.33% of the stock. Moreover, Orbimed Advsr Ltd has 1.24% invested in Illumina, Inc. (NASDAQ:ILMN) for 846,200 shares. Commerzbank Aktiengesellschaft Fi holds 0.01% or 13,942 shares in its portfolio. The Sweden-based Nordea Investment Mgmt Ab has invested 0% in Illumina, Inc. (NASDAQ:ILMN). Brown Advisory last reported 0.01% of its portfolio in the stock. Bnp Paribas Inv Prtnrs Sa, a France-based fund reported 18,920 shares. Bnp Paribas Arbitrage last reported 41,098 shares in the company. Pittenger And Anderson owns 65 shares or 0% of their US portfolio. Somerville Kurt F has 0.57% invested in the company for 17,946 shares. Putnam Invests Llc last reported 3,000 shares in the company.

Insider Transactions: Since April 27, 2016, the stock had 0 buys, and 28 sales for $17.42 million net activity. The insider FLATLEY JAY T sold 10,000 shares worth $1.50 million. 2,141 shares were sold by HENRY CHRISTIAN O, worth $301,532 on Tuesday, May 17. Dadswell Charles sold $1.34M worth of Illumina, Inc. (NASDAQ:ILMN) on Wednesday, July 27. EASTHAM KARIN sold $726,750 worth of stock. WHITFIELD ROY A also sold $533,672 worth of Illumina, Inc. (NASDAQ:ILMN) shares. Shares for $685,535 were sold by BOWMAN A BLAINE on Thursday, May 12. 300 Illumina, Inc. (NASDAQ:ILMN) shares with value of $52,287 were sold by EPSTEIN ROBERT S.

Illumina, Inc. offers sequencing and array solutions for genetic analysis. The company has a market cap of $22.04 billion. The Company’s services and products serve clients in a range of markets, enabling the adoption of genomic solutions in research and clinical settings. It has a 50.26 P/E ratio. 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.

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.

More recent Illumina, Inc. (NASDAQ:ILMN) news were published by: Foxbusiness.com which released: “3 Warning Signs from Illumina, Inc.’s Q3 Preview” on October 12, 2016. Also Investorplace.com published the news titled: “Why Alcoa Inc (AA), Illumina, Inc. (ILMN) and Seagate Technology PLC (STX) Are …” on October 11, 2016. Investorplace.com‘s news article titled: “3 Stocks to Watch Tuesday: Illumina, Inc. (ILMN), Seagate Technology PLC (STX …” with publication date: October 11, 2016 was also an interesting one.

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