Fulgent Genetics (NASDAQ:FLGT) Issues FY 2021 Earnings Guidance

Fulgent Genetics (NASDAQ:FLGT) updated its FY 2021 earnings guidance on Tuesday. The company provided earnings per share guidance of $16.000-$16.000 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $14.240. The company issued revenue guidance of $930 million-$930 million, compared to the consensus revenue estimate of $948.20 million.Fulgent Genetics also updated its Q4 2021 guidance to EPS.

FLGT has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Fulgent Genetics from a hold rating to a buy rating and set a $90.00 target price for the company in a report on Tuesday, November 9th. Credit Suisse Group raised their price objective on shares of Fulgent Genetics from $55.00 to $65.00 and gave the company an underperform rating in a research note on Tuesday, August 10th.

FLGT stock traded up $2.80 during trading on Thursday, hitting $89.40. The stock had a trading volume of 317,860 shares, compared to its average volume of 1,088,262. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 4.66 and a beta of 1.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.23 and a current ratio of 4.23. The company’s 50 day moving average price is $85.51 and its two-hundred day moving average price is $85.32. Fulgent Genetics has a 1-year low of $35.19 and a 1-year high of $189.89.

In other news, CFO Paul Kim sold 500 shares of the business’s stock in a transaction on Thursday, November 18th. The shares were sold at an average price of $97.46, for a total transaction of $48,730.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Hanlin Gao sold 311 shares of the business’s stock in a transaction dated Tuesday, November 16th. The stock was sold at an average price of $95.50, for a total value of $29,700.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,645 shares of company stock valued at $437,259. Insiders own 31.00% of the company’s stock.

A hedge fund recently raised its stake in Fulgent Genetics stock. Bank of New York Mellon Corp lifted its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 7.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 207,314 shares of the company’s stock after purchasing an additional 13,890 shares during the period. Bank of New York Mellon Corp owned 0.69% of Fulgent Genetics worth $18,648,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc is a technology company, which engages in the provision of gene testing and sequencing solutions. It offers genes and panels, known mutation, hereditary cancer, carrier screening, and tumor profiling solutions. The company was founded on May 13, 2016 and is headquartered in Temple City, CA.

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Earnings History and Estimates for Fulgent Genetics (NASDAQ:FLGT)

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