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

Fulgent Genetics (NASDAQ:FLGT) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of -0.300–0.300 for the period, compared to the consensus estimate of -0.920. The company issued revenue guidance of $280.0 million-$280.0 million, compared to the consensus revenue estimate of $280.2 million.

Fulgent Genetics Stock Up 6.3 %

Shares of Fulgent Genetics stock traded up $1.49 during mid-day trading on Friday, hitting $25.06. The stock had a trading volume of 418,331 shares, compared to its average volume of 211,842. The firm has a 50-day moving average of $21.07 and a two-hundred day moving average of $22.26. Fulgent Genetics has a 12-month low of $18.91 and a 12-month high of $44.09. The firm has a market cap of $749.80 million, a P/E ratio of -4.50 and a beta of 1.37.

Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly earnings results on Friday, May 3rd. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.20. The business had revenue of $64.49 million during the quarter, compared to analysts’ expectations of $65.74 million. Fulgent Genetics had a negative net margin of 57.72% and a negative return on equity of 2.92%. Sell-side analysts expect that Fulgent Genetics will post -2.12 earnings per share for the current year.

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.