4 Stocks Driving The Drugs Industry Higher

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Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 47 points (-0.3%) at 15,521 as of Wednesday, July 24, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 716 issues advancing vs. 2,228 declining with 95 unchanged.

The Drugs industry currently sits down 0.6% versus the S&P 500, which is down 0.3%. Top gainers within the industry include Novo Nordisk A/S ( NVO), up 1.0%, and Biogen Idec ( BIIB), up 0.6%. On the negative front, top decliners within the industry include Regeneron Pharmaceuticals ( REGN), down 1.0%, and Teva Pharmaceutical Industries ( TEVA), down 0.5%.

TheStreet would like to highlight 4 stocks pushing the industry higher today:

4. Illumina ( ILMN) is one of the companies pushing the Drugs industry higher today. As of noon trading, Illumina is up $8.60 (11.7%) to $82.37 on heavy volume. Thus far, 3.1 million shares of Illumina exchanged hands as compared to its average daily volume of 1.3 million shares. The stock has ranged in price between $78.78-$83.23 after having opened the day at $79.45 as compared to the previous trading day's close of $73.77.

Illumina, Inc. develops, manufactures, and markets life science tools and integrated systems for the analysis of genetic variation and biological function in North America, Europe, Latin America, the Asia-Pacific, the Middle East, and South Africa. Illumina has a market cap of $9.3 billion and is part of the health care sector. Shares are up 34.4% year to date as of the close of trading on Tuesday. Currently there are 8 analysts that rate Illumina a buy, no analysts rate it a sell, and 8 rate it a hold.

TheStreet Ratings rates Illumina as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Illumina Ratings Report now.

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