Fulgent Is Putting Its Cash Bonanza To Work

  • The company has raked in well over $1B of cash from its epic Covid testing ramp up, apart from a host of contacts and putting the company on the map.
  • It is spending some of that on acquisitions and a massive stock buyback that is yet to commence.
  • However, this is counterbalanced by profitability taking a sharp downward turn as testing volume declines on Covid declines.
  • It isn’t entirely clear whether this is just a volume effect but some of it is likely also the result of Covid testing being more profitable than their core NGS test business.
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Fulgent Is Putting Its Cash Bonanza To Work (NASDAQ:FLGT)