Wall Street analysts expect that Fulgent Genetics, Inc. (NASDAQ: FLGT – Get Rating) will announce $ 122.40 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Fulgent Genetics’ earnings, with the lowest sales estimate coming in at $ 122.10 million and the highest estimate coming in at $ 122.70 million. Fulgent Genetics posted sales of $ 153.62 million during the same quarter last year, which suggests a negative year-over-year growth rate of 20.3%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Fulgent Genetics will report full year sales of $ 652.60 million for the current fiscal year, with estimates ranging from $ 649.60 million to $ 655.60 million. For the next fiscal year, analysts expect that the company will post sales of $ 392.70 million, with estimates ranging from $ 363.30 million to $ 422.10 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Fulgent Genetics.
Fulgent Genetics (NASDAQ: FLGT – Get Rating) last posted its earnings results on Tuesday, May 3rd. The company reported $ 5.08 EPS for the quarter, topping the consensus estimate of $ 3.86 by $ 1.22. Fulgent Genetics had a net margin of 48.32% and a return on equity of 41.13%. The company had revenue of $ 320.30 million during the quarter, compared to the consensus estimate of $ 300.50 million. During the same period in the previous year, the firm posted $ 6.51 earnings per share. The company revenue for the quarter was down 10.9% compared to the same quarter last year.
A number of analysts have recently weighed in on FLGT shares. Piper Sandler reduced their price objective on shares of Fulgent Genetics from $ 85.00 to $ 70.00 in a research note on Sunday, May 15th. StockNews.com assumed coverage on shares of Fulgent Genetics in a research note on Thursday, March 31st. They set a “hold” rating for the company. Oppenheimer cut their target price on shares of Fulgent Genetics from $ 141.00 to $ 125.00 and set an “outperform” rating for the company in a research note on Tuesday, January 25th. Finally, Zacks Investment Research cut shares of Fulgent Genetics from a “buy” rating to a “hold” rating in a research note on Monday, May 9th.
In other news, CFO Paul Kim sold 454 shares of the company stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $ 56.31, for a total value of $ 25,564.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jian Xie sold 1,269 shares of the company stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $ 53.38, for a total transaction of $ 67,739.22. Following the completion of the sale, the chief operating officer now directly owns 329,701 shares in the company, valued at approximately $ 17,599,439.38. The disclosure for this sale can be found here. Insiders sold a total of 3,239 shares of company stock worth $ 174,228 in the last three months. Insiders own 29.50% of the company stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its holdings in shares of Fulgent Genetics by 416.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 491 shares of the company stock worth $ 30,000 after purchasing an additional 396 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Fulgent Genetics by 247.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 117,537 shares of the company stock worth $ 7,336,000 after acquiring an additional 83,678 shares during the last quarter. State Street Corp grew its holdings in Fulgent Genetics by 11.3% during the 1st quarter. State Street Corp now owns 696,083 shares of the company stock worth $ 43,443,000 after acquiring an additional 70,764 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Fulgent Genetics during the 1st quarter worth about $ 1,264,000. Finally, Vident Investment Advisory LLC grew its holdings in Fulgent Genetics by 62.1% during the 1st quarter. Vident Investment Advisory LLC now owns 38,040 shares of the company stock worth $ 2,372,000 after acquiring an additional 14,577 shares during the last quarter. 37.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fulgent Genetics stock opened at $ 56.08 on Friday. The firm has a fifty day simple moving average of $ 58.07 and a 200-day simple moving average of $ 71.01. Fulgent Genetics has a 1-year low of $ 47.65 and a 1-year high of $ 112.00. The stock has a market capitalization of $ 1.70 billion, a price-to-earnings ratio of 3.79 and a beta of 1.55.
About Fulgent Genetics (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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