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Fulgent Genetics, Inc. (FLGT) Dips More Than Broader Markets: What You Should Know

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Fulgent Genetics, Inc. (FLGT - Free Report) closed at $54.65 in the latest trading session, marking a -0.35% move from the prior day. This change lagged the S&P 500's daily loss of 0.07%. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq added 0.02%.

Coming into today, shares of the company had gained 0.61% in the past month. In that same time, the Medical sector lost 5.47%, while the S&P 500 lost 7.99%.

Investors will be hoping for strength from Fulgent Genetics, Inc. as it approaches its next earnings release. On that day, Fulgent Genetics, Inc. is projected to report earnings of $0.73 per share, which would represent a year-over-year decline of 71.37%. Our most recent consensus estimate is calling for quarterly revenue of $122.4 million, down 20.32% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.23 per share and revenue of $652.6 million. These totals would mark changes of -61.97% and -34.25%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for Fulgent Genetics, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.

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. The Zacks Consensus EPS estimate remained stagnant within the past month. Fulgent Genetics, Inc. is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note Fulgent Genetics, Inc.'s current valuation metrics, including its Forward P/E ratio of 8.8. For comparison, its industry has an average Forward P/E of 19.65, which means Fulgent Genetics, Inc. 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 104, which puts it in the top 42% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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