Fulgent Genetics (FLGT) Scheduled to Post Earnings on Tuesday

Fulgent Genetics (NASDAQ:FLGT – Get Rating) is scheduled to be announcing its earnings results after the market closes on Tuesday, May 3rd. Analysts expect the company to announce earnings of $3.44 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Fulgent Genetics (NASDAQ:FLGT – Get Rating) last announced its earnings results on Wednesday, February 23rd. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.68. The business had revenue of $251.67 million for the quarter, compared to analysts’ expectations of $191.10 million. Fulgent Genetics had a return on equity of 51.21% and a net margin of 51.12%. The business’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period last year, the firm posted $6.12 earnings per share. On average, analysts expect Fulgent Genetics to post $7 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Shares of NASDAQ:FLGT opened at $57.87 on Tuesday. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 3.53 and a beta of 1.54. The stock’s 50-day simple moving average is $59.71 and its two-hundred day simple moving average is $74.77. Fulgent Genetics has a 52-week low of $49.50 and a 52-week high of $112.00.

In other news, CFO Paul Kim sold 454 shares of Fulgent Genetics stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $56.31, for a total transaction of $25,564.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 29.50% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of FLGT. Schonfeld Strategic Advisors LLC purchased a new position in Fulgent Genetics in the 4th quarter worth approximately $257,000. Canada Pension Plan Investment Board lifted its holdings in Fulgent Genetics by 384.2% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,978 shares of the company’s stock worth $300,000 after purchasing an additional 2,363 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Fulgent Genetics by 153.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 4,779 shares of the company’s stock worth $481,000 after purchasing an additional 2,894 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Fulgent Genetics by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,527 shares of the company’s stock worth $556,000 after purchasing an additional 182 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Fulgent Genetics in the 4th quarter worth approximately $634,000. 38.33% of the stock is currently owned by institutional investors.

Several research analysts have issued reports on FLGT shares. Zacks Investment Research cut Fulgent Genetics from a “hold” rating to a “sell” rating in a research report on Tuesday, April 19th. StockNews.com initiated coverage on Fulgent Genetics in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler lifted their price objective on Fulgent Genetics from $80.00 to $85.00 in a research report on Tuesday, March 1st. Finally, Oppenheimer lowered their price objective on Fulgent Genetics from $141.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 25th.

Fulgent Genetics Company Profile (Get Rating)

Fulgent Genetics, Inc, together with its subsidiaries, provides COVID-19, molecular diagnostic, and genetic testing services to physicians and patients in the United States and internationally. The company offers genetic tests comprising Focus and Comprehensive oncology panels tests; Beacon carrier screening panels test for inherited conditions; solid tumor molecular profiling for somatic cancer testing; rapid whole genome testing for children in NICU and PICU; newborn genetic analysis panel; single front-line test to detect ataxia-related variants and repeat expansions through sequencing; picture genetics, a patient-initiated genetic testing; whole exome and clinical exome panel tests; whole genome, mutation, and repeat expansion testing services, as well as research service tests.

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