Foundation Medicine Inc (FMI) Position Maintained by Bronfman E.L. Rothschild L.P.
Bronfman E.L. Rothschild L.P. maintained its stake in Foundation Medicine Inc (NASDAQ:FMI) during the first quarter, according to its most recent disclosure with the SEC. The firm owned 4,010 shares of the company’s stock at the end of the first quarter. Bronfman E.L. Rothschild L.P.’s holdings in Foundation Medicine were worth $129,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in Foundation Medicine by 24.7% in the third quarter. Wells Fargo & Company MN now owns 5,360 shares of the company’s stock worth $125,000 after buying an additional 1,062 shares in the last quarter. Creative Planning raised its stake in Foundation Medicine by 10.0% in the first quarter. Creative Planning now owns 4,400 shares of the company’s stock worth $142,000 after buying an additional 400 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Foundation Medicine by 5.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,898 shares of the company’s stock worth $193,000 after buying an additional 583 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in Foundation Medicine by 0.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 11,492 shares of the company’s stock worth $203,000 after buying an additional 93 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in Foundation Medicine by 24.1% in the fourth quarter. GSA Capital Partners LLP now owns 11,500 shares of the company’s stock worth $204,000 after buying an additional 2,234 shares in the last quarter. 31.44% of the stock is currently owned by institutional investors.
Foundation Medicine Inc (NASDAQ:FMI) traded up 3.63% during midday trading on Thursday, hitting $37.15. The stock had a trading volume of 240,480 shares. The stock’s market capitalization is $1.32 billion. Foundation Medicine Inc has a 52 week low of $16.07 and a 52 week high of $37.20. The company’s 50 day moving average price is $33.46 and its 200-day moving average price is $25.70.
Foundation Medicine (NASDAQ:FMI) last announced its quarterly earnings data on Tuesday, May 9th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by $0.29. The business had revenue of $26.32 million during the quarter, compared to analyst estimates of $29.07 million. Foundation Medicine had a negative net margin of 84.67% and a negative return on equity of 42.21%. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.50) earnings per share. Equities analysts anticipate that Foundation Medicine Inc will post ($4.37) earnings per share for the current fiscal year.
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A number of research firms have recently commented on FMI. Janney Montgomery Scott raised Foundation Medicine from a “sell” rating to a “neutral” rating and set a $31.00 price target on the stock in a research report on Tuesday, March 7th. Zacks Investment Research raised Foundation Medicine from a “sell” rating to a “hold” rating in a research report on Friday, March 24th. BTIG Research raised Foundation Medicine from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Monday. Finally, William Blair reaffirmed a “buy” rating on shares of Foundation Medicine in a research report on Monday, April 3rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $30.25.
In related news, CFO Jason Ryan sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $31.68, for a total transaction of $396,000.00. Following the transaction, the chief financial officer now directly owns 56,230 shares of the company’s stock, valued at approximately $1,781,366.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Steven J. Kafka sold 2,157 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $31.96, for a total value of $68,937.72. The disclosure for this sale can be found here. Insiders sold a total of 70,799 shares of company stock worth $2,363,741 over the last three months. 2.20% of the stock is owned by company insiders.
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. 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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