Fulgent Genetics (NASDAQ:FLGT) Announces Quarterly Earnings Results

Key Points

• Fulgent Genetics reported earnings of $0.07 per share, significantly beating analyst estimates of ($0.23) and showing a year-over-year revenue increase of 15.2% to $81.80 million.
• The company has adjusted its FY 2025 guidance to an expected EPS of between -0.350 and 0.350.
• Institutional ownership represents 48.06% of the company's stock, with Goldman Sachs increasing its stake by 28.7% during the first quarter.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) released its quarterly earnings results on Friday. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.23) by $0.30, Briefing.com reports. Fulgent Genetics had a negative net margin of 13.94% and a negative return on equity of 2.19%. The business had revenue of $81.80 million for the quarter, compared to the consensus estimate of $76.21 million. During the same period in the previous year, the firm earned $0.15 EPS. The business's revenue was up 15.2% on a year-over-year basis. Fulgent Genetics updated its FY 2025 guidance to -0.350--0.350 EPS.

Fulgent Genetics Price Performance

FLGT stock traded up $1.35 during midday trading on Friday, reaching $18.53. 1,079,730 shares of the company's stock traded hands, compared to its average volume of 260,693. The company has a market capitalization of $564.05 million, a P/E ratio of -11.16 and a beta of 0.83. Fulgent Genetics has a fifty-two week low of $14.57 and a fifty-two week high of $25.11. The business has a 50-day moving average price of $19.66 and a two-hundred day moving average price of $18.34.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FLGT shares. Piper Sandler reiterated a "neutral" rating and set a $23.00 target price (up from $16.00) on shares of Fulgent Genetics in a report on Tuesday, May 6th. Raymond James Financial reissued an "outperform" rating and issued a $25.00 price objective (up from $24.00) on shares of Fulgent Genetics in a research report on Monday, May 5th.

Insiders Place Their Bets

In other news, COO Jian Xie sold 1,873 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $20.54, for a total transaction of $38,471.42. Following the transaction, the chief operating officer directly owned 372,631 shares of the company's stock, valued at approximately $7,653,840.74. The trade was a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 31.76% of the stock is currently owned by company insiders.

Institutional Trading of Fulgent Genetics

A hedge fund recently raised its stake in Fulgent Genetics stock. Goldman Sachs Group Inc. grew its position in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 28.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 202,820 shares of the company's stock after acquiring an additional 45,279 shares during the quarter. Goldman Sachs Group Inc. owned about 0.67% of Fulgent Genetics worth $3,428,000 as of its most recent filing with the SEC. Institutional investors own 48.06% of the company's stock.

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.

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