Charles Schwab Investment Management Inc. Grows Stock Holdings in 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. increased its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 16.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 243,979 shares of the company's stock after acquiring an additional 33,768 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.79% of Fulgent Genetics worth $4,123,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State of Wyoming bought a new position in shares of Fulgent Genetics in the 4th quarter worth approximately $57,000. PNC Financial Services Group Inc. lifted its position in Fulgent Genetics by 122.8% during the first quarter. PNC Financial Services Group Inc. now owns 3,562 shares of the company's stock valued at $60,000 after purchasing an additional 1,963 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Fulgent Genetics by 106.4% in the first quarter. GAMMA Investing LLC now owns 4,402 shares of the company's stock valued at $74,000 after acquiring an additional 2,269 shares in the last quarter. Easterly Investment Partners LLC purchased a new stake in Fulgent Genetics in the 1st quarter worth $198,000. Finally, Aquatic Capital Management LLC raised its holdings in shares of Fulgent Genetics by 157.4% during the 4th quarter. Aquatic Capital Management LLC now owns 12,869 shares of the company's stock worth $238,000 after acquiring an additional 7,869 shares in the last quarter. 48.06% of the stock is currently owned by institutional investors.

Fulgent Genetics Price Performance

Shares of NASDAQ FLGT traded up $0.14 on Friday, hitting $22.17. The company's stock had a trading volume of 348,546 shares, compared to its average volume of 306,771. Fulgent Genetics, Inc. has a 12-month low of $14.57 and a 12-month high of $23.56. The company has a market capitalization of $678.62 million, a price-to-earnings ratio of -13.36 and a beta of 0.83. The stock has a 50 day moving average of $19.81 and a 200-day moving average of $18.97.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of ($0.23) by $0.30. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. The business had revenue of $81.80 million for the quarter, compared to analysts' expectations of $76.21 million. During the same quarter last year, the company 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. Sell-side analysts expect that Fulgent Genetics, Inc. will post -0.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FLGT shares. Raymond James Financial reiterated an "outperform" rating and issued a $25.00 price objective (up from $24.00) on shares of Fulgent Genetics in a report on Monday, May 5th. UBS Group raised shares of Fulgent Genetics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $20.00 to $30.00 in a research report on Tuesday, August 5th. Finally, Piper Sandler set a $21.00 target price on Fulgent Genetics and gave the company a "neutral" rating in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.33.

Insider Buying and Selling at Fulgent Genetics

In other Fulgent Genetics news, COO Jian Xie sold 1,199 shares of Fulgent Genetics stock in a transaction that occurred 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 completion of the sale, the chief operating officer directly owned 365,249 shares in the company, valued at approximately $7,845,548.52. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 3,386 shares of company stock valued at $72,756 over the last quarter. Insiders own 31.76% of the company's stock.

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.