Medina Value Partners LLC Invests $3.96 Billion in Fulgent Genetics, Inc. $FLGT

Medina Value Partners LLC purchased a new stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 193,061 shares of the company’s stock, valued at approximately $3,961,612,000. Fulgent Genetics comprises 0.8% of Medina Value Partners LLC’s holdings, making the stock its 27th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Fulgent Genetics in the 2nd quarter worth $46,922,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Fulgent Genetics by 2,984,354.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,522,072 shares of the company’s stock worth $39,985,000 after purchasing an additional 1,522,021 shares during the period. Millennium Management LLC grew its stake in shares of Fulgent Genetics by 1.8% in the third quarter. Millennium Management LLC now owns 1,468,844 shares of the company’s stock worth $33,196,000 after purchasing an additional 26,582 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Fulgent Genetics by 1.1% in the third quarter. Vanguard Group Inc. now owns 1,179,254 shares of the company’s stock worth $26,651,000 after purchasing an additional 13,295 shares during the last quarter. Finally, RTW Investments LP purchased a new position in Fulgent Genetics during the 4th quarter valued at about $18,521,000. Hedge funds and other institutional investors own 48.06% of the company’s stock.

Insider Activity at Fulgent Genetics

In related news, insider Hanlin Gao sold 1,688 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $30,198.32. Following the completion of the transaction, the insider owned 990,374 shares of the company’s stock, valued at $17,717,790.86. This trade represents a 0.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,146 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $38,391.94. Following the transaction, the chief operating officer directly owned 367,605 shares of the company’s stock, valued at approximately $6,576,453.45. This trade represents a 0.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 36.18% of the stock is currently owned by company insiders.

Fulgent Genetics Price Performance

Shares of Fulgent Genetics stock opened at $19.95 on Wednesday. Fulgent Genetics, Inc. has a 1 year low of $13.46 and a 1 year high of $31.04. The firm has a market cap of $548.82 million, a price-to-earnings ratio of -7.07 and a beta of 0.90. The company has a 50-day moving average of $19.51 and a 200 day moving average of $18.19.

Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.12). The business had revenue of $85.39 million for the quarter, compared to the consensus estimate of $94.00 million. Fulgent Genetics had a negative return on equity of 4.93% and a negative net margin of 26.05%.Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. On average, equities analysts anticipate that Fulgent Genetics, Inc. will post -3.48 EPS for the current year.

Analysts Set New Price Targets

FLGT has been the subject of a number of recent analyst reports. Wall Street Zen lowered Fulgent Genetics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Fulgent Genetics in a research report on Monday, July 6th. Finally, Piper Sandler raised their target price on Fulgent Genetics from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $27.50.

Fulgent Genetics Profile

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.