Equities research analysts forecast that Foundation Medicine (NASDAQ:FMI) will post earnings per share (EPS) of ($1.11) for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Foundation Medicine’s earnings, with estimates ranging from ($1.13) to ($1.08). Foundation Medicine posted earnings per share of ($1.24) in the same quarter last year, which would suggest a positive year over year growth rate of 10.5%. The company is expected to report its next earnings results on Tuesday, August 7th.
According to Zacks, analysts expect that Foundation Medicine will report full year earnings of ($4.33) per share for the current fiscal year, with EPS estimates ranging from ($4.41) to ($4.27). For the next year, analysts anticipate that the business will post earnings of ($2.77) per share, with EPS estimates ranging from ($3.87) to ($1.54). Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Foundation Medicine.
Foundation Medicine (NASDAQ:FMI) last issued its earnings results on Wednesday, May 2nd. The company reported ($1.02) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.08. Foundation Medicine had a negative return on equity of 299.63% and a negative net margin of 84.96%. The business had revenue of $52.84 million for the quarter, compared to analyst estimates of $44.99 million. During the same quarter last year, the company earned ($1.31) EPS. The business’s quarterly revenue was up 100.7% on a year-over-year basis.
FMI has been the topic of several research analyst reports. BidaskClub raised Foundation Medicine from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Goldman Sachs initiated coverage on Foundation Medicine in a research report on Monday, January 29th. They set a “neutral” rating and a $73.00 target price on the stock. Zacks Investment Research lowered Foundation Medicine from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. 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. Finally, Wells Fargo reissued 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. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $77.25.
Shares of Foundation Medicine traded up $5.90, hitting $87.00, during midday trading on Monday, according to MarketBeat.com. 339,843 shares of the company’s stock were exchanged, compared to its average volume of 304,267. The company has a debt-to-equity ratio of 4.76, a quick ratio of 1.98 and a current ratio of 2.27. Foundation Medicine has a twelve month low of $31.70 and a twelve month high of $87.80. The firm has a market capitalization of $3.00 billion, a PE ratio of -19.33 and a beta of -0.12.
In other Foundation Medicine news, Director Michael J. Pellini sold 13,659 shares of Foundation Medicine stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $70.28, for a total transaction of $959,954.52. Following the transaction, the director now owns 114,211 shares of the company’s stock, valued at $8,026,749.08. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Troy Cox sold 2,157 shares of Foundation Medicine stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $77.10, for a total value of $166,304.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,891 shares of company stock worth $7,516,306. 3.00% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FMI. Principal Financial Group Inc. increased its holdings in shares of Foundation Medicine by 9.9% in the first quarter. Principal Financial Group Inc. now owns 6,474 shares of the company’s stock valued at $510,000 after purchasing an additional 583 shares during the period. Whittier Trust Co. increased its holdings in shares of Foundation Medicine by 1.6% in the fourth quarter. Whittier Trust Co. now owns 44,685 shares of the company’s stock valued at $3,048,000 after purchasing an additional 725 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Foundation Medicine by 8.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,378 shares of the company’s stock valued at $708,000 after purchasing an additional 800 shares during the period. US Bancorp DE increased its holdings in shares of Foundation Medicine by 239.8% in the first quarter. US Bancorp DE now owns 1,359 shares of the company’s stock valued at $107,000 after purchasing an additional 959 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Foundation Medicine by 2.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 38,196 shares of the company’s stock valued at $2,605,000 after purchasing an additional 1,019 shares during the period. 32.86% of the stock is currently owned by institutional investors.
Foundation Medicine Company Profile
Foundation Medicine, Inc provides various molecular information products in the United States. The company's molecular information platform includes proprietary methods and algorithms to analyze specimens across various types of cancer, as well as for incorporating that information into clinical care; and offers genomic insights about each patient's individual cancer, enabling physicians to optimize treatments in clinical practice and biopharmaceutical companies to develop targeted therapies and immunotherapies.
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