Author: Waleed M. Tariq
- Fulgent Genetics offers COVID-19 and genetic tests.
- Core revenue increased and diluted EPS doubled Year-over-Year.
- Omicron’s proactive core business operations make me optimistic about Fulgent’s shares.
- Fulgent Genetics is growing because to COVID-19 testing.
- FLGT has a strong balance sheet, strong financial performance, and targeted investments.
- COVID revenue has been transformed into cash and cash equivalents, which should surpass $1 billion by year’s end.
- COVID-19 testing services may be dropping, hurting the company’s growth.
- Since introducing COVID-19, income has risen 1295% to $421 million. In 2020-2021, the stock rose from $17 to $189.
- Fulgent’s NGS platform will provide sequencing data to the CDC for a large-scale genomic study of the virus using random U.S. samples.
- The next annual report will outline how the corporation will use its cash reserves. More investments and acquisitions are likely.
- Fulgent’s main business should earn $115 million in 2021, up 215 percent year-over-year, with an 80% gross margin and 60% operating profit.
Acquisition of CSI
- CSI Labs gives the organization access to new geographies and 400 tests.
- Any price volatility due to COVID-related revenue declines is anticipated to be short-lived, given the company’s core business is positioned for growth.