Whittier Trust Co. Has $743,000 Position in Foundation Medicine Inc. (FMI)
Whittier Trust Co. boosted its position in shares of Foundation Medicine Inc. (NASDAQ:FMI) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 39,835 shares of the company’s stock after buying an additional 483 shares during the period. Whittier Trust Co.’s holdings in Foundation Medicine were worth $743,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of Foundation Medicine by 7,965.2% in the first quarter. Barclays PLC now owns 37,503 shares of the company’s stock worth $675,000 after buying an additional 37,038 shares during the last quarter. Murphy Michael R boosted its stake 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 worth $28,332,000 after buying an additional 132,029 shares during the last quarter. Strs Ohio boosted its stake in shares of Foundation Medicine by 262.5% in the second quarter. Strs Ohio now owns 14,500 shares of the company’s stock worth $270,000 after buying an additional 10,500 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Foundation Medicine by 7.8% in the first quarter. Bessemer Group Inc. now owns 7,250 shares of the company’s stock worth $132,000 after buying an additional 525 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Foundation Medicine by 2.0% in the first quarter. Geode Capital Management LLC now owns 99,571 shares of the company’s stock worth $1,810,000 after buying an additional 1,919 shares during the last quarter. Institutional investors own 30.97% of the company’s stock.
Shares of Foundation Medicine Inc. (NASDAQ:FMI) traded down 3.93% during trading on Tuesday, reaching $22.96. The company had a trading volume of 285,387 shares. The stock’s 50-day moving average price is $22.55 and its 200-day moving average price is $20.44. Foundation Medicine Inc. has a 52 week low of $13.34 and a 52 week high of $25.31. The company’s market capitalization is $801.92 million.
Foundation Medicine (NASDAQ:FMI) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.84) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.79) by $0.05. The company had revenue of $28.24 million for the quarter, compared to analysts’ expectations of $26.72 million. Foundation Medicine had a negative net margin of 78.06% and a negative return on equity of 34.56%. The business’s quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.98) EPS. On average, equities analysts expect that Foundation Medicine Inc. will post ($3.12) EPS for the current fiscal year.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised Foundation Medicine from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. BTIG Research reaffirmed a “hold” rating on shares of Foundation Medicine in a research note on Thursday, August 4th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Foundation Medicine in a research note on Wednesday, August 3rd. Finally, Janney Montgomery Scott lowered 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. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Foundation Medicine has an average rating of “Hold” and an average target price of $20.00.
In related news, SVP Robert W. Hesslein sold 1,220 shares of Foundation Medicine stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $23.65, for a total value of $28,853.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jason Ryan sold 13,863 shares of Foundation Medicine stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $23.92, for a total value of $331,602.96. Following the completion of the transaction, the chief financial officer now owns 61,148 shares of the company’s stock, valued at approximately $1,462,660.16. The disclosure for this sale can be found here. Company insiders own 2.20% 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. 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.
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