Foundation Medicine Inc (FMI) Given Consensus Rating of “Hold” by Brokerages

Shares of Foundation Medicine Inc (NASDAQ:FMI) have been assigned an average recommendation of “Hold” from the seven brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $47.67.

Several equities analysts have recently weighed in on FMI shares. BidaskClub raised shares of Foundation Medicine from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Zacks Investment Research raised shares of Foundation Medicine from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Monday, November 6th. Finally, Goldman Sachs Group started coverage on shares of Foundation Medicine in a report on Monday, January 29th. They set a “neutral” rating and a $73.00 target price for the company.

In related news, Director Evan/ Fa Jones sold 6,500 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $60.66, for a total value of $394,290.00. Following the completion of the sale, the director now owns 19,652 shares of the company’s stock, valued at approximately $1,192,090.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Steven J. Kafka sold 5,774 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $58.57, for a total transaction of $338,183.18. Following the completion of the sale, the chief operating officer now directly owns 96,761 shares of the company’s stock, valued at approximately $5,667,291.77. The disclosure for this sale can be found here. In the last three months, insiders sold 178,940 shares of company stock valued at $11,496,731. 2.70% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc boosted its stake in Foundation Medicine by 8.6% during the 2nd 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 last quarter. Fiduciary Trust Co. acquired a new stake in Foundation Medicine during the 4th quarter worth $205,000. SG Americas Securities LLC boosted its stake in Foundation Medicine by 36.6% during the 3rd quarter. SG Americas Securities LLC now owns 6,481 shares of the company’s stock worth $261,000 after purchasing an additional 1,736 shares during the last quarter. Voya Investment Management LLC acquired a new stake in Foundation Medicine during the 2nd quarter worth $262,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Foundation Medicine by 419.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,578 shares of the company’s stock worth $385,000 after purchasing an additional 7,735 shares during the last quarter. 32.73% of the stock is owned by institutional investors.

Foundation Medicine (NASDAQ:FMI) opened at $67.80 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.03 and a current ratio of 2.24. The firm has a market cap of $2,360.00, a P/E ratio of -15.17 and a beta of -0.03. Foundation Medicine has a 1-year low of $18.85 and a 1-year high of $75.20.

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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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