Fulgent Genetics (NASDAQ:FLGT) Issues Quarterly Earnings Results

Fulgent Genetics (NASDAQ:FLGT) announced its quarterly earnings data on Friday. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.36, FiscalAI reports. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. The business had revenue of $84.07 million during the quarter, compared to analyst estimates of $81.43 million. Fulgent Genetics updated its FY 2025 guidance to 0.300-0.300 EPS.

Fulgent Genetics Trading Up 18.2%

Shares of NASDAQ:FLGT opened at $26.36 on Friday. The company has a market cap of $806.85 million, a price-to-earnings ratio of -15.88 and a beta of 0.92. Fulgent Genetics has a 12 month low of $14.57 and a 12 month high of $27.36. The company has a 50-day moving average price of $22.68 and a 200 day moving average price of $20.90.

Insiders Place Their Bets

In other Fulgent Genetics news, COO Jian Xie sold 1,199 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $21.48, for a total transaction of $25,754.52. Following the sale, the chief operating officer directly owned 365,249 shares in the company, valued at $7,845,548.52. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 5,577 shares of company stock worth $121,024 over the last quarter. Insiders own 31.76% of the company’s stock.

Hedge Funds Weigh In On Fulgent Genetics

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Fulgent Genetics during the second quarter worth $49,000. Headlands Technologies LLC lifted its holdings in shares of Fulgent Genetics by 108.1% in the 2nd quarter. Headlands Technologies LLC now owns 14,650 shares of the company’s stock worth $291,000 after acquiring an additional 7,609 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Fulgent Genetics by 14.1% in the 2nd quarter. Legal & General Group Plc now owns 21,025 shares of the company’s stock worth $418,000 after acquiring an additional 2,599 shares during the last quarter. Amundi boosted its stake in shares of Fulgent Genetics by 289.2% during the 1st quarter. Amundi now owns 34,316 shares of the company’s stock worth $583,000 after purchasing an additional 25,500 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in Fulgent Genetics by 96.9% during the 2nd quarter. Quantinno Capital Management LP now owns 29,417 shares of the company’s stock valued at $585,000 after purchasing an additional 14,480 shares during the last quarter. Institutional investors own 48.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on FLGT shares. UBS Group upgraded shares of Fulgent Genetics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $20.00 to $30.00 in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulgent Genetics in a report on Wednesday, October 8th. Finally, Piper Sandler set a $21.00 price target on Fulgent Genetics and gave the company a “neutral” rating in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.33.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc, together with its subsidiaries, provides clinical diagnostic and therapeutic development solutions to physicians and patients in the United States and internationally. The company’s clinical diagnostic solutions include molecular diagnostic testing; genetic testing; anatomic pathology laboratory tests and testing services, such as gastrointestinal pathology, dermatopathology, urologic pathology, breast pathology, neuropathology, and hematopathology; oncology tests and testing services; and sequencer services related to hereditary cancer, reproductive health, and other diseases.