Fulgent Genetics (NASDAQ:FLGT – Get Rating) announced its quarterly earnings data on Thursday. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05, Briefing.com reports. The company had revenue of $125.30 million for the quarter, compared to analysts’ expectations of $122.70 million. Fulgent Genetics had a return on equity of 41.13% and a net margin of 48.32%. Fulgent Genetics’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same period last year, the firm posted $2.47 EPS. Fulgent Genetics updated its Q3 2022 guidance to EPS and its FY 2022 guidance to $6.00-$6.00 EPS.
Fulgent Genetics Price Performance
Fulgent Genetics stock traded down $3.88 during trading hours on Friday, reaching $59.86. The company had a trading volume of 417,490 shares, compared to its average volume of 401,285. The company has a 50-day moving average price of $55.73 and a 200 day moving average price of $58.34. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 4.05 and a beta of 1.47. Fulgent Genetics has a 12-month low of $47.34 and a 12-month high of $112.00.
Insiders Place Their Bets
In other Fulgent Genetics news, CFO Paul Kim sold 1,191 shares of Fulgent Genetics stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $53.38, for a total value of $63,575.58. Following the transaction, the chief financial officer now directly owns 153,577 shares of the company’s stock, valued at approximately $8,197,940.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Jian Xie sold 1,269 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $53.38, for a total transaction of $67,739.22. Following the transaction, the chief operating officer now directly owns 329,701 shares of the company’s stock, valued at $17,599,439.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul Kim sold 1,191 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $53.38, for a total value of $63,575.58. Following the transaction, the chief financial officer now directly owns 153,577 shares in the company, valued at $8,197,940.26. The disclosure for this sale can be found here. Insiders have sold 3,200 shares of company stock valued at $171,530 in the last ninety days. Company insiders own 29.50% of the company’s stock.
Hedge Funds Weigh In On Fulgent Genetics
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on FLGT. TheStreet cut Fulgent Genetics from a “b-” rating to a “c+” rating in a report on Thursday, July 28th. Piper Sandler decreased their price objective on Fulgent Genetics from $85.00 to $70.00 in a report on Sunday, May 15th.
Fulgent Genetics Company Profile
Fulgent Genetics, Inc, together with its subsidiaries, provides COVID-19, molecular diagnostic, and genetic testing services to physicians and patients in the United States and internationally. The company offers genetic tests comprising Focus and Comprehensive oncology panels tests; Beacon carrier screening panels test for inherited conditions; solid tumor molecular profiling for somatic cancer testing; rapid whole genome testing for children in NICU and PICU; newborn genetic analysis panel; single front-line test to detect ataxia-related variants and repeat expansions through sequencing; picture genetics, a patient-initiated genetic testing; whole exome and clinical exome panel tests; whole genome, mutation, and repeat expansion testing services, as well as research service tests.
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