Fulgent Genetics (NASDAQ:FLGT) Issues Quarterly Earnings Results, Beats Estimates By $0.36 EPS

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

Fulgent Genetics Price Performance

FLGT traded up $4.05 during trading on Friday, reaching $26.36. 810,360 shares of the company’s stock were exchanged, compared to its average volume of 323,283. Fulgent Genetics has a 1 year low of $14.57 and a 1 year high of $27.36. The company’s fifty day simple moving average is $22.68 and its 200-day simple moving average is $20.90. The stock has a market capitalization of $806.85 million, a P/E ratio of -15.88 and a beta of 0.92.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Piper Sandler set a $21.00 price target on Fulgent Genetics and gave the stock a “neutral” rating in a research note on Monday, August 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fulgent Genetics in a research note on Wednesday, October 8th. Finally, UBS Group upgraded shares of Fulgent Genetics from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $30.00 in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $25.33.

Insider Activity at Fulgent Genetics

In other news, COO Jian Xie sold 1,199 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $21.48, for a total value of $25,754.52. Following the sale, the chief operating officer 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 5,577 shares of company stock valued at $121,024. 31.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fulgent Genetics

Several hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in shares of Fulgent Genetics during the 2nd quarter worth approximately $49,000. Headlands Technologies LLC increased its holdings in 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 in the last quarter. Legal & General Group Plc increased its holdings in 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 in the last quarter. Quantinno Capital Management LP raised its position in Fulgent Genetics by 96.9% during the second quarter. Quantinno Capital Management LP now owns 29,417 shares of the company’s stock worth $585,000 after acquiring an additional 14,480 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Fulgent Genetics by 2.4% during the second quarter. Rhumbline Advisers now owns 33,139 shares of the company’s stock valued at $659,000 after purchasing an additional 785 shares in the last quarter. 48.06% of the stock is owned by hedge funds and other institutional investors.

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.