BidaskClub downgraded shares of Foundation Medicine (NASDAQ:FMI) from a buy rating to a hold rating in a research report sent to investors on Wednesday, December 20th.
Separately, Zacks Investment Research cut Foundation Medicine from a buy rating to a hold rating in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $45.33.
Foundation Medicine (NASDAQ FMI) traded down $1.60 on Wednesday, hitting $67.10. The stock had a trading volume of 285,500 shares, compared to its average volume of 376,393. Foundation Medicine has a fifty-two week low of $17.50 and a fifty-two week high of $74.30. The company has a quick ratio of 2.03, a current ratio of 2.24 and a debt-to-equity ratio of 0.47. The company has a market cap of $2,430.00, a P/E ratio of -15.01 and a beta of -0.01.
Foundation Medicine (NASDAQ:FMI) last issued its quarterly earnings data on Wednesday, November 1st. The company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.16. Foundation Medicine had a negative return on equity of 143.18% and a negative net margin of 119.69%. The company had revenue of $42.66 million for the quarter, compared to the consensus estimate of $37.99 million. During the same quarter last year, the company earned ($0.90) earnings per share. The firm’s revenue for the quarter was up 45.0% compared to the same quarter last year. equities analysts forecast that Foundation Medicine will post -4.44 EPS for the current fiscal year.
In other news, Director Evan/ Fa Jones sold 1,400 shares of Foundation Medicine stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $62.05, for a total value of $86,870.00. Following the sale, the director now directly owns 17,652 shares of the company’s stock, valued at $1,095,306.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason Ryan sold 9,731 shares of Foundation Medicine stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $50.00, for a total value of $486,550.00. Following the completion of the sale, the chief financial officer now directly owns 52,601 shares in the company, valued at $2,630,050. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,837 shares of company stock worth $4,289,412. 2.70% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. Chevy Chase Trust Holdings Inc. raised its position in Foundation Medicine by 1.1% in the third 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 raised its position in Foundation Medicine by 0.9% in the third 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. raised its position in Foundation Medicine by 4.7% in the third 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 raised its holdings in shares of Foundation Medicine by 47.8% in the 3rd quarter. Wells Fargo & Company MN now owns 17,017 shares of the company’s stock valued at $684,000 after buying an additional 5,507 shares during the period. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Foundation Medicine by 5.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 723,480 shares of the company’s stock valued at $29,084,000 after buying an additional 39,390 shares during the period. Institutional investors own 32.68% of the company’s stock.
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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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