Genomic sequencing company Illumina Inc. (ILMN - Get Report) announced after market's close Oct. 10 that has over estimated third quarter revenues, causing the entire group of publicly traded healthcare stocks to tumble Tuesday.
San Diego-based Illumina lowered revenue guidance from between $625 million and $630 million to $607 million thanks to "larger than anticipated year-over-year decline in high throughput sequencing instruments" according to an 8-K.
Illumina's shares fell 24.8% or $45.86 on the news, hitting $138.99 per share Tuesday afternoon.
Other movers in the space included Abbott Laboratories (ABT - Get Report) , which saw a 5.3% decline in share price after news that St. Jude Medical (STJ) , which the company is in the process of acquiring, is having issues with its defibrillator batteries. TheStreet previously reported that the news likely won't impact the deal, but Abbot saw a $2.34 decline in share price, reaching $41.16 per share Tuesday afternoon.
Zimmer Biomet Holdings Inc. (ZBH - Get Report) was also on the move, falling 4.5% or $6.15 per share, reaching $126.62 Tuesday afternoon. The company, which makes medical devices for joint therapy, will report earnings on Oct. 31.
Other movers included Vertex Pharmaceuticals (VRTX - Get Report) , which fell 5% to $81.66 per share, likely due to its hefty price tag on its cystic fibrosis drugs, and Agilent Therapeutics (A - Get Report) , which fell 4.2% to $45.69 per share as it appears at analytica China, an investor conference held in Shanghai from Oct. 10-12.