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FULGENT GENETIC (FLGT) Dips More Than Broader Markets: What You Should Know

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FULGENT GENETIC (FLGT - Free Report) closed at $69.07 in the latest trading session, marking a -1.1% move from the prior day. This change lagged the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.12%.

Heading into today, shares of the company had gained 61% over the past month, outpacing the Medical sector's gain of 2.06% and the S&P 500's gain of 4.12% in that time.

FLGT will be looking to display strength as it nears its next earnings release. On that day, FLGT is projected to report earnings of $2.13 per share, which would represent year-over-year growth of 5225%. Meanwhile, our latest consensus estimate is calling for revenue of $143.65 million, up 1612.16% from the prior-year quarter.

It is also important to note the recent changes to analyst estimates for FLGT. 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. FLGT currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that FLGT has a Forward P/E ratio of 12.25 right now. For comparison, its industry has an average Forward P/E of 22.02, which means FLGT is trading at a discount to the group.

The Medical Info Systems industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 241, which puts it in the bottom 6% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

To follow FLGT in the coming trading sessions, be sure to utilize Zacks.com.


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