Foundation Medicine Inc (NASDAQ:FMI) shares reached a new 52-week high on Tuesday . The stock traded as high as $137.20 and last traded at $136.50, with a volume of 311648 shares. The stock had previously closed at $136.45.
A number of research analysts have recently commented on the company. William Blair downgraded Foundation Medicine from an “outperform” rating to a “market perform” rating in a research report on Tuesday. BidaskClub upgraded Foundation Medicine from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 31st. ValuEngine upgraded Foundation Medicine from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Finally, Wells Fargo & Co reiterated a “market perform” rating and set a $80.00 target price (up from $67.00) on shares of Foundation Medicine in a research report on Thursday, March 8th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $77.25.
The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 4.76. The stock has a market cap of $3.78 billion, a P/E ratio of -30.38 and a beta of -0.04.
Foundation Medicine (NASDAQ:FMI) last posted its earnings results on Wednesday, May 2nd. The company reported ($1.02) EPS for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.08. The firm had revenue of $52.84 million during the quarter, compared to the consensus estimate of $44.99 million. Foundation Medicine had a negative return on equity of 299.63% and a negative net margin of 84.96%. The company’s quarterly revenue was up 100.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.31) EPS. equities analysts expect that Foundation Medicine Inc will post -4.32 EPS for the current year.
In related news, Director Michael J. Pellini sold 3,500 shares of the firm’s stock in a transaction on Friday, June 15th. The stock was sold at an average price of $105.45, for a total value of $369,075.00. Following the completion of the sale, the director now directly owns 103,711 shares in the company, valued at $10,936,324.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jason Ryan sold 6,139 shares of the firm’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $76.23, for a total value of $467,975.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,453 shares of company stock valued at $4,110,461. 3.00% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its stake in Foundation Medicine by 10.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 69,504 shares of the company’s stock worth $4,741,000 after purchasing an additional 6,474 shares during the period. Teacher Retirement System of Texas purchased a new stake in Foundation Medicine in the fourth quarter worth $336,000. California Public Employees Retirement System purchased a new stake in Foundation Medicine in the fourth quarter worth $608,000. First Trust Advisors LP purchased a new stake in Foundation Medicine in the fourth quarter worth $1,939,000. Finally, Wells Fargo & Company MN increased its stake in Foundation Medicine by 31.2% in the fourth quarter. Wells Fargo & Company MN now owns 22,327 shares of the company’s stock worth $1,523,000 after purchasing an additional 5,310 shares during the period. Institutional investors own 33.41% of the company’s stock.
About Foundation Medicine
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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