Foundation Medicine, Inc. (FMI) Issues Quarterly Earnings Results
Foundation Medicine, Inc. (NASDAQ:FMI) released its quarterly earnings data on Tuesday. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.16, Bloomberg Earnings reports. Foundation Medicine had a negative return on equity of 109.63% and a negative net margin of 131.79%. The company had revenue of $42.66 million for the quarter, compared to analyst estimates of $37.99 million. During the same period last year, the company posted ($0.90) earnings per share. The firm’s revenue was up 45.0% compared to the same quarter last year.
FMI has been the topic of a number of analyst reports. BidaskClub lowered Foundation Medicine from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research raised Foundation Medicine from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $35.00.
In other Foundation Medicine news, CFO Jason Ryan sold 1,152 shares of the business’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert W. Hesslein sold 2,165 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was 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. In the last three months, insiders have sold 120,070 shares of company stock valued at $4,710,455. Company insiders own 2.70% of the company’s stock.
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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