Foundation Medicine, Inc. (FMI) Expected to Announce Earnings of -$1.07 Per Share

Analysts expect Foundation Medicine, Inc. (NASDAQ:FMI) to report earnings of ($1.07) per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Foundation Medicine’s earnings, with estimates ranging from ($1.20) to ($0.99). Foundation Medicine reported earnings of ($0.90) per share in the same quarter last year, which indicates a negative year over year growth rate of 18.9%. The firm is scheduled to report its next earnings report after the market closes on Wednesday, November 1st.

According to Zacks, analysts expect that Foundation Medicine will report full year earnings of ($4.59) per share for the current year, with EPS estimates ranging from ($4.80) to ($4.41). For the next financial year, analysts anticipate that the company will post earnings of ($3.86) per share, with EPS estimates ranging from ($4.30) to ($3.28). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Foundation Medicine.

Foundation Medicine (NASDAQ:FMI) last announced its quarterly earnings data on Tuesday, August 1st. The company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.16). The firm had revenue of $35.00 million during the quarter, compared to analysts’ expectations of $34.94 million. Foundation Medicine had a negative net margin of 131.79% and a negative return on equity of 109.63%. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.84) EPS.

FMI has been the topic of a number of research analyst reports. BidaskClub downgraded Foundation Medicine from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research downgraded Foundation Medicine from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $35.00.

Shares of Foundation Medicine (NASDAQ:FMI) traded down 2.00% on Monday, reaching $41.65. The company’s stock had a trading volume of 153,969 shares. The company has a 50 day moving average of $41.22 and a 200 day moving average of $38.15. Foundation Medicine has a 1-year low of $17.10 and a 1-year high of $47.35. The stock’s market capitalization is $1.50 billion.

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In related news, CFO Jason Ryan sold 1,152 shares of the stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $45.05, for a total transaction of $51,897.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Daly sold 46,872 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $39.50, for a total value of $1,851,444.00. Following the transaction, the insider now owns 163,133 shares in the company, valued at $6,443,753.50. The disclosure for this sale can be found here. Insiders sold 120,070 shares of company stock worth $4,710,455 over the last 90 days. Company insiders own 2.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC lifted its position in Foundation Medicine by 146.0% during the second quarter. Lord Abbett & CO. LLC now owns 579,225 shares of the company’s stock worth $23,024,000 after buying an additional 343,770 shares during the period. Adalta Capital Management LLC lifted its position in Foundation Medicine by 4.6% during the second quarter. Adalta Capital Management LLC now owns 131,480 shares of the company’s stock worth $5,227,000 after buying an additional 5,725 shares during the period. The Manufacturers Life Insurance Company lifted its position in Foundation Medicine by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 11,747 shares of the company’s stock worth $467,000 after buying an additional 341 shares during the period. State Street Corp lifted its position in Foundation Medicine by 124.2% during the second quarter. State Street Corp now owns 526,775 shares of the company’s stock worth $20,947,000 after buying an additional 291,815 shares during the period. Finally, Bamco Inc. NY lifted its position in Foundation Medicine by 3.4% during the second quarter. Bamco Inc. NY now owns 90,900 shares of the company’s stock worth $3,613,000 after buying an additional 3,000 shares during the period. Hedge funds and other institutional investors own 31.84% of the company’s stock.

About Foundation Medicine

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. It is engaged in the business of delivering molecular information about cancer to its customers. Its platform includes various methods and algorithms for analyzing specimens across various types of cancer.

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