Putnam Investments LLC Decreases Stock Holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Putnam Investments LLC decreased its position in Fulgent Genetics, Inc. (NASDAQ:FLGT – Get Rating) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,312 shares of the company’s stock after selling 621 shares during the quarter. Putnam Investments LLC owned approximately 0.12% of Fulgent Genetics worth $1,308,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. increased its position in shares of Fulgent Genetics by 416.8% in the first quarter. Geneos Wealth Management Inc. now owns 491 shares of the company’s stock valued at $30,000 after acquiring an additional 396 shares during the period. Ronald Blue Trust Inc. increased its position in shares of Fulgent Genetics by 1,114.0% in the third quarter. Ronald Blue Trust Inc. now owns 607 shares of the company’s stock valued at $33,000 after acquiring an additional 557 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of Fulgent Genetics by 1,120.5% in the third quarter. Rockefeller Capital Management L.P. now owns 2,148 shares of the company’s stock valued at $81,000 after acquiring an additional 1,972 shares during the period. Sargent Bickham Lagudis LLC purchased a new position in shares of Fulgent Genetics in the third quarter valued at about $85,000. Finally, Mutual of America Capital Management LLC increased its position in shares of Fulgent Genetics by 18.5% in the second quarter. Mutual of America Capital Management LLC now owns 3,311 shares of the company’s stock valued at $181,000 after acquiring an additional 518 shares during the period. Hedge funds and other institutional investors own 43.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FLGT. Piper Sandler decreased their price objective on shares of Fulgent Genetics from $40.00 to $35.00 in a research report on Monday. Credit Suisse Group reduced their price target on shares of Fulgent Genetics from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, March 2nd. Finally, Raymond James started coverage on shares of Fulgent Genetics in a research report on Friday, November 18th. They set an “outperform” rating and a $45.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

Fulgent Genetics Price Performance

Shares of NASDAQ FLGT opened at $32.21 on Tuesday. The stock has a market capitalization of $950.84 million, a P/E ratio of 7.06 and a beta of 1.61. Fulgent Genetics, Inc. has a 1 year low of $28.53 and a 1 year high of $65.32. The company’s 50-day moving average is $32.55 and its 200 day moving average is $35.62.

Fulgent Genetics (NASDAQ:FLGT – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.07. The business had revenue of $67.70 million for the quarter, compared to analysts’ expectations of $59.44 million. Fulgent Genetics had a net margin of 23.17% and a return on equity of 11.93%. Research analysts anticipate that Fulgent Genetics, Inc. will post -2.67 earnings per share for the current year.

Fulgent Genetics Profile

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Fulgent Genetics, Inc is a technology company, which engages in the provision of gene testing and sequencing solutions. It offers genes and panels, known mutation, hereditary cancer, carrier screening, and tumor profiling solutions. The company was founded on May 13, 2016 and is headquartered in Temple City, CA.