Northern Trust Corp Increases Stock Holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Northern Trust Corp lifted its position in Fulgent Genetics, Inc. (NASDAQ:FLGT) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 225,362 shares of the company’s stock after purchasing an additional 12,291 shares during the quarter. Northern Trust Corp owned about 0.74% of Fulgent Genetics worth $4,162,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of FLGT. Barclays PLC grew its holdings in shares of Fulgent Genetics by 22.6% in the third quarter. Barclays PLC now owns 174,855 shares of the company’s stock valued at $3,800,000 after purchasing an additional 32,250 shares during the period. Exchange Traded Concepts LLC lifted its position in Fulgent Genetics by 5.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 35,324 shares of the company’s stock valued at $652,000 after buying an additional 1,689 shares during the last quarter. R Squared Ltd acquired a new position in Fulgent Genetics in the fourth quarter valued at about $74,000. Empowered Funds LLC lifted its position in Fulgent Genetics by 5.1% in the fourth quarter. Empowered Funds LLC now owns 95,011 shares of the company’s stock valued at $1,755,000 after buying an additional 4,609 shares during the last quarter. Finally, Peapod Lane Capital LLC acquired a new position in Fulgent Genetics in the fourth quarter valued at about $2,022,000. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Fulgent Genetics Stock Performance

Shares of FLGT opened at $20.52 on Friday. The stock has a market capitalization of $624.71 million, a PE ratio of -3.72 and a beta of 1.00. Fulgent Genetics, Inc. has a 1 year low of $14.57 and a 1 year high of $25.11. The company’s 50-day simple moving average is $18.35 and its 200-day simple moving average is $18.08.

Fulgent Genetics (NASDAQ:FLGT) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.22. The business had revenue of $73.46 million for the quarter, compared to analysts’ expectations of $71.26 million. Fulgent Genetics had a negative net margin of 59.39% and a negative return on equity of 1.81%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) earnings per share. On average, sell-side analysts predict that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current year.

Insider Transactions at Fulgent Genetics

In other news, CFO Paul Kim bought 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $15.96 per share, for a total transaction of $1,596,000.00. Following the completion of the purchase, the chief financial officer now owns 348,282 shares of the company’s stock, valued at approximately $5,558,580.72. This represents a 40.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 31.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on FLGT shares. Raymond James reaffirmed an “outperform” rating and issued a $25.00 target price (up previously from $24.00) on shares of Fulgent Genetics in a research report on Monday, May 5th. Piper Sandler reaffirmed a “neutral” rating and issued a $23.00 target price (up previously from $16.00) on shares of Fulgent Genetics in a research report on Tuesday, May 6th. Finally, Wall Street Zen raised shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 5th.

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.