Foundation Medicine Inc. (NASDAQ:FMI) SVP Robert W. Hesslein sold 1,220 shares of the firm’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $23.65, for a total value of $28,853.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Foundation Medicine Inc. (NASDAQ:FMI) opened at 23.52 on Monday. Foundation Medicine Inc. has a one year low of $13.34 and a one year high of $25.31. The firm’s 50-day moving average price is $22.54 and its 200 day moving average price is $20.34. The firm’s market capitalization is $821.48 million.
Foundation Medicine (NASDAQ:FMI) last issued its earnings results on Tuesday, August 2nd. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by $0.05. Foundation Medicine had a negative net margin of 78.06% and a negative return on equity of 34.56%. The business had revenue of $28.24 million for the quarter, compared to the consensus estimate of $26.72 million. During the same period in the previous year, the firm earned ($0.98) EPS. The company’s revenue was up 25.7% compared to the same quarter last year. On average, equities analysts anticipate that Foundation Medicine Inc. will post ($3.12) earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of FMI. Swiss National Bank boosted its stake in shares of Foundation Medicine by 26.6% in the second quarter. Swiss National Bank now owns 24,743 shares of the company’s stock worth $462,000 after buying an additional 5,200 shares during the last quarter. State Treasurer State of Michigan acquired a new stake in shares of Foundation Medicine during the second quarter worth about $224,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Foundation Medicine by 3.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 122,264 shares of the company’s stock worth $2,281,000 after buying an additional 3,723 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Foundation Medicine by 12.0% in the second quarter. California State Teachers Retirement System now owns 28,221 shares of the company’s stock worth $527,000 after buying an additional 3,016 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Foundation Medicine by 0.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,014,913 shares of the company’s stock worth $37,598,000 after buying an additional 13,515 shares during the last quarter. 30.97% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the company. Zacks Investment Research raised Foundation Medicine from a “sell” rating to a “hold” rating in a report on Friday, September 9th. BTIG Research reaffirmed a “hold” rating on shares of Foundation Medicine in a report on Thursday, August 4th. Janney Montgomery Scott downgraded Foundation Medicine from a “neutral” rating to a “sell” rating and set a $15.00 target price on the stock. in a report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $25.00 target price on shares of Foundation Medicine in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $20.00.
Foundation Medicine Company Profile
Foundation Medicine, Inc is a molecular information company. The Company sells products that are enabled by its molecular information platform to physicians and biopharmaceutical companies. The Company’s segment is the business of delivering molecular information about cancer to its customers. Its products provide genomic information about each patient’s individual cancer, enabling physicians to optimize treatments in clinical practice and biopharmaceutical companies to develop targeted oncology therapies.
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