Oppenheimer & Co. Inc. reduced its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT – Get Rating) by 13.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,620 shares of the company’s stock after selling 841 shares during the period. Oppenheimer & Co. Inc.’s holdings in Fulgent Genetics were worth $351,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Rise Advisors LLC bought a new position in shares of Fulgent Genetics during the 4th quarter worth about $46,000. Confluence Wealth Services Inc. bought a new position in shares of Fulgent Genetics during the 4th quarter worth about $50,000. First Quadrant LLC CA bought a new position in shares of Fulgent Genetics during the 1st quarter worth about $43,000. Nisa Investment Advisors LLC bought a new position in shares of Fulgent Genetics during the 1st quarter worth about $44,000. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Fulgent Genetics during the 4th quarter worth about $107,000. 43.22% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
FLGT has been the topic of a number of research analyst reports. TheStreet cut shares of Fulgent Genetics from a “b-” rating to a “c+” rating in a research report on Thursday, July 28th. Piper Sandler dropped their price target on shares of Fulgent Genetics from $85.00 to $70.00 in a research report on Sunday, May 15th. Finally, Credit Suisse Group started coverage on shares of Fulgent Genetics in a research report on Wednesday, August 24th. They issued an “outperform” rating and a $65.00 price target on the stock.
Fulgent Genetics Stock Performance
Fulgent Genetics (NASDAQ:FLGT – Get Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. Fulgent Genetics had a net margin of 42.41% and a return on equity of 33.04%. The firm had revenue of $125.30 million for the quarter, compared to analysts’ expectations of $122.70 million. During the same quarter last year, the firm earned $2.47 EPS. The company’s quarterly revenue was down 18.4% compared to the same quarter last year. On average, sell-side analysts predict that Fulgent Genetics, Inc. will post 5.26 EPS for the current year.
Insiders Place Their Bets
In other Fulgent Genetics news, COO Jian Xie sold 675 shares of Fulgent Genetics stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $44.18, for a total transaction of $29,821.50. Following the transaction, the chief operating officer now owns 309,729 shares of the company’s stock, valued at approximately $13,683,827.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 29.50% of the company’s stock.
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 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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