Fulgent Genetics (NASDAQ:FLGT) Updates FY 2025 Earnings Guidance

Fulgent Genetics (NASDAQ:FLGT) issued an update on its FY 2025 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.300-0.300 for the period, compared to the consensus earnings per share estimate of -0.860. The company issued revenue guidance of $325.0 million-$325.0 million, compared to the consensus revenue estimate of $320.0 million.

Analysts Set New Price Targets

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

Fulgent Genetics Stock Performance

FLGT stock opened at $22.31 on Friday. The company has a market cap of $682.89 million, a price-to-earnings ratio of -13.44 and a beta of 0.92. The business’s 50-day moving average is $22.60 and its two-hundred day moving average is $20.82. Fulgent Genetics has a fifty-two week low of $14.57 and a fifty-two week high of $24.64.

Insider Buying and Selling at Fulgent Genetics

In related news, COO Jian Xie sold 1,199 shares of the firm’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $21.48, for a total transaction of $25,754.52. Following the completion of the transaction, the chief operating officer directly owned 365,249 shares of the company’s stock, valued at approximately $7,845,548.52. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 5,577 shares of company stock worth $121,024 in the last three months. 31.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in Fulgent Genetics by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 202,820 shares of the company’s stock valued at $3,428,000 after buying an additional 45,279 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Fulgent Genetics by 2.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 87,318 shares of the company’s stock worth $1,736,000 after acquiring an additional 2,128 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Fulgent Genetics during the 2nd quarter valued at approximately $1,598,000. Russell Investments Group Ltd. grew its holdings in shares of Fulgent Genetics by 136.4% in the second quarter. Russell Investments Group Ltd. now owns 68,324 shares of the company’s stock valued at $1,348,000 after purchasing an additional 39,418 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Fulgent Genetics by 8.0% in the second quarter. American Century Companies Inc. now owns 52,168 shares of the company’s stock valued at $1,037,000 after purchasing an additional 3,860 shares in the last quarter. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Fulgent Genetics Company Profile

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.