Equities research analysts expect Foundation Medicine Inc (NASDAQ:FMI) to announce earnings of ($1.01) per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Foundation Medicine’s earnings. The lowest EPS estimate is ($1.15) and the highest is ($0.86). Foundation Medicine posted earnings of ($1.02) per share during the same quarter last year, which would indicate a positive year over year growth rate of 1%. The company is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, March 7th.
On average, analysts expect that Foundation Medicine will report full-year earnings of ($4.46) per share for the current fiscal year, with EPS estimates ranging from ($4.60) to ($4.31). For the next year, analysts forecast that the business will report earnings of ($3.79) per share, with EPS estimates ranging from ($4.30) to ($3.13). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Foundation Medicine.
Several analysts have issued reports on the stock. Cowen assumed coverage on shares of Foundation Medicine in a research report on Thursday, February 15th. They set an “outperform” rating and a $90.00 price target on the stock. BidaskClub lowered shares of Foundation Medicine from a “buy” rating to a “hold” rating in a research report on Saturday, February 10th. Zacks Investment Research raised shares of Foundation Medicine from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Finally, Goldman Sachs Group assumed coverage on shares of Foundation Medicine in a research report on Monday, January 29th. They set a “neutral” rating and a $73.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $59.80.
Shares of Foundation Medicine (NASDAQ:FMI) traded up $3.90 on Friday, reaching $77.65. 228,535 shares of the company traded hands, compared to its average volume of 258,388. Foundation Medicine has a fifty-two week low of $22.40 and a fifty-two week high of $78.59. The firm has a market capitalization of $2,820.00, a PE ratio of -17.37 and a beta of -0.03. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.24 and a quick ratio of 2.03.
In other news, insider Vincent A. Miller sold 20,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $61.17, for a total value of $1,223,400.00. Following the transaction, the insider now directly owns 99,984 shares of the company’s stock, valued at $6,116,021.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason Ryan sold 21,726 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $61.26, for a total transaction of $1,330,934.76. Following the completion of the transaction, the chief financial officer now directly owns 55,639 shares in the company, valued at $3,408,445.14. The disclosure for this sale can be found here. Insiders have sold 331,852 shares of company stock worth $22,073,081 over the last ninety days. Insiders own 2.70% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. MetLife Investment Advisors LLC bought a new position in shares of Foundation Medicine in the fourth quarter valued at about $488,000. Castleark Management LLC bought a new position in shares of Foundation Medicine in the fourth quarter valued at about $1,333,000. Financial Advocates Investment Management bought a new position in shares of Foundation Medicine in the fourth quarter valued at about $239,000. Millennium Management LLC bought a new position in shares of Foundation Medicine in the fourth quarter valued at about $1,777,000. Finally, Raymond James & Associates bought a new position in shares of Foundation Medicine in the fourth quarter valued at about $244,000. 30.86% of the stock is currently owned by 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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