Foundation Medicine (FMI) Downgraded by BidaskClub to Hold

Foundation Medicine (NASDAQ:FMI) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other equities analysts have also recently weighed in on FMI. Zacks Investment Research upgraded Foundation Medicine from a “sell” rating to a “hold” rating in a report on Thursday. Goldman Sachs Group began coverage on Foundation Medicine in a report on Monday, January 29th. They set a “neutral” rating and a $73.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Foundation Medicine presently has a consensus rating of “Hold” and a consensus target price of $52.25.

Shares of Foundation Medicine (NASDAQ FMI) traded down $1.65 on Friday, reaching $64.85. The company’s stock had a trading volume of 559,945 shares, compared to its average volume of 225,022. Foundation Medicine has a 12-month low of $22.40 and a 12-month high of $75.20. 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 company has a market capitalization of $2,410.80, a PE ratio of -14.51 and a beta of -0.03.

In related news, SVP Robert W. Hesslein sold 1,864 shares of Foundation Medicine stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $64.00, for a total value of $119,296.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Evan/ Fa Jones sold 1,400 shares of Foundation Medicine stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $62.05, for a total value of $86,870.00. Following the completion of the sale, the director now directly owns 17,652 shares in the company, valued at approximately $1,095,306.60. The disclosure for this sale can be found here. Insiders have sold a total of 228,717 shares of company stock worth $14,987,592 in the last quarter. 2.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc raised its position in Foundation Medicine by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 3,442 shares of the company’s stock valued at $138,000 after buying an additional 274 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Foundation Medicine by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,747 shares of the company’s stock valued at $467,000 after buying an additional 341 shares during the last quarter. Whittier Trust Co. raised its position in Foundation Medicine by 1.6% in the 4th quarter. Whittier Trust Co. now owns 44,685 shares of the company’s stock valued at $3,048,000 after buying an additional 725 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Foundation Medicine by 8.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,378 shares of the company’s stock valued at $708,000 after buying an additional 800 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Foundation Medicine by 8.8% in the 2nd quarter. Wells Fargo & Company MN now owns 11,510 shares of the company’s stock valued at $458,000 after buying an additional 931 shares during the last quarter. 33.12% of the stock is currently owned by institutional investors and hedge funds.

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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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