Prudential Financial Inc. lifted its holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT – Get Rating) by 19.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,089 shares of the company's stock after acquiring an additional 14,605 shares during the period. Prudential Financial Inc. owned approximately 0.29% of Fulgent Genetics worth $3,358,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Los Angeles Capital Management LLC grew its holdings in Fulgent Genetics by 74.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 19,614 shares of the company's stock valued at $1,070,000 after purchasing an additional 8,388 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Fulgent Genetics by 20.6% during the 2nd quarter. Victory Capital Management Inc. now owns 27,514 shares of the company's stock valued at $1,500,000 after purchasing an additional 4,693 shares in the last quarter. Ronald Blue Trust Inc. grew 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. Texas Permanent School Fund boosted its stake in Fulgent Genetics by 2.4% during the 3rd quarter. Texas Permanent School Fund now owns 14,587 shares of the company's stock valued at $556,000 after acquiring an additional 339 shares during the last quarter. Finally, Pavadi Capital LLC boosted its stake in Fulgent Genetics by 18.9% during the 2nd quarter. Pavadi Capital LLC now owns 81,277 shares of the company's stock valued at $4,432,000 after acquiring an additional 12,944 shares during the last quarter. Institutional investors and hedge funds own 43.22% of the company's stock.
Get Fulgent Genetics alerts:Wall Street Analyst Weigh In
A number of research firms have commented on FLGT. Raymond James began coverage on shares of Fulgent Genetics in a research note on Friday, November 18th. They set an "outperform" rating and a $45.00 price objective on the stock. Credit Suisse Group reduced their price objective on shares of Fulgent Genetics from $65.00 to $50.00 and set an "outperform" rating on the stock in a research note on Monday, November 14th. Piper Sandler downgraded shares of Fulgent Genetics from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $65.00 to $40.00 in a research note on Thursday, December 8th. Finally, StockNews.com initiated coverage on shares of Fulgent Genetics in a research report on Wednesday, October 12th. They issued a "hold" rating on the stock. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Fulgent Genetics has a consensus rating of "Moderate Buy" and a consensus price target of $45.00.
Fulgent Genetics Stock Performance
Fulgent Genetics stock opened at $36.21 on Friday. The company has a market cap of $1.07 billion, a P/E ratio of 4.16 and a beta of 1.58. The firm's 50-day moving average is $32.72 and its 200-day moving average is $39.79. Fulgent Genetics, Inc. has a 1 year low of $28.53 and a 1 year high of $73.47.
Fulgent Genetics (NASDAQ:FLGT – Get Rating) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.13. The firm had revenue of $105.66 million for the quarter, compared to the consensus estimate of $103.70 million. Fulgent Genetics had a net margin of 33.82% and a return on equity of 22.10%. As a group, sell-side analysts predict that Fulgent Genetics, Inc. will post 4.93 earnings per share for the current year.
Fulgent Genetics Company Profile
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Fulgent Genetics, Inc is a technology company, which engages in the provision of gene testing and sequencing solutions. It offers genes and panels, known mutation, hereditary cancer, carrier screening, and tumor profiling solutions. The company was founded on May 13, 2016 and is headquartered in Temple City, CA.
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