Pioneer Investment Management Inc. raised its position in Foundation Medicine, Inc. (NASDAQ:FMI) by 13.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 369,957 shares of the company’s stock after buying an additional 44,315 shares during the period. Pioneer Investment Management Inc.’s holdings in Foundation Medicine were worth $14,706,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. State Street Corp boosted its position in shares of Foundation Medicine by 6.2% in the fourth quarter. State Street Corp now owns 221,817 shares of the company’s stock worth $3,926,000 after buying an additional 12,872 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of 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 during the last quarter. Teachers Advisors LLC boosted its position in shares of Foundation Medicine by 12.4% in the fourth quarter. Teachers Advisors LLC now owns 23,071 shares of the company’s stock worth $408,000 after buying an additional 2,538 shares during the last quarter. Creative Planning boosted its position in shares of 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 during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Foundation Medicine by 24.4% in the first quarter. Russell Investments Group Ltd. now owns 37,062 shares of the company’s stock worth $1,195,000 after buying an additional 7,261 shares during the last quarter. Institutional investors own 30.91% of the company’s stock.

Foundation Medicine, Inc. (NASDAQ:FMI) opened at 39.00 on Friday. The stock’s market cap is $1.40 billion. Foundation Medicine, Inc. has a 52-week low of $17.10 and a 52-week high of $43.15. The firm has a 50 day moving average of $38.47 and a 200-day moving average of $33.50.

Foundation Medicine (NASDAQ:FMI) last released its earnings results on Tuesday, August 1st. The company reported ($1.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.08) by $0.16. The firm had revenue of $35 million during the quarter, compared to the consensus estimate of $34.94 million. Foundation Medicine had a negative return on equity of 109.63% and a negative net margin of 131.79%. Foundation Medicine’s revenue was up 23.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.84) EPS. Equities analysts anticipate that Foundation Medicine, Inc. will post ($4.64) earnings per share for the current fiscal year.

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FMI has been the topic of a number of analyst reports. BTIG Research upgraded shares of Foundation Medicine from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Monday, May 15th. ValuEngine upgraded shares of Foundation Medicine from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded shares of Foundation Medicine from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub cut shares of Foundation Medicine from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Foundation Medicine has an average rating of “Hold” and a consensus target price of $29.50.

In related news, Director Krishna Yeshwant sold 4,800 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $40.01, for a total value of $192,048.00. Following the transaction, the director now owns 5,786 shares of the company’s stock, valued at approximately $231,497.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David Daly sold 6,316 shares of the firm’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $38.84, for a total transaction of $245,313.44. The disclosure for this sale can be found here. Insiders sold a total of 188,680 shares of company stock valued at $7,367,362 in the last 90 days. 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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Institutional Ownership by Quarter for Foundation Medicine (NASDAQ:FMI)

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