-$1.07 EPS Expected for Foundation Medicine, Inc. (FMI) This Quarter
Wall Street brokerages expect that Foundation Medicine, Inc. (NASDAQ:FMI) will report ($1.07) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Foundation Medicine’s earnings, with the lowest EPS estimate coming in at ($1.20) and the highest estimate coming in at ($0.99). Foundation Medicine reported earnings per share of ($0.90) in the same quarter last year, which would indicate a negative year-over-year growth rate of 18.9%. The business is scheduled to announce its next earnings results on Wednesday, November 1st.
On average, analysts expect that Foundation Medicine will report full-year earnings of ($4.59) per share for the current financial year, with EPS estimates ranging from ($4.80) to ($4.41). For the next financial year, analysts anticipate that the business will post earnings of ($3.86) per share, with EPS estimates ranging from ($4.30) to ($3.28). Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Foundation Medicine.
Foundation Medicine (NASDAQ:FMI) last posted its quarterly earnings results on Tuesday, August 1st. The company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.08) by $0.16. The company had revenue of $35 million during the quarter, compared to analyst estimates of $34.94 million. Foundation Medicine had a negative net margin of 131.79% and a negative return on equity of 109.63%. The company’s revenue was up 23.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.84) earnings per share.
Several research firms have recently weighed in on FMI. BidaskClub raised Foundation Medicine from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 8th. ValuEngine raised Foundation Medicine from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Foundation Medicine from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BTIG Research raised Foundation Medicine from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Monday, May 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Foundation Medicine has a consensus rating of “Hold” and a consensus price target of $29.50.
Shares of Foundation Medicine (FMI) opened at 41.40 on Friday. The firm’s market capitalization is $1.49 billion. Foundation Medicine has a 12-month low of $17.10 and a 12-month high of $43.15. The company has a 50-day moving average of $38.10 and a 200 day moving average of $35.87.
In related news, Director Krishna Yeshwant sold 4,800 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $40.01, for a total value of $192,048.00. Following the completion of the transaction, the director now directly owns 5,786 shares of the company’s stock, valued at $231,497.86. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David Daly sold 46,872 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $39.50, for a total value of $1,851,444.00. Following the completion of the transaction, the insider now directly owns 163,133 shares of the company’s stock, valued at $6,443,753.50. The disclosure for this sale can be found here. Insiders sold 182,552 shares of company stock valued at $7,123,185 over the last three months. 2.70% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Fiduciary Trust Co. bought a new position in Foundation Medicine in the second quarter worth $119,000. Legal & General Group Plc lifted its position in Foundation Medicine by 8.6% in the second quarter. Legal & General Group Plc now owns 3,442 shares of the company’s stock worth $138,000 after purchasing an additional 274 shares during the period. Bank of America Corp DE lifted its position in Foundation Medicine by 65.8% in the first quarter. Bank of America Corp DE now owns 6,180 shares of the company’s stock worth $200,000 after purchasing an additional 2,452 shares during the period. Creative Planning lifted its position in Foundation Medicine by 15.3% in the second quarter. Creative Planning now owns 5,075 shares of the company’s stock worth $202,000 after purchasing an additional 675 shares during the period. Finally, State Board of Administration of Florida Retirement System bought a new position in Foundation Medicine in the first quarter worth $218,000. 31.84% of the stock is owned by hedge funds and other institutional investors.
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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