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Fulgent Genetics, Inc. (FLGT) Stock Sinks As Market Gains: What You Should Know

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Fulgent Genetics, Inc. (FLGT) closed the most recent trading day at $58, moving -1.46% from the previous trading session. This change lagged the S&P 500's daily gain of 0.13%. Elsewhere, the Dow gained 0.28%, while the tech-heavy Nasdaq lost 0.04%.

Heading into today, shares of the company had gained 3.64% over the past month, lagging the Medical sector's gain of 3.65% and the S&P 500's gain of 5.55% in that time.

Investors will be hoping for strength from Fulgent Genetics, Inc. as it approaches its next earnings release, which is expected to be August 4, 2022. In that report, analysts expect Fulgent Genetics, Inc. to post earnings of $0.73 per share. This would mark a year-over-year decline of 71.37%. Our most recent consensus estimate is calling for quarterly revenue of $122.7 million, down 20.13% from the year-ago period.

FLGT's full-year Zacks Consensus Estimates are calling for earnings of $6.23 per share and revenue of $649.6 million. These results would represent year-over-year changes of -61.97% and -34.55%, respectively.

Any recent changes to analyst estimates for Fulgent Genetics, Inc. should also be noted by investors. Recent revisions tend to reflect the latest 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.

Looking at its valuation, Fulgent Genetics, Inc. is holding a Forward P/E ratio of 9.45. Its industry sports an average Forward P/E of 19.22, so we one might conclude that Fulgent Genetics, Inc. is trading at a discount comparatively.

The Medical Info Systems industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 133, which puts it in the bottom 48% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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