Fulgent Genetics (NASDAQ:FLGT) Announces Quarterly Earnings Results, Beats Expectations By $0.36 EPS

Fulgent Genetics (NASDAQ:FLGT) announced its quarterly earnings data on Friday. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.36, FiscalAI reports. Fulgent Genetics had a negative return on equity of 2.26% and a negative net margin of 16.83%.The firm had revenue of $84.07 million during the quarter, compared to analyst estimates of $81.43 million. Fulgent Genetics updated its FY 2025 guidance to 0.300-0.300 EPS.

Fulgent Genetics Stock Performance

Shares of NASDAQ:FLGT traded up $4.05 during midday trading on Friday, hitting $26.36. The company’s stock had a trading volume of 810,360 shares, compared to its average volume of 323,283. The stock’s 50 day simple moving average is $22.68 and its 200 day simple moving average is $20.90. The stock has a market capitalization of $806.85 million, a price-to-earnings ratio of -15.88 and a beta of 0.92. Fulgent Genetics has a fifty-two week low of $14.57 and a fifty-two week high of $27.36.

Insider Buying and Selling at Fulgent Genetics

In other news, COO Jian Xie sold 1,199 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $21.48, for a total value of $25,754.52. Following the completion of the sale, the chief operating officer directly owned 365,249 shares of the company’s stock, valued at approximately $7,845,548.52. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 5,577 shares of company stock valued at $121,024 over the last three months. 31.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FLGT. Vanguard Group Inc. increased its holdings in Fulgent Genetics by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,179,254 shares of the company’s stock valued at $26,651,000 after buying an additional 13,295 shares during the period. JPMorgan Chase & Co. increased its stake in Fulgent Genetics by 767.0% in the third quarter. JPMorgan Chase & Co. now owns 299,014 shares of the company’s stock valued at $6,758,000 after acquiring an additional 264,524 shares during the period. Goldman Sachs Group Inc. raised its position in Fulgent Genetics by 28.7% in the first quarter. Goldman Sachs Group Inc. now owns 202,820 shares of the company’s stock worth $3,428,000 after purchasing an additional 45,279 shares in the last quarter. BNP Paribas Financial Markets raised its position in Fulgent Genetics by 2.5% in the second quarter. BNP Paribas Financial Markets now owns 87,318 shares of the company’s stock worth $1,736,000 after purchasing an additional 2,128 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Fulgent Genetics during the second quarter worth about $1,598,000. 48.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FLGT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fulgent Genetics in a research note on Wednesday, October 8th. Piper Sandler set a $21.00 price target on shares of Fulgent Genetics and gave the stock a “neutral” rating in a research note on Monday, August 4th. Finally, UBS Group upgraded Fulgent Genetics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $20.00 to $30.00 in a report on Tuesday, August 5th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.33.

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.