Foundation Medicine Inc (FMI) Position Trimmed by Adalta Capital Management LLC
Adalta Capital Management LLC lowered its holdings in shares of Foundation Medicine Inc (NASDAQ:FMI) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,170 shares of the company’s stock after selling 1,310 shares during the period. Foundation Medicine accounts for 4.3% of Adalta Capital Management LLC’s investment portfolio, making the stock its 3rd largest holding. Adalta Capital Management LLC owned 0.36% of Foundation Medicine worth $5,233,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of FMI. Chevy Chase Trust Holdings Inc. lifted its stake in shares of Foundation Medicine by 1.1% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 1,059,141 shares of the company’s stock worth $42,572,000 after acquiring an additional 11,934 shares during the period. Discovery Group I LLC lifted its stake in shares of Foundation Medicine by 0.9% in the 3rd quarter. Discovery Group I LLC now owns 836,986 shares of the company’s stock worth $33,647,000 after acquiring an additional 7,181 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Foundation Medicine by 4.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 63,030 shares of the company’s stock worth $2,534,000 after acquiring an additional 2,803 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Foundation Medicine by 47.8% in the 3rd quarter. Wells Fargo & Company MN now owns 17,017 shares of the company’s stock worth $684,000 after acquiring an additional 5,507 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Foundation Medicine by 5.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 723,480 shares of the company’s stock worth $29,084,000 after acquiring an additional 39,390 shares during the period. Hedge funds and other institutional investors own 33.44% of the company’s stock.
Shares of Foundation Medicine Inc (FMI) opened at $59.40 on Friday. 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 Inc has a 52 week low of $17.10 and a 52 week high of $70.75.
Foundation Medicine (NASDAQ:FMI) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.90) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.06) by $0.16. Foundation Medicine had a negative net margin of 119.69% and a negative return on equity of 143.18%. The firm had revenue of $42.66 million during the quarter, compared to analysts’ expectations of $37.99 million. During the same quarter last year, the business earned ($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 forecast that Foundation Medicine Inc will post -4.44 EPS for the current fiscal year.
In other Foundation Medicine news, CFO Jason Ryan sold 1,152 shares of the firm’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $45.05, for a total transaction of $51,897.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert W. Hesslein sold 2,165 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $38.80, for a total transaction of $84,002.00. The disclosure for this sale can be found here. Insiders sold 84,057 shares of company stock valued at $4,588,768 in the last quarter. Company insiders own 2.70% of the company’s stock.
Several analysts recently commented on FMI shares. BidaskClub upgraded shares of Foundation Medicine from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research cut shares of Foundation Medicine from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Foundation Medicine currently has an average rating of “Buy” and an average target price of $45.33.
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Foundation Medicine 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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