Foundation Medicine, Inc. (FMI) Issues Quarterly Earnings Results, Beats Estimates By $0.16 EPS
Foundation Medicine, Inc. (NASDAQ:FMI) announced its earnings results on Tuesday. The company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.16, Bloomberg Earnings reports. Foundation Medicine had a negative net margin of 131.79% and a negative return on equity of 109.63%. The company had revenue of $42.66 million during the quarter, compared to analyst estimates of $37.99 million. During the same period in the previous year, the business earned ($0.90) earnings per share. The firm’s quarterly revenue was up 45.0% compared to the same quarter last year.
Several research firms have weighed in on FMI. BidaskClub downgraded shares of Foundation Medicine from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Zacks Investment Research raised shares of Foundation Medicine from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $35.00.
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In related news, SVP Robert W. Hesslein sold 2,165 shares of Foundation Medicine stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $38.80, for a total transaction of $84,002.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason Ryan sold 1,152 shares of Foundation Medicine stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $45.05, for a total transaction of $51,897.60. The disclosure for this sale can be found here. Insiders have sold a total of 120,070 shares of company stock valued at $4,710,455 in the last quarter. 2.70% of the stock is currently owned by company insiders.
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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