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

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In the latest trading session, FULGENT GENETIC (FLGT - Free Report) closed at $87.17, marking a -0.31% move from the previous day. This change lagged the S&P 500's 0.75% gain on the day.

Heading into today, shares of the company had gained 22.69% over the past month, outpacing the Medical sector's gain of 5.21% and the S&P 500's gain of 2.91% 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 $2.57 per share, which would represent year-over-year growth of 1411.76%. 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.

Investors might also notice recent changes to analyst estimates for FLGT. 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. FLGT is currently a Zacks Rank #3 (Hold).

Looking at its valuation, FLGT is holding a Forward P/E ratio of 6.96. This represents a discount compared to its industry's average Forward P/E of 22.55.

The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 230, putting it in the bottom 10% 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.

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


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