Fulgent Genetics, Inc. (NASDAQ:FLGT – Get Rating) – Analysts at Oppenheimer raised their Q1 2022 earnings per share estimates for shares of Fulgent Genetics in a research note issued on Tuesday, April 19th. Oppenheimer analyst K. Degeeter now anticipates that the company will earn $4.32 per share for the quarter, up from their previous estimate of $3.44. Oppenheimer currently has a “Outperform” rating and a $125.00 target price on the stock. Oppenheimer also issued estimates for Fulgent Genetics’ Q3 2022 earnings at $0.88 EPS, FY2022 earnings at $7.30 EPS, Q1 2023 earnings at $1.13 EPS and Q3 2023 earnings at $0.46 EPS.
Several other brokerages have also recently issued reports on FLGT. Zacks Investment Research cut shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Tuesday. StockNews.com initiated coverage on shares of Fulgent Genetics in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Piper Sandler raised their price target on shares of Fulgent Genetics from $80.00 to $85.00 in a report on Tuesday, March 1st.
Fulgent Genetics (NASDAQ:FLGT – Get Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The company reported $3.34 EPS for the quarter, beating the Zacks’ consensus estimate of $2.66 by $0.68. Fulgent Genetics had a net margin of 51.12% and a return on equity of 51.21%. The firm had revenue of $251.67 million for the quarter, compared to the consensus estimate of $191.10 million. During the same period in the prior year, the firm posted $6.12 EPS. The firm’s revenue was down 14.7% compared to the same quarter last year.
Several institutional investors and hedge funds have recently modified their holdings of FLGT. Spire Wealth Management boosted its holdings in shares of Fulgent Genetics by 10.8% in the 4th quarter. Spire Wealth Management now owns 1,375 shares of the company’s stock valued at $138,000 after buying an additional 134 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Fulgent Genetics by 0.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 20,322 shares of the company’s stock valued at $1,828,000 after acquiring an additional 146 shares during the last quarter. Maryland State Retirement & Pension System grew its position in Fulgent Genetics by 2.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 7,730 shares of the company’s stock valued at $778,000 after acquiring an additional 180 shares during the last quarter. First Foundation Advisors grew its position in Fulgent Genetics by 4.0% in the third quarter. First Foundation Advisors now owns 4,728 shares of the company’s stock valued at $425,000 after acquiring an additional 182 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Fulgent Genetics by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,527 shares of the company’s stock worth $556,000 after purchasing an additional 182 shares during the last quarter. Institutional investors and hedge funds own 38.33% of the company’s stock.
In other Fulgent Genetics news, CFO Paul Kim sold 454 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 29.50% of the stock is owned by corporate insiders.
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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