Analysts expect that Fulgent Genetics, Inc. (NASDAQ:FLGT) will post earnings of $5.99 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Fulgent Genetics’ earnings. Fulgent Genetics reported earnings of ($0.03) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 20,066.7%. The firm is scheduled to issue its next quarterly earnings report on Monday, May 3rd.

On average, analysts expect that Fulgent Genetics will report full-year earnings of $12.52 per share for the current financial year. For the next fiscal year, analysts expect that the company will post earnings of $4.53 per share. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Fulgent Genetics.

Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly earnings results on Wednesday, March 3rd. The company reported $6.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.36 by $1.84. The company had revenue of $294.98 million for the quarter, compared to the consensus estimate of $199.38 million. Fulgent Genetics had a return on equity of 43.81% and a net margin of 35.31%. The business’s revenue for the quarter was up 3417.1% on a year-over-year basis.

FLGT has been the topic of a number of analyst reports. Oppenheimer increased their price target on Fulgent Genetics from $75.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, February 1st. Zacks Investment Research cut shares of Fulgent Genetics from a “strong-buy” rating to a “sell” rating in a research report on Tuesday. Credit Suisse Group cut shares of Fulgent Genetics from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $42.00 to $40.00 in a research report on Friday, January 8th. Finally, Piper Sandler upped their price objective on shares of Fulgent Genetics from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, March 11th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $84.83.

In other Fulgent Genetics news, COO Jian Xie sold 62,000 shares of the stock in a transaction dated Tuesday, March 9th. The stock was sold at an average price of $102.65, for a total transaction of $6,364,300.00. Following the completion of the transaction, the chief operating officer now owns 345,476 shares in the company, valued at approximately $35,463,111.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John C. Bolger sold 3,374 shares of the stock in a transaction dated Tuesday, March 9th. The stock was sold at an average price of $101.62, for a total value of $342,865.88. Following the transaction, the director now owns 1,312 shares of the company’s stock, valued at approximately $133,325.44. The disclosure for this sale can be found here. 45.00% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its stake in Fulgent Genetics by 0.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 29,602 shares of the company’s stock valued at $1,542,000 after purchasing an additional 143 shares during the last quarter. Federated Hermes Inc. lifted its stake in Fulgent Genetics by 84.5% in the 4th quarter. Federated Hermes Inc. now owns 812 shares of the company’s stock valued at $42,000 after purchasing an additional 372 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Fulgent Genetics by 4.6% in the 4th quarter. State of Alaska Department of Revenue now owns 10,198 shares of the company’s stock valued at $531,000 after purchasing an additional 448 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Fulgent Genetics by 9.1% during the fourth quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company’s stock worth $313,000 after acquiring an additional 500 shares during the last quarter. Finally, Cordasco Financial Network acquired a new stake in shares of Fulgent Genetics in the fourth quarter valued at approximately $26,000. Institutional investors own 33.39% of the company’s stock.

Shares of FLGT stock traded down $1.64 during trading hours on Friday, reaching $83.96. The company had a trading volume of 15,051 shares, compared to its average volume of 2,109,711. The company has a 50 day moving average of $105.30 and a 200 day moving average of $70.41. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 42.38 and a beta of 1.92. Fulgent Genetics has a 1-year low of $9.22 and a 1-year high of $189.89.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc, together with its subsidiaries, provides COVID-19 testing and genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, adaptive learning software, and genetic diagnostics tools and integrated laboratory processes.

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Earnings History and Estimates for Fulgent Genetics (NASDAQ:FLGT)

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