New York State Teachers Retirement System Sells 970 Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT)

New York State Teachers Retirement System lessened its stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGTGet Rating) by 3.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 25,850 shares of the company’s stock after selling 970 shares during the period. New York State Teachers Retirement System’s holdings in Fulgent Genetics were worth $985,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. lifted its position in shares of Fulgent Genetics by 416.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 491 shares of the company’s stock worth $30,000 after buying an additional 396 shares during the period. Total Clarity Wealth Management Inc. acquired a new stake in Fulgent Genetics during the 2nd quarter valued at $29,000. Ronald Blue Trust Inc. increased its holdings in Fulgent Genetics by 1,114.0% during the 3rd quarter. Ronald Blue Trust Inc. now owns 607 shares of the company’s stock valued at $33,000 after purchasing an additional 557 shares in the last quarter. Banque Cantonale Vaudoise increased its holdings in Fulgent Genetics by 86.6% during the 2nd quarter. Banque Cantonale Vaudoise now owns 1,153 shares of the company’s stock valued at $63,000 after purchasing an additional 535 shares in the last quarter. Finally, KBC Group NV acquired a new stake in Fulgent Genetics during the 2nd quarter valued at $93,000. Institutional investors own 43.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FLGT shares. StockNews.com started coverage on Fulgent Genetics in a report on Wednesday, October 12th. They set a “hold” rating for the company. Credit Suisse Group dropped their price target on Fulgent Genetics from $65.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, November 14th. Piper Sandler cut Fulgent Genetics from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $65.00 to $40.00 in a research note on Thursday, December 8th. Finally, Raymond James assumed coverage on Fulgent Genetics in a research note on Friday, November 18th. They issued an “outperform” rating and a $45.00 target price for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Fulgent Genetics presently has an average rating of “Moderate Buy” and an average target price of $65.00.

Fulgent Genetics Stock Performance

NASDAQ:FLGT opened at $31.85 on Friday. The stock’s 50-day simple moving average is $33.29 and its 200 day simple moving average is $41.72. The company has a market cap of $937.60 million, a P/E ratio of 3.66 and a beta of 1.55. Fulgent Genetics, Inc. has a 52-week low of $28.53 and a 52-week high of $73.47.

Fulgent Genetics (NASDAQ:FLGTGet Rating) last posted its earnings results on Monday, November 7th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.13. The company had revenue of $105.66 million for the quarter, compared to the consensus estimate of $103.70 million. Fulgent Genetics had a return on equity of 22.10% and a net margin of 33.82%. As a group, equities analysts predict that Fulgent Genetics, Inc. will post 4.93 earnings per share for the current fiscal year.

About Fulgent Genetics

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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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Institutional Ownership by Quarter for Fulgent Genetics (NASDAQ:FLGT)

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