Foundation Medicine, Inc. (FMI) Holdings Boosted by Baillie Gifford & Co.
Baillie Gifford & Co. raised its position in Foundation Medicine, Inc. (NASDAQ:FMI) by 3.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 255,790 shares of the company’s stock after buying an additional 7,490 shares during the quarter. Baillie Gifford & Co. owned about 0.71% of Foundation Medicine worth $10,283,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Peregrine Capital Management LLC bought a new position in Foundation Medicine in the 3rd quarter valued at about $13,299,000. Lord Abbett & CO. LLC increased its holdings in Foundation Medicine by 146.0% in the 2nd quarter. Lord Abbett & CO. LLC now owns 579,225 shares of the company’s stock valued at $23,024,000 after buying an additional 343,770 shares during the period. Adalta Capital Management LLC increased its holdings in Foundation Medicine by 4.6% in the 2nd quarter. Adalta Capital Management LLC now owns 131,480 shares of the company’s stock valued at $5,227,000 after buying an additional 5,725 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Foundation Medicine by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,747 shares of the company’s stock valued at $467,000 after buying an additional 341 shares during the period. Finally, State Street Corp increased its holdings in Foundation Medicine by 124.2% in the 2nd quarter. State Street Corp now owns 526,775 shares of the company’s stock valued at $20,947,000 after buying an additional 291,815 shares during the period. 31.85% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Vincent A. Miller sold 2,944 shares of Foundation Medicine stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $38.80, for a total value of $114,227.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Daly sold 46,872 shares of Foundation Medicine stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $39.50, for a total transaction of $1,851,444.00. Following the completion of the sale, the insider now directly owns 163,133 shares of the company’s stock, valued at approximately $6,443,753.50. The disclosure for this sale can be found here. Insiders have sold a total of 101,998 shares of company stock valued at $4,044,502 in the last three months. Company insiders own 2.70% of the company’s stock.
FMI has been the topic of several recent analyst reports. BidaskClub raised shares of Foundation Medicine from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. Zacks Investment Research raised shares of Foundation Medicine from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $35.00.
Shares of Foundation Medicine, Inc. (NASDAQ FMI) opened at $52.25 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.99 and a debt-to-equity ratio of 0.47.
Foundation Medicine (NASDAQ:FMI) last issued its earnings results on Wednesday, November 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.16. The company had revenue of $42.66 million during 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 for the quarter was up 45.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.90) EPS. equities research analysts forecast that Foundation Medicine, Inc. will post -4.59 earnings per share for the current year.
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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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