Charles Schwab Investment Management Inc. Purchases 33,768 Shares of Fulgent Genetics, Inc. $FLGT

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Fulgent Genetics by 16.1% in the first quarter, owning approximately 0.79% of the company valued at over $4 million.
• Analysts have set a consensus target price of $25.33 for Fulgent Genetics, with ratings ranging from "buy" to "neutral" from different firms.
• Fulgent Genetics reported $0.07 earnings per share for the last quarter, exceeding estimates, and had a 15.2% increase in revenue compared to the previous year.

Charles Schwab Investment Management Inc. boosted its stake in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 16.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 243,979 shares of the company's stock after acquiring an additional 33,768 shares during the period. Charles Schwab Investment Management Inc. owned 0.79% of Fulgent Genetics worth $4,123,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Millennium Management LLC boosted its holdings in Fulgent Genetics by 20.6% in the fourth quarter. Millennium Management LLC now owns 1,531,801 shares of the company's stock valued at $28,292,000 after acquiring an additional 261,152 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Fulgent Genetics by 40.8% in the fourth quarter. Ameriprise Financial Inc. now owns 501,809 shares of the company's stock valued at $9,268,000 after acquiring an additional 145,518 shares during the last quarter. Invenomic Capital Management LP boosted its holdings in Fulgent Genetics by 3.7% in the fourth quarter. Invenomic Capital Management LP now owns 259,010 shares of the company's stock valued at $4,784,000 after acquiring an additional 9,263 shares during the last quarter. Northern Trust Corp boosted its holdings in Fulgent Genetics by 5.8% in the fourth quarter. Northern Trust Corp now owns 225,362 shares of the company's stock valued at $4,162,000 after acquiring an additional 12,291 shares during the last quarter. Finally, Peapod Lane Capital LLC boosted its holdings in Fulgent Genetics by 48.2% in the first quarter. Peapod Lane Capital LLC now owns 162,227 shares of the company's stock valued at $2,742,000 after acquiring an additional 52,768 shares during the last quarter. 48.06% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Jian Xie sold 1,199 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $21.48, for a total value of $25,754.52. Following the transaction, the chief operating officer directly owned 365,249 shares in the company, valued at $7,845,548.52. This trade represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 5,577 shares of company stock valued at $121,024. 33.11% of the stock is owned by company insiders.

Fulgent Genetics Stock Performance

Shares of Fulgent Genetics stock traded down $0.29 on Wednesday, reaching $22.02. 315,985 shares of the company's stock were exchanged, compared to its average volume of 243,737. The company has a market capitalization of $674.03 million, a P/E ratio of -13.26 and a beta of 0.82. Fulgent Genetics, Inc. has a 52 week low of $14.57 and a 52 week high of $23.56. The firm's 50-day moving average is $19.97 and its two-hundred day moving average is $19.05.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.23) by $0.30. Fulgent Genetics had a negative return on equity of 2.26% and a negative net margin of 16.83%.The firm had revenue of $81.80 million for the quarter, compared to analysts' expectations of $76.21 million. During the same period in the prior year, the business earned $0.15 EPS. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. Fulgent Genetics has set its FY 2025 guidance at -0.350--0.350 EPS. On average, analysts expect that Fulgent Genetics, Inc. will post -0.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on FLGT shares. UBS Group upgraded Fulgent Genetics from a "neutral" rating to a "buy" rating and upped their target price for the company from $20.00 to $30.00 in a report on Tuesday, August 5th. Piper Sandler set a $21.00 price target on Fulgent Genetics and gave the stock a "neutral" rating in a report on Monday, August 4th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $25.33.

About Fulgent Genetics

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.