Medina Value Partners LLC Buys New Stake in Fulgent Genetics, Inc. $FLGT

Medina Value Partners LLC purchased a new stake in Fulgent Genetics, Inc. (NASDAQ:FLGT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 193,061 shares of the company’s stock, valued at approximately $3,961,612. Fulgent Genetics accounts for 0.0% of Medina Value Partners LLC’s investment portfolio, making the stock its 27th biggest position. Medina Value Partners LLC owned 0.70% of Fulgent Genetics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Amundi boosted its holdings in shares of Fulgent Genetics by 289.2% in the 1st quarter. Amundi now owns 34,316 shares of the company’s stock worth $583,000 after buying an additional 25,500 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Fulgent Genetics by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 202,820 shares of the company’s stock worth $3,428,000 after buying an additional 45,279 shares in the last quarter. Legal & General Group Plc grew its position in shares of Fulgent Genetics by 14.1% during the 2nd quarter. Legal & General Group Plc now owns 21,025 shares of the company’s stock worth $418,000 after buying an additional 2,599 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Fulgent Genetics by 2.4% during the second quarter. Rhumbline Advisers now owns 33,139 shares of the company’s stock worth $659,000 after buying an additional 785 shares during the period. Finally, American Century Companies Inc. grew its holdings in Fulgent Genetics by 8.0% in the second quarter. American Century Companies Inc. now owns 52,168 shares of the company’s stock valued at $1,037,000 after purchasing an additional 3,860 shares during the period. 48.06% of the stock is owned by institutional investors.

Insider Buying and Selling at Fulgent Genetics

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FLGT shares. Weiss Ratings restated a “sell (e+)” rating on shares of Fulgent Genetics in a research note on Monday, July 6th. Wall Street Zen lowered shares of Fulgent Genetics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Finally, Piper Sandler raised their price target on Fulgent Genetics from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, Fulgent Genetics currently has an average rating of “Hold” and an average price target of $27.50.

Fulgent Genetics Trading Down 1.7%

NASDAQ FLGT traded down $0.34 on Friday, reaching $19.61. 192,531 shares of the stock were exchanged, compared to its average volume of 431,316. The company’s 50-day simple moving average is $19.59 and its two-hundred day simple moving average is $18.14. Fulgent Genetics, Inc. has a one year low of $13.46 and a one year high of $31.04. The firm has a market capitalization of $539.57 million, a PE ratio of -6.95 and a beta of 0.90.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.12). The firm had revenue of $85.39 million during the quarter, compared to analyst estimates of $94.00 million. Fulgent Genetics had a negative net margin of 26.05% and a negative return on equity of 4.93%. Fulgent Genetics has set its FY 2026 guidance at -2.350–2.220 EPS. Sell-side analysts forecast that Fulgent Genetics, Inc. will post -3.48 earnings per share for the current fiscal year.

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.