Fulgent Genetics (NASDAQ:FLGT) Issues 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) issued its quarterly earnings data on Friday. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.30, Briefing.com reports. The business had revenue of $81.80 million during the quarter, compared to the consensus estimate of $76.21 million. Fulgent Genetics had a negative net margin of 16.83% and a negative return on equity of 2.26%. The company's revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 EPS. Fulgent Genetics updated its FY 2025 guidance to -0.350--0.350 EPS.

Fulgent Genetics Trading Down 0.7%

Shares of NASDAQ:FLGT traded down $0.15 on Wednesday, reaching $20.63. 168,368 shares of the company were exchanged, compared to its average volume of 365,882. Fulgent Genetics has a 1-year low of $14.57 and a 1-year high of $25.00. The firm has a market cap of $631.48 million, a price-to-earnings ratio of -12.38 and a beta of 0.83. The company has a 50-day moving average of $19.63 and a 200-day moving average of $18.38.

Analyst Ratings Changes

Several analysts have recently weighed in on FLGT shares. UBS Group upgraded shares of Fulgent Genetics from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $20.00 to $30.00 in a research report on Tuesday. Raymond James Financial restated an "outperform" rating and set a $25.00 price objective (up previously from $24.00) on shares of Fulgent Genetics in a research report on Monday, May 5th. Finally, Piper Sandler set a $21.00 price target on shares of Fulgent Genetics and gave the company a "neutral" rating in a research report on Monday.

Insider Buying and Selling at Fulgent Genetics

In other news, COO Jian Xie sold 1,873 shares of the company'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 $7,653,840.74. This represents a 0.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 33.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fulgent Genetics

An institutional investor recently raised its position in Fulgent Genetics stock. Goldman Sachs Group Inc. boosted its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT - Free Report) by 28.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 202,820 shares of the company's stock after acquiring an additional 45,279 shares during the period. Goldman Sachs Group Inc. owned 0.67% of Fulgent Genetics worth $3,428,000 as of its most recent filing with the Securities and Exchange Commission. 48.06% of the stock is owned by institutional investors.

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.