Fulgent Genetics (NASDAQ:FLGT) Releases FY 2024 Earnings Guidance

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of -1.050--1.050 for the period, compared to the consensus estimate of -1.060. The company issued revenue guidance of $280.0 million-$280.0 million, compared to the consensus revenue estimate of $279.4 million. Fulgent Genetics also updated its FY24 guidance to approx ($1.05) EPS.

Fulgent Genetics Stock Performance

Shares of FLGT stock traded up $0.26 during mid-day trading on Friday, reaching $21.50. 355,667 shares of the company's stock traded hands, compared to its average volume of 200,261. The firm has a market capitalization of $642.87 million, a PE ratio of -3.81 and a beta of 1.43. Fulgent Genetics has a 12 month low of $19.88 and a 12 month high of $44.09. The firm has a 50 day moving average price of $21.81 and a two-hundred day moving average price of $25.00.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.63) by $0.61. Fulgent Genetics had a negative return on equity of 3.04% and a negative net margin of 58.03%. The business had revenue of $70.51 million during the quarter, compared to analysts' expectations of $67.14 million. As a group, equities analysts expect that Fulgent Genetics will post -2.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Piper Sandler cut their price objective on shares of Fulgent Genetics from $28.00 to $25.00 and set a neutral rating for the company in a report on Wednesday, March 6th.

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.

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