Fulgent Genetics, Inc. (FLGT) Q3 2024 Earnings Call Transcript
Fulgent Genetics, Inc. (NASDAQ:FLGT ) Q3 2024 Earnings Conference Call November 8, 2024 8:30 AM ET Company Participants Melanie Solomon - Investor Relations Ming Hsieh - Chairman, Chief Executive Officer Brandon Perthuis - Chief Commercial Officer Paul Kim - Chief Financial Officer Conference Call Participants Li Lu - UBS David Westenberg - Piper Sandler Andrew Cooper - Raymond James Operator Greetings and welcome to the Fulgent Genetics Q3 2024 Conference Call and Webcast. At this time, all participants are in a listen-only mode.
Fulgent Genetics, Inc. (FLGT) Surpasses Q3 Earnings and Revenue Estimates
Fulgent Genetics, Inc. (FLGT) came out with quarterly earnings of $0.31 per share, beating the Zacks Consensus Estimate of a loss of $0.19 per share. This compares to loss of $0.39 per share a year ago.
Fulgent Genetics (FLGT) Surges 5.8%: Is This an Indication of Further Gains?
Fulgent Genetics (FLGT) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
Fulgent Genetics: An NCAV Pick With Profit And Growth Potential
Fulgent Genetics is transitioning from a diagnostic business to a fully integrated healthcare company, with a focus on oncology. Despite past reliance on COVID-19 test revenues, Fulgent's core business has grown significantly, with a strong balance sheet and zero debt. Trading below a conservative estimate of liquidation value, Fulgent presents a rare investment opportunity with potential for future growth and margin expansion as a bonus.
Fulgent Genetics: Core Growth Re-Acceleration Will Be The Critical Catalyst
Fulgent Genetics' core revenue grew just 3% in H1 2024, with full-year guidance of $280 million implying a step-up to 11% growth in H2 and 7% for FY 2024. Growth in precision diagnostics (+35% in H1 2024) and gross margin expansion (+650 basis points) were the two bright spots in first half results. Headwinds in anatomic pathology and BioPharma services will soften starting H2 2024, paving the way for core growth re-acceleration and operating margin improvements.
Fulgent Genetics (FLGT) Upgraded to Buy: What Does It Mean for the Stock?
Fulgent Genetics (FLGT) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
How Much Upside is Left in Fulgent Genetics (FLGT)? Wall Street Analysts Think 27.22%
The mean of analysts' price targets for Fulgent Genetics (FLGT) points to a 27.2% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
Fulgent Genetics, Inc. (FLGT) Beats Q2 Earnings and Revenue Estimates
Fulgent Genetics, Inc. (FLGT) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of a loss of $0.31 per share. This compares to loss of $0.08 per share a year ago.
Fulgent Genetics (FLGT) Soars 6.6%: Is Further Upside Left in the Stock?
Fulgent Genetics (FLGT) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
