Illinois Municipal Retirement Fund Raises Holdings in Fulgent Genetics, Inc. (NASDAQ:FLGT)

Illinois Municipal Retirement Fund lifted its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,534 shares of the company’s stock after buying an additional 668 shares during the period. Illinois Municipal Retirement Fund’s holdings in Fulgent Genetics were worth $362,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FLGT. Invesco Ltd. grew its holdings in shares of Fulgent Genetics by 150.3% in the 3rd quarter. Invesco Ltd. now owns 312,627 shares of the company’s stock worth $8,360,000 after acquiring an additional 187,717 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Fulgent Genetics by 16.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 234,172 shares of the company’s stock worth $6,262,000 after acquiring an additional 32,875 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Fulgent Genetics by 9.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,382 shares of the company’s stock worth $2,764,000 after acquiring an additional 8,601 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in shares of Fulgent Genetics in the 3rd quarter worth approximately $2,430,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Fulgent Genetics by 31.3% in the 3rd quarter. Victory Capital Management Inc. now owns 71,810 shares of the company’s stock worth $1,920,000 after acquiring an additional 17,103 shares during the period. 48.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lowered their price target on Fulgent Genetics from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, March 6th.

Fulgent Genetics Stock Performance

Shares of NASDAQ:FLGT opened at $20.70 on Thursday. The business’s fifty day moving average price is $21.88 and its two-hundred day moving average price is $25.03. The stock has a market cap of $618.93 million, a PE ratio of -3.67 and a beta of 1.43. Fulgent Genetics, Inc. has a one year low of $19.88 and a one year high of $44.09.

Fulgent Genetics (NASDAQ:FLGT) last announced its earnings results on Wednesday, February 28th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.61. The firm had revenue of $70.51 million for the quarter, compared to analysts’ expectations of $67.14 million. Fulgent Genetics had a negative return on equity of 3.04% and a negative net margin of 58.03%. As a group, equities research analysts predict that Fulgent Genetics, Inc. will post -2.04 earnings per share for the current fiscal year.

About Fulgent Genetics

Fulgent Genetics, Inc, together with its subsidiaries, provides clinical diagnostic and therapeutic development solutions to physicians and patients in the United States and internationally. The company's clinical diagnostic solutions include molecular diagnostic testing; genetic testing; anatomic pathology laboratory tests and testing services, such as gastrointestinal pathology, dermatopathology, urologic pathology, breast pathology, neuropathology, and hematopathology; oncology tests and testing services; and sequencer services related to hereditary cancer, reproductive health, and other diseases.