Analysts forecast that Fulgent Genetics Inc (NASDAQ:FLGT) will announce sales of $51.73 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Fulgent Genetics’ earnings, with estimates ranging from $49.95 million to $53.50 million. Fulgent Genetics reported sales of $10.35 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 399.8%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 2nd.
According to Zacks, analysts expect that Fulgent Genetics will report full-year sales of $134.81 million for the current fiscal year, with estimates ranging from $134.60 million to $135.01 million. For the next financial year, analysts forecast that the company will report sales of $220.74 million, with estimates ranging from $206.68 million to $234.80 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Fulgent Genetics.
Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.16. Fulgent Genetics had a net margin of 5.78% and a return on equity of 5.05%.
Several analysts have recently issued reports on the stock. Oppenheimer reissued a “buy” rating and issued a $75.00 price target on shares of Fulgent Genetics in a research report on Thursday, August 27th. BidaskClub lowered shares of Fulgent Genetics from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. BTIG Research assumed coverage on shares of Fulgent Genetics in a report on Friday, May 29th. They set a “buy” rating and a $20.00 target price on the stock. Piper Sandler upped their target price on shares of Fulgent Genetics from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Finally, Zacks Investment Research lowered shares of Fulgent Genetics from a “buy” rating to a “hold” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Fulgent Genetics presently has a consensus rating of “Buy” and a consensus price target of $33.47.
In other Fulgent Genetics news, CFO Paul Kim sold 136,643 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $42.12, for a total value of $5,755,403.16. Following the completion of the transaction, the chief financial officer now owns 471,109 shares of the company’s stock, valued at approximately $19,843,111.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Hanlin Gao sold 1,308 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $41.11, for a total transaction of $53,771.88. Following the completion of the transaction, the insider now directly owns 1,281,351 shares of the company’s stock, valued at approximately $52,676,339.61. The disclosure for this sale can be found here. In the last three months, insiders sold 256,898 shares of company stock valued at $10,727,923. Corporate insiders own 47.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors purchased a new stake in shares of Fulgent Genetics in the 2nd quarter valued at $32,000. UBS Group AG boosted its stake in shares of Fulgent Genetics by 392.1% in the 2nd quarter. UBS Group AG now owns 4,001 shares of the company’s stock valued at $64,000 after purchasing an additional 3,188 shares in the last quarter. American International Group Inc. purchased a new stake in shares of Fulgent Genetics in the 2nd quarter valued at $95,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Fulgent Genetics in the 1st quarter valued at $65,000. Finally, Advisor Group Holdings Inc. boosted its stake in shares of Fulgent Genetics by 328.2% in the 2nd quarter. Advisor Group Holdings Inc. now owns 8,525 shares of the company’s stock valued at $137,000 after purchasing an additional 6,534 shares in the last quarter. 61.08% of the stock is owned by institutional investors.
Shares of NASDAQ FLGT traded down $3.89 during midday trading on Thursday, hitting $28.29. The company’s stock had a trading volume of 1,692,395 shares, compared to its average volume of 1,272,070. The stock has a fifty day moving average price of $32.68 and a 200 day moving average price of $19.52. Fulgent Genetics has a one year low of $6.70 and a one year high of $52.47. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $625.63 million, a price-to-earnings ratio of 235.77 and a beta of 1.90.
About Fulgent Genetics
Fulgent Genetics, Inc, together with its subsidiaries, provides genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, learning software, and genetic diagnostics tools and integrated laboratory processes.
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