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Shares That Can Double Your Money - Fulgent Genetics
Shares That Can Double Your Money - Fulgent Genetics, Fulgent Genetics Twilio, the test developed for COVID-19 (RT-PCR)
Yazar: Zack Smith
Yayınlanma: 15 Ocak 2021 20:45
Güncellenme: 7 Kasım 2024 11:00
Shares That Can Double Your Money - Fulgent Genetics
Although the COVID-19 pandemic has wreaked havoc in various industries and markets, Twilio (NYSE: TWLO) and Fulgent Genetics (NASDAQ: FLGT) generated 228 percent and 317 percent returns in 2020, respectively. Both businesses have taken steps that will continue to benefit them in the future. These smart moves provided the right conditions for doubling your savings in 2021.2. Fulgent Genetics
COVID-19 vaccine news has affected the share prices of the company that provides many COVID-19 test kits. However, genetic tester Fulgent Genetics was relatively unaffected by this situation. Fulgent's share price gained more than 360 percent in the past year. It is expected to continue its rise in 2021.
The company generated revenue of $ 300 million in fiscal 2020, an increase of more than 800 percent compared to the same period of the previous year. Much of this growth is due to the phenomenal success of (RT-PCR) tests developed for COVID-19.
In the third quarter of 2020, Fulgent Genetics' revenue reached $ 101.7 million, an increase of 883 percent compared to the same period last year. The increase in COVID-19 cases in the US and Europe coupled with the coronavirus mutation that emerged in the UK (70 percent more contagious) continued to drive demand and significantly increased the company's test orders. There are several administrative challenges in the US with the introduction of COVID-19 vaccines. Of the 21.4 million vaccines distributed as of January 8, only 5.9 million (28 percent) have been administered, according to the US Center for Disease Control and Prevention data.
Fulgent Genetics claims 590,000 insurance claims in the third quarter
Fulgent Genetics is reporting an increase in the volume of genetic testing, its core business, alongside its COVID-19 offerings. The company can also cross-increase the sales of its genetic tests by taking advantage of the brand awareness created by the COVID-19 tests. Fulgent Genetics filed 590,000 insurance claims in the third quarter. This figure is impressive for a company that receives mostly cash payments. The company is trying to build a network of diagnostic providers for major insurance companies, a move that will further increase testing capacity. Fulgent Genetics has a healthy balance sheet with zero debt and $ 104 million in cash at the end of the third quarter. In this context, Fulgent Genetics offers a very attractive take on risk reward offer for healthcare investors in 2021. Shares That Can Double Your Money - Fulgent GeneticsShould You Deposit a Thousand Dollars to Fulgent Genetics (NASDAQ: FLGT) Right Now?
Source: https://www.fool.com/
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