Pier Capital LLC cut its holdings in Foundation Medicine Inc (NASDAQ:FMI) by 48.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,952 shares of the company’s stock after selling 68,610 shares during the period. Pier Capital LLC owned approximately 0.20% of Foundation Medicine worth $4,907,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of FMI. Boston Advisors LLC bought a new stake in Foundation Medicine in the fourth quarter worth $13,000,000. Advisory Research Inc. lifted its stake in Foundation Medicine by 172.2% in the fourth quarter. Advisory Research Inc. now owns 76,581 shares of the company’s stock worth $5,223,000 after purchasing an additional 48,450 shares during the last quarter. Bain Capital Public Equity Management LLC bought a new stake in Foundation Medicine in the fourth quarter worth $3,093,000. Oppenheimer & Co. Inc. raised its stake in shares of Foundation Medicine by 5.8% during the third 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. Finally, Two Sigma Investments LP bought a new position in shares of Foundation Medicine during the fourth quarter valued at about $2,443,000. 29.23% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Jason Ryan sold 2,336 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $64.00, for a total transaction of $149,504.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vincent A. Miller sold 2,349 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $64.00, for a total transaction of $150,336.00. Following the transaction, the insider now owns 99,484 shares in the company, valued at approximately $6,366,976. The disclosure for this sale can be found here. Insiders have sold 294,952 shares of company stock worth $20,147,318 in the last quarter. 2.70% of the stock is owned by corporate insiders.
FMI stock opened at $79.85 on Wednesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.67 and a current ratio of 1.86. Foundation Medicine Inc has a one year low of $29.90 and a one year high of $87.10.
Foundation Medicine (NASDAQ:FMI) last issued its quarterly earnings data on Wednesday, March 7th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.97) by ($0.08). Foundation Medicine had a negative net margin of 105.60% and a negative return on equity of 207.73%. The firm had revenue of $48.90 million for the quarter, compared to the consensus estimate of $48.69 million. During the same period last year, the company posted ($1.02) earnings per share. The business’s revenue was up 69.8% on a year-over-year basis. analysts expect that Foundation Medicine Inc will post -4.22 earnings per share for the current fiscal year.
Several equities analysts have recently commented on FMI shares. Zacks Investment Research raised shares of Foundation Medicine from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Wednesday, December 6th. Cowen started coverage on shares of Foundation Medicine in a research note on Thursday, February 15th. They set an “outperform” rating and a $90.00 price objective for the company. Goldman Sachs started coverage on shares of Foundation Medicine in a research note on Monday, January 29th. They set a “neutral” rating and a $73.00 price objective for the company. Finally, BidaskClub raised shares of Foundation Medicine from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $69.60.
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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