Foundation Medicine, Inc. (NASDAQ:FMI) announced its quarterly earnings data on Tuesday, August 1st. The company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($1.08) by $0.16, Briefing.com reports. Foundation Medicine had a negative return on equity of 109.63% and a negative net margin of 131.79%. The firm had revenue of $35 million during the quarter, compared to analysts’ expectations of $34.94 million. During the same period last year, the business posted ($0.84) EPS. The company’s revenue was up 23.9% compared to the same quarter last year.
Foundation Medicine (NASDAQ FMI) traded up 0.78% during mid-day trading on Friday, reaching $39.00. The company had a trading volume of 164,498 shares. Foundation Medicine has a 1-year low of $17.10 and a 1-year high of $43.15. The firm has a 50-day moving average of $38.56 and a 200 day moving average of $33.36. The company’s market capitalization is $1.40 billion.
In related news, CFO Jason Ryan sold 5,573 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $40.00, for a total value of $222,920.00. Following the completion of the sale, the chief financial officer now owns 78,405 shares in the company, valued at $3,136,200. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Krishna Yeshwant sold 4,800 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $40.01, for a total transaction of $192,048.00. Following the completion of the sale, the director now owns 5,786 shares of the company’s stock, valued at approximately $231,497.86. The disclosure for this sale can be found here. Insiders have sold 188,680 shares of company stock valued at $7,367,362 in the last quarter. Insiders own 2.70% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. GSA Capital Partners LLP increased its stake in shares of Foundation Medicine by 24.1% in the fourth quarter. GSA Capital Partners LLP now owns 11,500 shares of the company’s stock worth $204,000 after buying an additional 2,234 shares during the last quarter. EAM Investors LLC purchased a new stake in shares of Foundation Medicine during the first quarter worth approximately $732,000. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Foundation Medicine by 0.5% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 1,610,865 shares of the company’s stock worth $51,950,000 after buying an additional 7,347 shares during the last quarter. Teachers Advisors LLC increased its stake in Foundation Medicine by 12.4% in the fourth quarter. Teachers Advisors LLC now owns 23,071 shares of the company’s stock worth $408,000 after buying an additional 2,538 shares during the last quarter. Finally, Creative Planning increased its stake in Foundation Medicine by 10.0% in the first quarter. Creative Planning now owns 4,400 shares of the company’s stock worth $142,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 30.91% of the company’s stock.
Several equities research analysts recently weighed in on the company. BidaskClub raised Foundation Medicine from a “strong sell” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research upgraded Foundation Medicine from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. ValuEngine upgraded Foundation Medicine from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BTIG Research upgraded Foundation Medicine from a “neutral” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Monday, May 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $29.50.
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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