Foundation Medicine, Inc. (FMI) to Release Quarterly Earnings on Tuesday
Foundation Medicine, Inc. (NASDAQ:FMI) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, October 31st. Analysts expect the company to announce earnings of ($1.06) per share for the quarter.
Foundation Medicine (NASDAQ:FMI) last released its quarterly earnings data on Tuesday, August 1st. The company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.08) by ($0.16). Foundation Medicine had a negative net margin of 131.79% and a negative return on equity of 109.63%. The company had revenue of $35.00 million for the quarter, compared to the consensus estimate of $34.94 million. During the same quarter in the previous year, the firm posted ($0.84) earnings per share. The business’s revenue for the quarter was up 23.9% compared to the same quarter last year. On average, analysts expect Foundation Medicine to post $-4.59 EPS for the current fiscal year and $-3.86 EPS for the next fiscal year.
Shares of Foundation Medicine, Inc. (NASDAQ:FMI) opened at 40.70 on Tuesday. Foundation Medicine, Inc. has a 1-year low of $17.10 and a 1-year high of $47.35. The company’s 50 day moving average price is $41.33 and its 200-day moving average price is $38.42. The company’s market capitalization is $1.47 billion.
In other Foundation Medicine news, Director Krishna Yeshwant sold 18,072 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $36.85, for a total transaction of $665,953.20. Following the sale, the director now directly owns 5,786 shares of the company’s stock, valued at $213,214.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Daly sold 46,872 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 163,133 shares in the company, valued at $6,443,753.50. The disclosure for this sale can be found here. Insiders sold 120,070 shares of company stock worth $4,710,455 over the last ninety days. Insiders own 2.70% of the company’s stock.
Several equities research analysts have recently issued reports on FMI shares. BidaskClub cut Foundation Medicine from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research raised Foundation Medicine from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $35.00.
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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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