Fulgent Genetics, Inc. (FLGT) Gains As Market Dips: What You Should Know
Fulgent Genetics, Inc. (FLGT) closed the most recent trading day at $58.31, moving +0.4% from the previous trading session. This change outpaced the S&P 500's 0.3% loss on the day. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq lost 0.28%.
Coming into today, shares of the company had gained 16.6% in the past month. In that same time, the Medical sector gained 5.06%, while the S&P 500 gained 1.51%.
Investors will be hoping for strength from Fulgent Genetics, Inc. as it approaches its next earnings release. The company is expected to report EPS of $0.73, down 71.37% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $122.4 million, down 20.32% from the year-ago period.
FLGT's full-year Zacks Consensus Estimates are calling for earnings of $6.23 per share and revenue of $652.6 million. These results would represent year-over-year changes of -61.97% and -34.25%, respectively.
It is also important to note the recent changes to analyst estimates for Fulgent Genetics, Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Fulgent Genetics, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Fulgent Genetics, Inc. currently has a Forward P/E ratio of 9.32. For comparison, its industry has an average Forward P/E of 18.41, which means Fulgent Genetics, Inc. is trading at a discount to the group.
The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FLGT in the coming trading sessions, be sure to utilize Zacks.com.
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