BidaskClub downgraded shares of Foundation Medicine (NASDAQ:FMI) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.
FMI has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Foundation Medicine from a sell rating to a hold rating in a research report on Thursday, February 8th. Goldman Sachs Group initiated coverage on shares of Foundation Medicine in a research report on Monday, January 29th. They set a neutral rating and a $73.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Foundation Medicine presently has a consensus rating of Hold and an average price target of $52.25.
Foundation Medicine (NASDAQ:FMI) opened at $62.85 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.24 and a debt-to-equity ratio of 0.47. Foundation Medicine has a 12 month low of $22.40 and a 12 month high of $75.20. The stock has a market cap of $2,280.00, a price-to-earnings ratio of -14.06 and a beta of -0.03.
Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Foundation Medicine by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 161,420 shares of the company’s stock worth $11,008,000 after buying an additional 18,289 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of Foundation Medicine during the fourth quarter worth $241,000. Bank of New York Mellon Corp grew its holdings in shares of Foundation Medicine by 1.6% during the fourth quarter. Bank of New York Mellon Corp now owns 66,658 shares of the company’s stock worth $4,546,000 after buying an additional 1,081 shares in the last quarter. Advisory Research Inc. grew its holdings in shares of Foundation Medicine by 172.2% during the fourth quarter. Advisory Research Inc. now owns 76,581 shares of the company’s stock worth $5,223,000 after buying an additional 48,450 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Foundation Medicine by 31.2% during the fourth quarter. Wells Fargo & Company MN now owns 22,327 shares of the company’s stock worth $1,523,000 after buying an additional 5,310 shares in the last quarter. 33.12% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: “Foundation Medicine (FMI) Downgraded by BidaskClub to Hold” was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another site, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The correct version of this piece can be viewed at https://www.com-unik.info/2018/02/14/foundation-medicine-fmi-downgraded-by-bidaskclub-to-hold.html.
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.
Receive News & Ratings for Foundation Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foundation Medicine and related companies with MarketBeat.com's FREE daily email newsletter.