Foundation Medicine (FMI) Rating Lowered to Hold at BidaskClub
Foundation Medicine (NASDAQ:FMI) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
Separately, Zacks Investment Research downgraded Foundation Medicine from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $45.33.
Foundation Medicine (NASDAQ:FMI) traded down $2.70 on Tuesday, hitting $64.40. The stock had a trading volume of 518,500 shares, compared to its average volume of 381,797. The company has a market cap of $2,330.00, a P/E ratio of -14.41 and a beta of -0.01. Foundation Medicine has a 52 week low of $17.50 and a 52 week high of $74.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.03 and a current ratio of 2.24.
Foundation Medicine (NASDAQ:FMI) last released its quarterly earnings results on Wednesday, November 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.16. The company had revenue of $42.66 million during the quarter, compared to the consensus estimate of $37.99 million. Foundation Medicine had a negative return on equity of 143.18% and a negative net margin of 119.69%. The firm’s revenue was up 45.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.90) EPS. research analysts predict that Foundation Medicine will post -4.44 EPS for the current year.
In other news, Director Evan/ Fa Jones sold 6,500 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $60.66, for a total transaction of $394,290.00. Following the completion of the sale, the director now owns 19,652 shares in the company, valued at approximately $1,192,090.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Vincent A. Miller sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $61.17, for a total value of $1,223,400.00. Following the sale, the insider now owns 99,984 shares of the company’s stock, valued at approximately $6,116,021.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,837 shares of company stock valued at $4,289,412. 2.70% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Legal & General Group Plc boosted its stake in Foundation Medicine by 8.6% during the 2nd quarter. Legal & General Group Plc now owns 3,442 shares of the company’s stock valued at $138,000 after purchasing an additional 274 shares during the period. SG Americas Securities LLC boosted its stake in Foundation Medicine by 36.6% during the 3rd quarter. SG Americas Securities LLC now owns 6,481 shares of the company’s stock valued at $261,000 after purchasing an additional 1,736 shares during the period. Voya Investment Management LLC bought a new stake in Foundation Medicine during the 2nd quarter valued at approximately $262,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Foundation Medicine by 419.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,578 shares of the company’s stock valued at $385,000 after purchasing an additional 7,735 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Foundation Medicine by 215.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 9,786 shares of the company’s stock valued at $393,000 after purchasing an additional 6,686 shares during the period. Hedge funds and other institutional investors own 32.68% of the company’s stock.
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Foundation Medicine Company Profile
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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