Raymond James Financial, Inc. lowered shares of Fulgent Genetic (NASDAQ:FLGT) from an outperform rating to a mkt perform rating in a research note published on Tuesday morning, MarketBeat Ratings reports.

FLGT has been the subject of several other research reports. Piper Jaffray Companies reaffirmed a buy rating on shares of Fulgent Genetic in a research report on Tuesday, October 24th. Zacks Investment Research raised Fulgent Genetic from a sell rating to a hold rating in a research report on Monday, October 9th. ValuEngine raised Fulgent Genetic from a sell rating to a hold rating in a research report on Monday, October 2nd. Finally, Credit Suisse Group lowered their price target on Fulgent Genetic from $11.00 to $10.00 and set an outperform rating for the company in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $7.25.

Shares of Fulgent Genetic (FLGT) traded down $0.04 during trading on Tuesday, reaching $3.32. The company’s stock had a trading volume of 93,734 shares, compared to its average volume of 44,096. The stock has a market capitalization of $58.90 and a price-to-earnings ratio of 171.50. Fulgent Genetic has a fifty-two week low of $2.72 and a fifty-two week high of $13.90.

Fulgent Genetic (NASDAQ:FLGT) last announced its quarterly earnings data on Monday, August 7th. The company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $4.64 million during the quarter, compared to analyst estimates of $5.03 million. Fulgent Genetic had a positive return on equity of 0.20% and a negative net margin of 0.36%. sell-side analysts forecast that Fulgent Genetic will post 0.07 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in shares of Fulgent Genetic by 2,046.0% in the 1st quarter. Wells Fargo & Company MN now owns 10,730 shares of the company’s stock worth $118,000 after purchasing an additional 10,230 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Fulgent Genetic in the 1st quarter worth about $122,000. Finally, William Blair Investment Management LLC raised its position in shares of Fulgent Genetic by 10.4% in the 2nd quarter. William Blair Investment Management LLC now owns 640,219 shares of the company’s stock worth $4,091,000 after purchasing an additional 60,508 shares during the last quarter. 16.78% of the stock is owned by hedge funds and other institutional investors.

Fulgent Genetic Company Profile

Fulgent Genetics, Inc is a technology company. The Company offers genetic testing to provide physicians with clinically actionable diagnostic information to improve quality of patient care. The Company has developed a technology platform that integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory processes.

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