Raymond James Financial, Inc. Lowers Fulgent Genetic (FLGT) to Mkt Perform
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.
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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