Fulgent Genetics (NASDAQ:FLGT) ranks as one of the fastest-growing genetic testing companies around. But the company faces plenty of rivals. In this Motley Fool Live video recorded on Nov. 10, Motley Fool contributors Keith Speights and Brian Orelli answer a viewer's question about how Fulgent can stay ahead of the competition.
Keith Speights: Brad says he's really enjoying the conversation and discussion of results this morning. "How do you view Fulgent Genetics' earnings as they continue to scale and pivot going forward in the near term with so much competition?"
Brian Orelli: I think that they're really trying to become the go-to for doctors. I think that's the reason why they went and used the cash that they're generating from COVID-19, and went out and bought companies that are adjacent to genetic testing, so they would do like tissue staining testing on tumors.
This way, the doctors can send their tissue samples to Fulgent and they can do a whole bunch of different tests and the doctor can order them all from one place. That makes life much easier. I think that's the way Fulgent's trying to compete.
As you rightly point out, there's a lot of companies that are developing genetic testing. Then they're trying to make things as easy as possible and as efficient as possible. I think that's also a step in the right direction for doctors in their offices.