FULGENT GENETIC (FLGT) Gains As Market Dips: What You Should Know

·3-min read

FULGENT GENETIC (FLGT) closed at $92.25 in the latest trading session, marking a +0.36% move from the prior day. This move outpaced the S&P 500's daily loss of 0.54%.

Heading into today, shares of the company had gained 5.12% over the past month, outpacing the Medical sector's loss of 3.77% and the S&P 500's gain of 3.05% in that time.

Wall Street will be looking for positivity from FLGT as it approaches its next earnings report date. This is expected to be August 9, 2021. On that day, FLGT is projected to report earnings of $2.57 per share, which would represent year-over-year growth of 1411.76%. Our most recent consensus estimate is calling for quarterly revenue of $194.61 million, up 1026.86% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $12.57 per share and revenue of $829.46 million, which would represent changes of +38.13% and +96.69%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for FLGT. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection remained stagnant. FLGT is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, FLGT currently has a Forward P/E ratio of 7.31. Its industry sports an average Forward P/E of 22.97, so we one might conclude that FLGT is trading at a discount comparatively.

The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 222, putting it in the bottom 13% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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