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

FULGENT GENETIC (FLGT) closed at $84 in the latest trading session, marking a +0.1% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.18%.

Coming into today, shares of the company had gained 19.85% in the past month. In that same time, the Medical sector gained 1.05%, while the S&P 500 gained 0.04%.

FLGT will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.57, up 1411.76% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.

Any recent changes to analyst estimates for FLGT should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. FLGT currently has a Zacks Rank of #3 (Hold).

In terms of valuation, FLGT is currently trading at a Forward P/E ratio of 6.68. This valuation marks a discount compared to its industry's average Forward P/E of 22.15.

The Medical Info Systems industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 213, which puts it in the bottom 17% 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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