Medina Value Partners LLC Invests $3.96 Billion in Fulgent Genetics, Inc. $FLGT

Key Points

• Medina Value Partners purchased 193,061 shares of Fulgent Genetics in the second quarter, reportedly valued at approximately $3.96 billion, giving it a 0.70% stake and making FLGT a top-27 portfolio holding.
• Fulgent Genetics reported weaker-than-expected quarterly results, with an adjusted loss of $0.58 per share versus the $0.46 consensus estimate and revenue of $85.39 million compared with expectations of $94 million.
• Analyst sentiment remains cautious: FLGT has an average “Hold” rating and a $27.50 price target, while shares recently opened at $19.95. Institutional investors own 48.06% of the stock, and insiders hold 36.18%.

Medina Value Partners LLC purchased a new stake in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 193,061 shares of the company's stock, valued at approximately $3,961,612,000. Fulgent Genetics makes up 0.8% of Medina Value Partners LLC's investment portfolio, making the stock its 27th biggest holding. Medina Value Partners LLC owned about 0.70% of Fulgent Genetics at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in Fulgent Genetics by 69.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company's stock worth $35,000 after purchasing an additional 548 shares in the last quarter. Federated Hermes Inc. grew its holdings in Fulgent Genetics by 1.2% during the 4th quarter. Federated Hermes Inc. now owns 47,102 shares of the company's stock valued at $1,237,000 after buying an additional 552 shares in the last quarter. Rhumbline Advisers increased its position in shares of Fulgent Genetics by 2.4% during the second quarter. Rhumbline Advisers now owns 33,139 shares of the company's stock valued at $659,000 after buying an additional 785 shares during the period. Swiss National Bank increased its position in shares of Fulgent Genetics by 3.2% during the fourth quarter. Swiss National Bank now owns 39,200 shares of the company's stock valued at $1,030,000 after buying an additional 1,200 shares during the period. Finally, Allworth Financial LP bought a new stake in shares of Fulgent Genetics during the second quarter valued at about $25,000. 48.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FLGT has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Fulgent Genetics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Piper Sandler upped their target price on shares of Fulgent Genetics from $15.00 to $19.00 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Fulgent Genetics in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $27.50.

Fulgent Genetics Stock Up 2.6%

Shares of NASDAQ FLGT opened at $19.95 on Wednesday. The stock's 50-day simple moving average is $19.51 and its two-hundred day simple moving average is $18.19. Fulgent Genetics, Inc. has a twelve month low of $13.46 and a twelve month high of $31.04. The firm has a market capitalization of $548.82 million, a P/E ratio of -7.07 and a beta of 0.90.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.12). Fulgent Genetics had a negative return on equity of 4.93% and a negative net margin of 26.05%.The business had revenue of $85.39 million for the quarter, compared to analysts' expectations of $94.00 million. Fulgent Genetics has set its FY 2026 guidance at -2.350--2.220 EPS. As a group, research analysts anticipate that Fulgent Genetics, Inc. will post -3.48 EPS for the current fiscal year.

Insider Transactions at Fulgent Genetics

In other news, insider Hanlin Gao sold 1,688 shares of the company's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total value of $30,198.32. Following the completion of the transaction, the insider directly owned 990,374 shares in the company, valued at approximately $17,717,790.86. This represents a 0.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,146 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total value of $38,391.94. Following the completion of the sale, the chief operating officer owned 367,605 shares of the company's stock, valued at $6,576,453.45. The trade was a 0.58% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 36.18% of the company's stock.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc NASDAQ: FLGT is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company's infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent's product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.

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