Chevy Chase Trust Holdings Inc. Has $42.57 Million Position in Foundation Medicine Inc (FMI)
Chevy Chase Trust Holdings Inc. lifted its holdings in Foundation Medicine Inc (NASDAQ:FMI) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,059,141 shares of the company’s stock after buying an additional 11,934 shares during the quarter. Chevy Chase Trust Holdings Inc. owned 2.92% of Foundation Medicine worth $42,572,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. Fiduciary Trust Co. acquired a new position in Foundation Medicine during the second quarter worth $119,000. Legal & General Group Plc raised its holdings in Foundation Medicine by 8.6% during the second quarter. Legal & General Group Plc now owns 3,442 shares of the company’s stock worth $138,000 after purchasing an additional 274 shares during the last quarter. Bank of America Corp DE raised its holdings in Foundation Medicine by 65.8% during the first quarter. Bank of America Corp DE now owns 6,180 shares of the company’s stock worth $200,000 after purchasing an additional 2,452 shares during the last quarter. SG Americas Securities LLC raised its holdings in Foundation Medicine by 36.6% during the third quarter. SG Americas Securities LLC now owns 6,481 shares of the company’s stock worth $261,000 after purchasing an additional 1,736 shares during the last quarter. Finally, Voya Investment Management LLC acquired a new position in Foundation Medicine during the second quarter worth $262,000. Hedge funds and other institutional investors own 33.44% of the company’s stock.
FMI has been the subject of several research reports. Zacks Investment Research raised Foundation Medicine from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Monday, November 6th. BidaskClub raised Foundation Medicine from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $45.33.
In other news, CFO Jason Ryan sold 21,726 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $61.26, for a total value of $1,330,934.76. Following the completion of the transaction, the chief financial officer now directly owns 55,639 shares of the company’s stock, valued at $3,408,445.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Evan/ Fa Jones sold 6,500 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $60.66, for a total value of $394,290.00. Following the completion of the transaction, the director now owns 19,652 shares of the company’s stock, valued at $1,192,090.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,057 shares of company stock valued at $4,588,768. Insiders own 2.70% of the company’s stock.
Foundation Medicine Inc (NASDAQ FMI) opened at $67.10 on Friday. Foundation Medicine Inc has a 1-year low of $17.10 and a 1-year high of $70.75. The company has a current ratio of 2.24, a quick ratio of 2.03 and a debt-to-equity ratio of 0.47.
Foundation Medicine (NASDAQ:FMI) last released its quarterly earnings results on Wednesday, November 1st. The company reported ($0.90) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.06) by $0.16. Foundation Medicine had a negative return on equity of 143.18% and a negative net margin of 119.69%. The company had revenue of $42.66 million during the quarter, compared to analysts’ expectations of $37.99 million. During the same period in the previous year, the firm posted ($0.90) earnings per share. The business’s revenue for the quarter was up 45.0% compared to the same quarter last year. equities analysts anticipate that Foundation Medicine Inc will post -4.44 EPS for the current fiscal year.
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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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