Valley Brook Capital Group bought a new stake in Fulgent Genetics, Inc. (NASDAQ:FLGT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 500 shares of the company’s stock, valued at approximately $26,000.
Other hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC lifted its holdings in Fulgent Genetics by 78.0% in the fourth quarter. LPL Financial LLC now owns 46,081 shares of the company’s stock valued at $2,401,000 after buying an additional 20,196 shares during the period. Bank of New York Mellon Corp increased its stake in Fulgent Genetics by 40.1% in the fourth quarter. Bank of New York Mellon Corp now owns 136,483 shares of the company’s stock valued at $7,111,000 after purchasing an additional 39,052 shares in the last quarter. Wells Fargo & Company MN increased its stake in Fulgent Genetics by 118.1% in the third quarter. Wells Fargo & Company MN now owns 52,032 shares of the company’s stock valued at $2,083,000 after purchasing an additional 28,180 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in Fulgent Genetics in the fourth quarter valued at $99,000. Finally, HighPoint Advisor Group LLC bought a new stake in Fulgent Genetics in the fourth quarter valued at $1,528,000. Institutional investors and hedge funds own 33.39% of the company’s stock.
In other Fulgent Genetics news, Director John C. Bolger sold 3,374 shares of the company’s stock in a transaction dated Tuesday, March 9th. The shares were sold at an average price of $101.62, for a total value of $342,865.88. Following the completion of the sale, the director now directly owns 1,312 shares of the company’s stock, valued at approximately $133,325.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jian Xie sold 62,000 shares of the company’s stock in a transaction dated Tuesday, March 9th. The stock was sold at an average price of $102.65, for a total transaction of $6,364,300.00. Following the completion of the sale, the chief operating officer now directly owns 345,476 shares of the company’s stock, valued at $35,463,111.40. The disclosure for this sale can be found here. Corporate insiders own 45.00% of the company’s stock.
NASDAQ:FLGT opened at $85.24 on Friday. The firm has a 50-day moving average of $104.01 and a 200-day moving average of $70.66. The company has a market cap of $2.46 billion, a PE ratio of 42.20 and a beta of 1.92. Fulgent Genetics, Inc. has a one year low of $10.15 and a one year high of $189.89.
Fulgent Genetics (NASDAQ:FLGT) last posted its earnings results on Wednesday, March 3rd. The company reported $6.20 EPS for the quarter, topping the consensus estimate of $4.36 by $1.84. The company had revenue of $294.98 million during the quarter, compared to the consensus estimate of $199.38 million. Fulgent Genetics had a net margin of 35.31% and a return on equity of 43.81%. Fulgent Genetics’s revenue was up 3417.1% on a year-over-year basis. As a group, equities research analysts predict that Fulgent Genetics, Inc. will post 4.08 earnings per share for the current year.
Several research firms have weighed in on FLGT. Credit Suisse Group downgraded shares of Fulgent Genetics from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $42.00 to $40.00 in a research note on Friday, January 8th. Oppenheimer lifted their price target on shares of Fulgent Genetics from $75.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, February 1st. Zacks Investment Research downgraded shares of Fulgent Genetics from a “strong-buy” rating to a “sell” rating in a research note on Tuesday. Finally, Piper Sandler lifted their price target on shares of Fulgent Genetics from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, March 11th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $84.83.
Fulgent Genetics Company Profile
Fulgent Genetics, Inc, together with its subsidiaries, provides COVID-19 testing and genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, adaptive learning software, and genetic diagnostics tools and integrated laboratory processes.
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