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On Thursday, Fulgent Genetics (NASDAQ:FLGT), Inc., currently trading at $20.04 and showing strong financial health according to InvestingPro analysis, conducted its 2025 Annual Meeting of Stockholders at its headquarters in El Monte, California. The company maintains a robust balance sheet with more cash than debt and a healthy current ratio of 6.32x. With 82% of the eligible shares represented, the meeting achieved a quorum. Key actions taken during the meeting included the election of four directors to serve until the 2026 Annual Meeting and the ratification of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. Additionally, stockholders approved, on a non-binding advisory basis, the compensation of the company’s named executive officers.
The directors elected were Ming Hsieh, Michael Nohaile, Ph.D., Regina Groves, and Linda Marsh. The votes for each director ranged from approximately 13.8 million to 19.3 million, with withheld votes ranging from approximately 839,000 to 6.3 million, and broker non-votes around 5.1 million for each nominee.
For the ratification of Deloitte & Touche LLP, the proposal received overwhelming support with over 25 million votes in favor, around 115,000 against, and approximately 28,000 abstentions.
The advisory approval of executive compensation saw over 16 million votes in favor, nearly 3.8 million against, and around 60,000 abstentions, with broker non-votes again at about 5.1 million.
These results reflect the stockholders’ support for the company’s current direction and governance. The company’s stock has shown momentum with a 13.58% return over the past six months, and according to InvestingPro analysis, currently trades below its Fair Value. Investors seeking detailed insights can access comprehensive analysis and additional ProTips through InvestingPro’s research reports. This information is based on a press release statement and market data.
In other recent news, Fulgent Genetics reported its first-quarter 2025 earnings, surpassing analyst expectations with an earnings per share (EPS) of $0.04, compared to the forecasted -$0.08. Despite a slight revenue miss, the company reported a revenue of $73.5 million, slightly below forecasts. Fulgent Genetics maintained a strong cash position with $814.6 million, reflecting its solid financial footing. The company issued conservative guidance for the remainder of 2025, focusing on strategic investments and potential mergers and acquisitions. Analysts from UBS and Piper Sandler questioned the company’s conservative guidance despite strong Q1 performance, highlighting the need for clarity on sales expansion and investment plans. The company also announced its ongoing clinical trials, including FID-seven in Phase II and FID-twenty two set to begin Phase I trials, both aimed at treating various cancers. Additionally, Fulgent Genetics has been actively deploying capital for stock buybacks and exploring potential mergers and acquisitions to enhance its distribution network. The company reiterated its outlook for 2025, expecting core revenue of $310 million, indicating a 10% year-over-year growth.
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