Royce & Associates LP decreased its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT – Get Rating) by 11.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,530 shares of the company’s stock after selling 6,593 shares during the quarter. Royce & Associates LP owned about 0.18% of Fulgent Genetics worth $2,041,000 at the end of the most recent quarter.
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A number of other large investors have also added to or reduced their stakes in the stock. Rockefeller Capital Management LP raised its stake in Fulgent Genetics by 1,120.5% during the third quarter. Rockefeller Capital Management LP now owns 2,148 shares of the company’s stock valued at $81,000 after buying an additional 1,972 shares during the last quarter. Victory Capital Management Inc. raised its stake in Fulgent Genetics by 2.7% during the third quarter. Victory Capital Management Inc. now owns 28,264 shares of the company’s stock valued at $1,078,000 after buying an additional 750 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Fulgent Genetics by 19.8% during the third quarter. Great West Life Assurance Co. Can now owns 23,671 shares of the company’s stock valued at $903,000 after buying an additional 3,912 shares during the last quarter. Assetmark Inc. raised its stake in Fulgent Genetics by 4.1% during the third quarter. Assetmark Inc. now owns 15,714 shares of the company’s stock valued at $599,000 after buying an additional 615 shares during the last quarter. Finally, TCW Group Inc. raised its stake in Fulgent Genetics by 6.0% during the third quarter. TCW Group Inc. now owns 93,736 shares of the company’s stock valued at $3,573,000 after buying an additional 5,346 shares during the last quarter. Hedge funds and other institutional investors own 43.22% of the company’s stock.
Fulgent Genetics Price Performance
Shares of FLGT opened at $33.51 on Wednesday. Fulgent Genetics, Inc. has a one year low of $28.53 and a one year high of $73.47. The firm has a market capitalization of $986.47 million, a P/E ratio of 3.85 and a beta of 1.55. The business has a fifty day moving average of $33.05 and a 200 day moving average of $40.99.
Fulgent Genetics (NASDAQ:FLGT – Get Rating) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.13. Fulgent Genetics had a return on equity of 22.10% and a net margin of 33.82%. The company had revenue of $105.66 million during the quarter, compared to analyst estimates of $103.70 million. Analysts expect that Fulgent Genetics, Inc. will post 4.93 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on FLGT shares. Piper Sandler cut Fulgent Genetics from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $65.00 to $40.00 in a research note on Thursday, December 8th. Raymond James started coverage on Fulgent Genetics in a research note on Friday, November 18th. They issued an “outperform” rating and a $45.00 price target for the company. Credit Suisse Group decreased their price target on Fulgent Genetics from $65.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, November 14th. Finally, StockNews.com started coverage on Fulgent Genetics in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.00.
Fulgent Genetics 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 inherent 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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