Research analysts at Goldman Sachs Group began coverage on shares of Foundation Medicine (NASDAQ:FMI) in a note issued to investors on Monday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $73.00 price target on the stock. Goldman Sachs Group’s price target would indicate a potential upside of 1.53% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Foundation Medicine from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. BidaskClub upgraded shares of Foundation Medicine from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.25.

Foundation Medicine (FMI) opened at $71.90 on Monday. The firm has a market cap of $2,600.00, a PE ratio of -16.09 and a beta of -0.01. Foundation Medicine has a 1-year low of $18.70 and a 1-year high of $75.20. 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 announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.90) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.06) by $0.16. The business had revenue of $42.66 million for the quarter, compared to analyst estimates of $37.99 million. Foundation Medicine had a negative net margin of 119.69% and a negative return on equity of 143.18%. The company’s revenue was up 45.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.90) EPS. research analysts anticipate that Foundation Medicine will post -4.44 earnings per share for the current year.

In related news, insider Vincent A. Miller sold 17,187 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $70.27, for a total value of $1,207,730.49. Following the transaction, the insider now owns 110,509 shares in the company, valued at $7,765,467.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jason Ryan sold 9,731 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $50.00, for a total transaction of $486,550.00. Following the completion of the transaction, the chief financial officer now owns 52,601 shares in the company, valued at approximately $2,630,050. The disclosure for this sale can be found here. Insiders sold 184,271 shares of company stock worth $11,653,281 in the last 90 days. 2.70% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of FMI. Schwab Charles Investment Management Inc. grew its position in Foundation Medicine by 9.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 60,227 shares of the company’s stock valued at $2,395,000 after acquiring an additional 5,404 shares in the last quarter. Bank of New York Mellon Corp grew its position in Foundation Medicine by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 61,597 shares of the company’s stock valued at $2,449,000 after acquiring an additional 835 shares in the last quarter. Legal & General Group Plc grew its position in Foundation Medicine by 8.6% in the second quarter. Legal & General Group Plc now owns 3,442 shares of the company’s stock valued at $138,000 after acquiring an additional 274 shares in the last quarter. Wells Fargo & Company MN grew its position in Foundation Medicine by 8.8% in the second quarter. Wells Fargo & Company MN now owns 11,510 shares of the company’s stock valued at $458,000 after acquiring an additional 931 shares in the last quarter. Finally, Teachers Advisors LLC grew its position in Foundation Medicine by 5.5% in the second quarter. Teachers Advisors LLC now owns 25,728 shares of the company’s stock valued at $1,023,000 after acquiring an additional 1,341 shares in the last quarter. 32.73% of the stock is owned by institutional investors.

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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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