Some Investing Thoughts On Fulgent Genetics Inc. (NASDAQ: FLGT)


    Eagle Asset Management, Inc. has recently announced that it has increased stake in Fulgent Genetics Inc. (NASDAQ:FLGT) by 133.93%. After grabbing 0.79 million shares, the institutional investor is now in possession of 0.45 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 3.62% having worth around $20.77 million. Moreover, BlackRock Fund Advisors increased its share by 0.5 million to have a control over 0.65 million shares. And The Vanguard Group, Inc. raised its holdings to 77411.0 shares by acquiring 0.56 million shares or 2.58% of the stake.

    Fulgent Genetics Inc. (FLGT) concluded trading on 08/27/20 at a closing price of $32.22, with 3.11 million shares of worth about $100.13 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -36.21% during that period and on Thursday the price saw a loss of about -28.08%. Currently the company’s common shares owned by public are about 21.75M shares, out of which, 10.59M shares are available for trading.

    A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 4 analysts are covering the FLGT stock and their offered price forecasts bring an average price target of $49.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $75.00 and could fall to a lowest price of $13.00. Analysts also issued an outlook of 2.00 for the Fulgent Genetics Inc. stock for next 12 months. The stock’s current price level is -85.92% below of average price target set by the analysts, while a dip to estimated low would result in loss of -147.85 for the stock. However, touching the estimated high of $75.00 would mean a gain of 57.04% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 23 times over the past 12 months. They bought 287,762 shares in 6 of the transactions. In 17 selling transactions, insiders dumped 1,187,638 shares.

    Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Russell US Small Cap Equity Fund are the top 3 mutual funds which are holding stakes in Fulgent Genetics Inc. Vanguard Total Stock Market Index is currently holding 0.28 million shares of worth totaling $7.37 million. The company recently came buying 0.0 shares which brought its stake up to 1.28% of the company’s outstanding shares. iShares Russell 2000 ETF sold 9520.0 shares, after which its hold over company’s outstanding shares shrunk to 0.93%, leaving 0.2 million shares with the mutual fund that have a worth of about $5.32 million. Russell US Small Cap Equity Fund, after buying 0.19 million shares, have now control over 0.87% of the stake in the company. It holds 45185.0 shares of worth $4.97 million.

    Fulgent Genetics Inc. (NASDAQ: FLGT) started trading at $39.90, below -$4.9 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $32.22, or with a loss of -28.08%. Stock saw a price change of -36.21% in past 5 days and over the past one month there was a price change of 25.57%. Year-to-date (YTD), FLGT shares are showing a performance of 149.77% which increased to 164.32% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.70 but also hit the highest price of $52.47 during that period. While comparing its average daily trading volume of 604.50K shares, we see that about 3.11 million changed hands on the day. The stock is currently trading -19.45% below its 20-day simple moving average (SMA20), while that difference is up 17.88% for SMA50 and it goes to 85.67% higher than SMA200.

    Eagle Asset Management, Inc. acquired 0.79 million shares of Fulgent Genetics Inc. having value of about $20.77 million. Data submitted at the U.S SEC by Eagle Asset Management, Inc. revealed that the firm now holds 0.45 million shares in the company valued at close to $14542529.22, or have control over 133.93% stake in the company. Fulgent Genetics Inc. (NASDAQ: FLGT) currently have 21.75M outstanding shares and institutions hold larger chunk of about 30.70% of that. Holding of mutual funds in the company is about 58.14% while other institutional holders and individual stake holders have control over 8.68% and 21.37% of the stake respectively.

    The stock has a current market capitalization of $740.42M and its 3Y-monthly beta is at 2.16. PE ratio of stock for trailing 12 months is 282.63, while it has posted earnings per share of $0.11 in the same period. Its PEG reads 6.36 and has Quick Ratio of 6.30 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FLGT, volatility over the week remained 12.95% while standing at 12.51% over the month.

    Analysts are in expectations that Fulgent Genetics Inc. (FLGT) stock would likely to be making an EPS of $0.53 in the current quarter, while forecast for next quarter ESPS is $0.67 and it is $2.09 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.44 which is $0.67 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.14 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 93.00% while it is estimated to increase by 75.67% in next year. EPS is likely to grow at an annualized rate of 44.45% for next 5-years, compared to annual growth of 17.30% made by the stock over the past 5-years.

    Analysts at 4 brokerage firms have issued recommendations for the Fulgent Genetics Inc. (FLGT)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 4 Wall Street analysts, 3 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Oppenheimer on August 20, 2020 offering an Outperform rating for the stock and assigned a target price of $75 to it. Coverage by BTIG Research stated Fulgent Genetics Inc. (FLGT) stock as a Buy in their note to investors on May 29, 2020, suggesting a price target of $20 for the stock. On November 05, 2019, Piper Jaffray Upgrade their recommendations, while on March 01, 2018, Piper Jaffray Downgrade their ratings for the stock with a price target of. Stock get a Mkt perform rating from Raymond James on November 07, 2017.


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