Wall Street analysts predict that Foundation Medicine, Inc. (NASDAQ:FMI) will report sales of $38.57 million for the current quarter, according to Zacks. Four analysts have made estimates for Foundation Medicine’s earnings. The lowest sales estimate is $36.60 million and the highest is $41.00 million. Foundation Medicine reported sales of $28.82 million during the same quarter last year, which indicates a positive year-over-year growth rate of 33.8%. The firm is expected to report its next quarterly earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Foundation Medicine will report full-year sales of $38.57 million for the current fiscal year, with estimates ranging from $140.60 million to $145.00 million. For the next year, analysts forecast that the firm will post sales of $183.62 million per share, with estimates ranging from $171.00 million to $201.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Foundation Medicine.
Foundation Medicine (NASDAQ:FMI) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.90) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.06) by $0.16. The company had revenue of $42.66 million during the quarter, compared to analyst estimates of $37.99 million. Foundation Medicine had a negative net margin of 119.69% and a negative return on equity of 143.18%. The firm’s revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period last year, the business earned ($0.90) EPS.
Several research analysts have weighed in on the stock. BidaskClub raised shares of Foundation Medicine from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 8th. Zacks Investment Research lowered shares of Foundation Medicine from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $43.00.
Shares of Foundation Medicine (NASDAQ:FMI) traded down $0.65 during mid-day trading on Friday, reaching $49.40. 73,995 shares of the company’s stock traded hands, compared to its average volume of 183,165. The company has a quick ratio of 2.03, a current ratio of 2.24 and a debt-to-equity ratio of 0.47. Foundation Medicine has a 52 week low of $17.10 and a 52 week high of $55.95.
In other news, CFO Jason Ryan sold 9,731 shares of Foundation Medicine stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $50.00, for a total value of $486,550.00. Following the completion of the transaction, the chief financial officer now directly owns 52,601 shares of the company’s stock, valued at approximately $2,630,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert W. Hesslein sold 2,165 shares of Foundation Medicine stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $38.80, for a total transaction of $84,002.00. The disclosure for this sale can be found here. Insiders sold a total of 30,057 shares of company stock valued at $1,301,960 over the last ninety days. Company insiders own 2.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Chevy Chase Trust Holdings Inc. boosted its stake in Foundation Medicine by 1.1% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 1,059,141 shares of the company’s stock valued at $42,572,000 after purchasing an additional 11,934 shares during the period. Discovery Group I LLC boosted its stake in Foundation Medicine by 0.9% during the 3rd quarter. Discovery Group I LLC now owns 836,986 shares of the company’s stock valued at $33,647,000 after purchasing an additional 7,181 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Foundation Medicine by 4.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 63,030 shares of the company’s stock valued at $2,534,000 after purchasing an additional 2,803 shares during the period. Wells Fargo & Company MN boosted its stake in Foundation Medicine by 47.8% during the 3rd quarter. Wells Fargo & Company MN now owns 17,017 shares of the company’s stock valued at $684,000 after purchasing an additional 5,507 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its stake in Foundation Medicine by 5.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 723,480 shares of the company’s stock valued at $29,084,000 after purchasing an additional 39,390 shares during the period. 33.04% of the stock is owned by hedge funds and other institutional investors.
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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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