Foundation Medicine Inc (NASDAQ:FMI) Director Michael J. Pellini sold 13,659 shares of the stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $70.28, for a total value of $959,954.52. Following the sale, the director now directly owns 114,211 shares in the company, valued at approximately $8,026,749.08. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of NASDAQ FMI opened at $71.50 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.67 and a debt-to-equity ratio of 1.90. The firm has a market cap of $2,731.10, a price-to-earnings ratio of -15.89 and a beta of -0.13. Foundation Medicine Inc has a 12-month low of $30.10 and a 12-month high of $87.10.
Foundation Medicine (NASDAQ:FMI) last announced its earnings results on Wednesday, March 7th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.08). The company had revenue of $48.90 million for the quarter, compared to the consensus estimate of $48.69 million. Foundation Medicine had a negative net margin of 105.60% and a negative return on equity of 207.73%. The firm’s revenue was up 69.8% compared to the same quarter last year. During the same period last year, the business posted ($1.02) EPS. equities research analysts expect that Foundation Medicine Inc will post -4.22 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Chevy Chase Trust Holdings Inc. lifted its holdings in shares of Foundation Medicine by 0.9% during the 4th quarter. Chevy Chase Trust Holdings Inc. now owns 1,068,293 shares of the company’s stock valued at $72,825,000 after purchasing an additional 9,152 shares during the last quarter. Boston Advisors LLC purchased a new stake in shares of Foundation Medicine during the 4th quarter valued at $13,000,000. Geode Capital Management LLC lifted its holdings in shares of Foundation Medicine by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 161,420 shares of the company’s stock valued at $11,008,000 after purchasing an additional 18,289 shares during the last quarter. Advisory Research Inc. lifted its holdings in shares of Foundation Medicine by 172.2% during the 4th quarter. Advisory Research Inc. now owns 76,581 shares of the company’s stock valued at $5,223,000 after purchasing an additional 48,450 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Foundation Medicine by 10.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 69,504 shares of the company’s stock valued at $4,741,000 after purchasing an additional 6,474 shares during the last quarter. Hedge funds and other institutional investors own 31.17% of the company’s stock.
FMI has been the topic of several recent research reports. BidaskClub raised Foundation Medicine from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. ValuEngine raised Foundation Medicine from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Wells Fargo reaffirmed a “market perform” rating and set a $80.00 target price (up previously from $67.00) on shares of Foundation Medicine in a research report on Thursday, March 8th. Zacks Investment Research cut Foundation Medicine from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Finally, Cowen initiated coverage on Foundation Medicine in a research report on Thursday, February 15th. They set an “outperform” rating and a $90.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Foundation Medicine currently has an average rating of “Hold” and a consensus price target of $69.60.
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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. 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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