Foundation Medicine, Inc. (FMI) COO Sells $124,198.80 in Stock
Foundation Medicine, Inc. (NASDAQ:FMI) COO Steven J. Kafka sold 3,201 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $38.80, for a total value of $124,198.80. The sale was disclosed in a filing with the SEC, which is available through this link.
Foundation Medicine, Inc. (NASDAQ FMI) opened at 46.90 on Friday. The company’s market cap is $1.69 billion. Foundation Medicine, Inc. has a 1-year low of $17.10 and a 1-year high of $47.25. The stock’s 50 day moving average price is $39.75 and its 200-day moving average price is $37.45.
Foundation Medicine (NASDAQ:FMI) last released its quarterly earnings results on Tuesday, August 1st. The company reported ($1.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.08) by ($0.16). The firm had revenue of $35.00 million for the quarter, compared to analysts’ expectations of $34.94 million. Foundation Medicine had a negative net margin of 131.79% and a negative return on equity of 109.63%. The firm’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.84) EPS. On average, analysts forecast that Foundation Medicine, Inc. will post ($4.67) earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the stock. Fiduciary Trust Co. acquired a new stake in Foundation Medicine in the 2nd quarter valued at approximately $119,000. Legal & General Group Plc increased its holdings in Foundation Medicine by 8.6% in 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 last quarter. Bank of America Corp DE increased its holdings in Foundation Medicine by 65.8% in the 1st quarter. Bank of America Corp DE now owns 6,180 shares of the company’s stock valued at $200,000 after purchasing an additional 2,452 shares during the last quarter. Creative Planning increased its holdings in Foundation Medicine by 15.3% in the 2nd quarter. Creative Planning now owns 5,075 shares of the company’s stock valued at $202,000 after purchasing an additional 675 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Foundation Medicine in the 1st quarter valued at approximately $218,000. Hedge funds and other institutional investors own 31.84% of the company’s stock.
A number of research analysts have recently commented on FMI shares. BidaskClub cut Foundation Medicine from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research cut Foundation Medicine from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $35.00.
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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