Brokerages expect Fulgent Genetics Inc (NASDAQ:FLGT) to post $0.44 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Fulgent Genetics’ earnings. Fulgent Genetics reported earnings per share of $0.14 in the same quarter last year, which would suggest a positive year-over-year growth rate of 214.3%. The firm is scheduled to announce its next quarterly earnings results on Monday, November 2nd.
According to Zacks, analysts expect that Fulgent Genetics will report full year earnings of $1.25 per share for the current year. For the next year, analysts anticipate that the business will post earnings of $1.87 per share. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Fulgent Genetics.
Fulgent Genetics (NASDAQ:FLGT) last released its earnings results on Tuesday, August 4th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.16. Fulgent Genetics had a net margin of 5.78% and a return on equity of 5.05%.
Several equities research analysts have recently issued reports on FLGT shares. Oppenheimer reiterated a “buy” rating and set a $75.00 price objective on shares of Fulgent Genetics in a research report on Thursday, August 27th. BTIG Research started coverage on shares of Fulgent Genetics in a research report on Friday, May 29th. They set a “buy” rating and a $20.00 price objective on the stock. BidaskClub cut shares of Fulgent Genetics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 29th. Piper Sandler lifted their price objective on shares of Fulgent Genetics from $68.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Finally, Zacks Investment Research cut shares of Fulgent Genetics from a “buy” rating to a “hold” rating in a research 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. The stock currently has a consensus rating of “Buy” and an average price target of $33.47.
In other Fulgent Genetics news, CFO Paul Kim sold 1,396 shares of Fulgent Genetics stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $42.06, for a total transaction of $58,715.76. Following the completion of the transaction, the chief financial officer now directly owns 472,417 shares of the company’s stock, valued at $19,869,859.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hanlin Gao sold 1,308 shares of Fulgent Genetics stock in a transaction 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 transaction, the insider now directly owns 1,281,351 shares of the company’s stock, valued at $52,676,339.61. The disclosure for this sale can be found here. Insiders sold 256,898 shares of company stock worth $10,727,923 in the last 90 days. 47.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Flagship Harbor Advisors LLC lifted its stake in Fulgent Genetics by 30.8% in the second quarter. Flagship Harbor Advisors LLC now owns 7,850 shares of the company’s stock worth $125,000 after acquiring an additional 1,850 shares during the period. Captrust Financial Advisors purchased a new stake in Fulgent Genetics in the second quarter worth about $32,000. UBS Group AG lifted its stake in Fulgent Genetics by 392.1% in the second quarter. UBS Group AG now owns 4,001 shares of the company’s stock worth $64,000 after acquiring an additional 3,188 shares during the period. Geode Capital Management LLC lifted its stake in Fulgent Genetics by 3.5% in the first quarter. Geode Capital Management LLC now owns 97,106 shares of the company’s stock worth $1,044,000 after acquiring an additional 3,313 shares during the period. Finally, Bank of America Corp DE lifted its stake in Fulgent Genetics by 43.7% in the second quarter. Bank of America Corp DE now owns 11,352 shares of the company’s stock worth $182,000 after acquiring an additional 3,451 shares during the period. 61.08% of the stock is owned by institutional investors.
NASDAQ FLGT traded down $3.89 on Tuesday, reaching $28.29. 1,692,395 shares of the stock were exchanged, compared to its average volume of 1,272,070. Fulgent Genetics has a one year low of $6.70 and a one year high of $52.47. The firm has a market capitalization of $625.63 million, a PE ratio of 235.77 and a beta of 1.90. The company’s 50-day simple moving average is $32.68 and its two-hundred day simple moving average is $19.52. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.03.
Fulgent Genetics Company Profile
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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