LPL Financial LLC grew its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 61.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,885 shares of the company’s stock after buying an additional 9,863 shares during the period. LPL Financial LLC owned 0.12% of Fulgent […] ‘They submitted incomplete documents to show 300 women precipitated violence’ About 29 percent of the FDI came through the Mauritius route. Get latest Business online at cnbctv18.com
LPL Financial LLC grew its holdings in shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) by 61.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,885 shares of the company’s stock after buying an additional 9,863 shares during the period. LPL Financial LLC owned 0.12% of Fulgent Genetics worth $1,036,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. California Public Employees Retirement System boosted its position in shares of Fulgent Genetics by 4.2% during the third quarter. California Public Employees Retirement System now owns 22,373 shares of the company’s stock valued at $896,000 after purchasing an additional 900 shares in the last quarter. American International Group Inc. boosted its position in shares of Fulgent Genetics by 16.2% during the third quarter. American International Group Inc. now owns 6,869 shares of the company’s stock valued at $275,000 after purchasing an additional 957 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Fulgent Genetics during the third quarter valued at approximately $41,000. Juncture Wealth Strategies LLC boosted its position in shares of Fulgent Genetics by 10.1% during the third quarter. Juncture Wealth Strategies LLC now owns 11,207 shares of the company’s stock valued at $449,000 after purchasing an additional 1,032 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Fulgent Genetics during the third quarter valued at approximately $58,000. 31.05% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the company. Piper Sandler lifted their price target on Fulgent Genetics from $73.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, November 10th. ValuEngine downgraded Fulgent Genetics from a “sell” rating to a “strong sell” rating in a report on Wednesday, November 11th. Oppenheimer reissued a “buy” rating and issued a $75.00 target price on shares of Fulgent Genetics in a report on Sunday, November 1st. Credit Suisse Group boosted their target price on Fulgent Genetics from $13.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday, September 25th. Finally, CSFB boosted their target price on Fulgent Genetics from $13.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday, September 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $53.83.
Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings results on Monday, November 9th. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $1.69. Fulgent Genetics had a return on equity of 43.81% and a net margin of 35.31%. On average, sell-side analysts expect that Fulgent Genetics, Inc. will post 4.08 EPS for the current year.
In related news, COO Jian Xie sold 1,000 shares of the company’s stock in a transaction on Wednesday, December 2nd. The stock was sold at an average price of $46.00, for a total transaction of $46,000.00. Following the completion of the sale, the chief operating officer now owns 434,085 shares in the company, valued at $19,967,910. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Paul Kim sold 100,000 shares of the company’s stock in a transaction on Monday, November 16th. The shares were sold at an average price of $46.17, for a total value of $4,617,000.00. Following the sale, the chief financial officer now owns 235,899 shares of the company’s stock, valued at approximately $10,891,456.83. The disclosure for this sale can be found here. In the last quarter, insiders have sold 142,621 shares of company stock valued at $6,575,371. 45.00% of the stock is owned by company insiders.
Fulgent Genetics Company Profile
Fulgent Genetics, Inc, together with its subsidiaries, provides genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, adaptive learning software, and genetic diagnostics tools and integrated laboratory processes.
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Author: ABMN Staff
Police held insidious prosecution: Devangana to court
JNU student and Pinjra Tod member Devangana Kalita, arrested under the stringent Unlawful Activities (Prevention) Act, alleged before a Delhi court on Friday that the police had carried out an insidious prosecution against her in a case related to north-east Delhi riots.
The submissions were made before Additional Sessions Judge Amitabh Rawat during hearing of her bail plea in the case related to larger conspiracy in the communal violence.
The police claimed in the chargesheet that Ms. Kalita, along with others, had allegedly given provocative speeches at protest sites to instigate the crowd.
Prosecution will counter the arguments of the accused on Saturday.
During the hearing on Friday, advocate Adit Pujari, appearing for Ms. Kalita, referred to the seizure memo files submitted with the chargesheet and said the police allegedly submitted incomplete documents deliberately to falsely show that around 300 women, who came from Jahangirpuri to Jafrabad where protests against the Citizenship Amendment Act (CAA) were held, precipitated the violence.
He said the prosecution’s case was that these women came allegedly armed with acid bottles and chilli powder and were instigated by Kalita and others to cause violence.
He said the prosecution has allegedly put selective messages from the WhatsApp chats of police officials to prove their purpose and chosen not to put on record the messages where they are aware that another kind of protests or march was ongoing by pro-CAA protestors.
The police have submitted screenshots of WhatsApp group where police is closely monitoring the movement of the 300 women who came from Jahangirpuri and allegedly precipitated the riots Police has deliberately declined to place on record messages from 12:39 pm to 12:49 pm with a view to paint an incomplete picture. Police suppressed the messages that were actually talking about the violence which started at Maujpur.
“This is mischievous. This is insidious. They are hiding these messages,” Pujari alleged.
The police chose to demonstrate one message to prove that women from Jahangirpuri had caused the violence, Mr. Pujari alleged.
December 05, 2020 00:33 IST
December 05, 2020 04:35 IST
FDI equity inflows into India cross $500 billion milestone
Foreign direct investment (FDI) equity inflows into India crossed the $ 500 billion milestone during April 2000 to September 2020 period, firmly establishing the country’s credentials as a safe and key investment destination in the world.
According to the data of the Department for Promotion of Industry and Internal Trade (DPIIT), the inflows during the period stood at $ 500.12 billion.
About 29 percent of the FDI came through the Mauritius route. It was followed by Singapore (21 percent), the US, the Netherlands, Japan (each 7 percent), and the UK (6 percent).
India received $ 144.71 billion from Mauritius and about $ 106 billion from Singapore during the period under review.
The other big investors have been from Germany, Cyprus, France and Cayman Islands.
Since 2015-16, FDI inflows have been recording significant growth. In that fiscal, the country received $ 40 billion FDI, an increase of 35 per cent over the previous year. In 2016-17, 2017-18, 2018-19 and 2019-20, the investments stood at $ 43.5 billion, $ 44.85 billion, $ 44.37 billion and $ 50 billion, respectively.
The key sectors which attracted the maximum of these inflows include services segment, computer software and hardware, telecommunications, trading, construction development, automobile, chemicals, and pharmaceuticals.
“Indian FDI journey began with the enactment of FEMA (that replaced the draconian FERA) in 1999. Looking back, the half-trillion-dollar FDI in India is an indication of foreign investor’s firm belief in India’s strong economic fundamentals, stable political outlook and sustained economic growth which generated returns for investors even during the global recession of 2007-08,” Nischal Arora, Partner- Regulatory, Nangia Andersen India said.
He said as the country cautiously steps into the next decade under the shadow of the ongoing pandemic, it is imperative that the government continues its measures to attract FDI in the manufacturing and high-end technology sectors.
Rajat Wahi, Partner, Deloitte India, said FDI equity inflows crossing $ 500 billion “is indeed a great milestone, and continues to show the trust and faith that the global investors have in India’s growing economy”.
This growth is a strong reflection of the market potential of India coupled with the steady-state of market reforms that India has undertaken since 2000, including opening up of various sectors of the economy to 100 per cent FDI over the last 5 years, he said.
When asked about what more steps the government can take to give a leg-up to increase FDI, Wahi said while the overall market potential of India will always be high, given the large population, many other factors like ease of doing business, land, labour laws, tax rates, availability of talent, logistics, and political stability also play important role in attracting FDI to any country.
“While we have improved significantly across many of these areas over the last decade, and especially over the last 5 years, there is still a long way to go for us to be able to compete with countries like China and other markets like Vietnam, Thailand, and Malaysia,” he added.
However, Gunjan Shah, Partner, Private Equity, Merger & Acquisitions & General Corporate, Shardul Amarchand Mangaldas, said: “I would not attribute this (crossing $ 500 billion mark) to increased investor confidence in the Indian market. There is a lot of liquidity around the world right now and the real test would be to see if a higher proportion of that is being deployed in India.