BidaskClub downgraded shares of Foundation Medicine (NASDAQ:FMI) from a buy rating to a hold rating in a report issued on Wednesday.

Separately, Zacks Investment Research cut Foundation Medicine from a buy rating to a hold rating in a report on Tuesday, November 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Foundation Medicine currently has a consensus rating of Buy and a consensus target price of $45.33.

Shares of Foundation Medicine (FMI) opened at $66.10 on Wednesday. The stock has a market capitalization of $2,530.00, a P/E ratio of -14.79 and a beta of -0.01. Foundation Medicine has a twelve month low of $17.10 and a twelve month high of $70.75. 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 (NASDAQ:FMI) last issued its quarterly earnings data on Wednesday, November 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.06) by $0.16. The business had revenue of $42.66 million for the quarter, compared to analysts’ expectations of $37.99 million. Foundation Medicine had a negative return on equity of 143.18% and a negative net margin of 119.69%. The company’s revenue for the quarter was up 45.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.90) EPS. equities research analysts predict that Foundation Medicine will post -4.44 earnings per share for the current fiscal year.

In other Foundation Medicine news, CFO Jason Ryan sold 3,154 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $38.80, for a total value of $122,375.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Vincent A. Miller sold 2,944 shares of the company’s 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 disclosure for this sale can be found here. Insiders have sold a total of 85,457 shares of company stock worth $4,675,638 in the last 90 days. 2.70% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Chevy Chase Trust Holdings Inc. grew its position in 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 valued at $42,572,000 after acquiring an additional 11,934 shares during the last quarter. Discovery Group I LLC grew its position in Foundation Medicine by 0.9% in the 3rd quarter. Discovery Group I LLC now owns 836,986 shares of the company’s stock valued at $33,647,000 after acquiring an additional 7,181 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in Foundation Medicine by 5.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 723,480 shares of the company’s stock valued at $29,084,000 after acquiring an additional 39,390 shares during the last quarter. Vanguard Group Inc. grew its position in Foundation Medicine by 8.2% in the 2nd quarter. Vanguard Group Inc. now owns 631,339 shares of the company’s stock valued at $25,096,000 after acquiring an additional 47,843 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its position 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 acquiring an additional 343,770 shares during the last quarter. 32.68% of the stock is currently owned by institutional investors.

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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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