Hennion & Walsh Asset Management Inc. Purchases New Holdings in Fulgent Genetics, Inc. $FLGT

Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 66,190 shares of the company’s stock, valued at approximately $1,739,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Amundi grew its stake in shares of Fulgent Genetics by 289.2% in the 1st quarter. Amundi now owns 34,316 shares of the company’s stock valued at $583,000 after purchasing an additional 25,500 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Fulgent Genetics by 28.7% during the first quarter. Goldman Sachs Group Inc. now owns 202,820 shares of the company’s stock worth $3,428,000 after purchasing an additional 45,279 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Fulgent Genetics by 1.6% during the second quarter. Geode Capital Management LLC now owns 513,343 shares of the company’s stock worth $10,207,000 after purchasing an additional 8,105 shares during the period. Creative Planning lifted its holdings in shares of Fulgent Genetics by 146.2% during the second quarter. Creative Planning now owns 40,021 shares of the company’s stock worth $796,000 after purchasing an additional 23,766 shares during the period. Finally, Legal & General Group Plc grew its position in Fulgent Genetics by 14.1% in the 2nd quarter. Legal & General Group Plc now owns 21,025 shares of the company’s stock valued at $418,000 after buying an additional 2,599 shares during the last quarter. 48.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FLGT has been the topic of several recent research reports. Wall Street Zen cut shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Zacks Research cut shares of Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fulgent Genetics in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $32.00.

Fulgent Genetics Trading Up 3.4%

FLGT stock opened at $16.44 on Thursday. The company’s 50-day moving average price is $20.13 and its 200 day moving average price is $23.79. Fulgent Genetics, Inc. has a 52 week low of $13.46 and a 52 week high of $31.04. The company has a market cap of $513.42 million, a P/E ratio of -8.39 and a beta of 0.89.

Fulgent Genetics (NASDAQ:FLGT) last issued its earnings results on Friday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14. Fulgent Genetics had a negative net margin of 18.75% and a negative return on equity of 2.22%. The company had revenue of $83.34 million during the quarter, compared to analysts’ expectations of $85.38 million. Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. On average, equities research analysts expect that Fulgent Genetics, Inc. will post -0.85 earnings per share for the current 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.