Fulgent Genetics Inc (NASDAQ:FLGT) has received an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Brokers have set a 12 month consensus price objective of $5.30 for the company, according to Zacks. Zacks has also given Fulgent Genetics an industry rank of 61 out of 256 based on the ratings given to related companies.
Several brokerages have recently issued reports on FLGT. Zacks Investment Research cut Fulgent Genetics from a “buy” rating to a “hold” rating in a research note on Tuesday. Credit Suisse Group cut Fulgent Genetics from an “outperform” rating to a “neutral” rating in a research note on Friday, April 26th. Finally, TheStreet upgraded Fulgent Genetics from a “d” rating to a “c-” rating in a research note on Friday, March 1st.
Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The company had revenue of $5.37 million during the quarter, compared to analysts’ expectations of $5.46 million. Fulgent Genetics had a negative net margin of 20.33% and a negative return on equity of 7.05%. As a group, sell-side analysts expect that Fulgent Genetics will post -0.16 earnings per share for the current fiscal year.
In other Fulgent Genetics news, insider Ming Hsieh bought 8,739 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was purchased at an average price of $4.95 per share, for a total transaction of $43,258.05. Following the completion of the purchase, the insider now directly owns 6,579,326 shares in the company, valued at $32,567,663.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 57.80% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of FLGT. Essex Investment Management Co. LLC purchased a new stake in Fulgent Genetics during the fourth quarter worth approximately $261,000. Old West Investment Management LLC lifted its stake in Fulgent Genetics by 8.5% during the fourth quarter. Old West Investment Management LLC now owns 434,454 shares of the company’s stock worth $1,377,000 after purchasing an additional 34,140 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Fulgent Genetics during the first quarter worth approximately $155,000. Brown Advisory Inc. purchased a new stake in Fulgent Genetics during the fourth quarter worth approximately $46,000. Finally, Financial Advisors LLC purchased a new stake in Fulgent Genetics during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 6.62% of the company’s stock.
About Fulgent Genetics
Fulgent Genetics, Inc, together with its subsidiaries, provides genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, learning software, and genetic diagnostics tools and integrated laboratory processes.
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