Insider Selling: Foundation Medicine Inc. (FMI) Insider Sells 2,045 Shares of Stock
Foundation Medicine Inc. (NASDAQ:FMI) insider David Daly sold 2,045 shares of the business’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $23.65, for a total value of $48,364.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Foundation Medicine Inc. (NASDAQ:FMI) opened at 23.77 on Thursday. Foundation Medicine Inc. has a 12-month low of $13.34 and a 12-month high of $25.31. The company has a 50-day moving average price of $22.60 and a 200-day moving average price of $20.28. The stock’s market capitalization is $830.21 million.
Foundation Medicine (NASDAQ:FMI) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by $0.05. Foundation Medicine had a negative return on equity of 34.56% and a negative net margin of 78.06%. The firm earned $28.24 million during the quarter, compared to analysts’ expectations of $26.72 million. During the same quarter in the previous year, the business earned ($0.98) earnings per share. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. Analysts expect that Foundation Medicine Inc. will post ($3.12) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. boosted its position in shares of Foundation Medicine by 59.5% in the second quarter. Oppenheimer & Co. Inc. now owns 673,921 shares of the company’s stock valued at $12,576,000 after buying an additional 251,370 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Foundation Medicine by 25.9% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 918,058 shares of the company’s stock valued at $21,437,000 after buying an additional 188,748 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Foundation Medicine by 210.2% in the second quarter. Lord Abbett & CO. LLC now owns 210,912 shares of the company’s stock valued at $3,935,000 after buying an additional 142,918 shares during the last quarter. Murphy Michael R boosted its position in shares of Foundation Medicine by 9.3% in the first quarter. Murphy Michael R now owns 1,558,392 shares of the company’s stock valued at $28,332,000 after buying an additional 132,029 shares during the last quarter. Finally, Advisor Group Inc. purchased a new position in shares of Foundation Medicine during the second quarter valued at about $733,000. Hedge funds and other institutional investors own 30.97% of the company’s stock.
A number of brokerages recently issued reports on FMI. Zacks Investment Research upgraded Foundation Medicine from a “sell” rating to a “hold” rating in a research note on Tuesday. Janney Montgomery Scott downgraded Foundation Medicine from a “neutral” rating to a “sell” rating and set a $15.00 price objective for the company. in a research note on Wednesday, August 3rd. BTIG Research reiterated a “hold” rating on shares of Foundation Medicine in a research note on Thursday, August 4th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and set a $25.00 price objective on shares of Foundation Medicine in a research note on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Foundation Medicine presently has an average rating of “Hold” and a consensus price target of $20.00.
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. The Company’s segment is the business of delivering molecular information about cancer to its customers. Its products provide genomic information about each patient’s individual cancer, enabling physicians to optimize treatments in clinical practice and biopharmaceutical companies to develop targeted oncology therapies.
Receive News & Stock Ratings for Foundation Medicine Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foundation Medicine Inc. and related stocks with our FREE daily email newsletter.