Amundi Pioneer Asset Management Inc. cut its stake in shares of Foundation Medicine Inc (NASDAQ:FMI) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 273,821 shares of the company’s stock after selling 768 shares during the period. Amundi Pioneer Asset Management Inc.’s holdings in Foundation Medicine were worth $21,563,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of FMI. Lord Abbett & CO. LLC raised its stake in Foundation Medicine by 3.0% in the first quarter. Lord Abbett & CO. LLC now owns 613,146 shares of the company’s stock valued at $48,285,000 after buying an additional 17,631 shares during the period. Baillie Gifford & Co. raised its stake in Foundation Medicine by 27.1% in the first quarter. Baillie Gifford & Co. now owns 390,417 shares of the company’s stock valued at $30,746,000 after buying an additional 83,259 shares during the period. Geode Capital Management LLC raised its stake in Foundation Medicine by 12.8% in the fourth quarter. Geode Capital Management LLC now owns 161,420 shares of the company’s stock valued at $11,008,000 after buying an additional 18,289 shares during the period. Elk Creek Partners LLC bought a new stake in Foundation Medicine in the first quarter valued at approximately $10,721,000. Finally, Franklin Resources Inc. bought a new stake in Foundation Medicine in the first quarter valued at approximately $8,033,000. 33.41% of the stock is owned by hedge funds and other institutional investors.
Get Foundation Medicine alerts:
In other Foundation Medicine news, CEO Troy Cox sold 7,063 shares of the firm’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $70.01, for a total transaction of $494,480.63. Following the transaction, the chief executive officer now owns 245,627 shares in the company, valued at approximately $17,196,346.27. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael J. Pellini sold 13,659 shares of the firm’s stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $70.28, for a total value of $959,954.52. Following the transaction, the director now owns 114,211 shares in the company, valued at approximately $8,026,749.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,453 shares of company stock worth $4,110,461. 3.00% of the stock is owned by corporate insiders.
Shares of NASDAQ FMI opened at $136.40 on Friday. The company has a market cap of $5.06 billion, a PE ratio of -30.31 and a beta of -0.04. The company has a debt-to-equity ratio of 4.76, a quick ratio of 1.98 and a current ratio of 2.27. Foundation Medicine Inc has a 1-year low of $31.70 and a 1-year high of $137.20.
Foundation Medicine (NASDAQ:FMI) last announced its earnings results on Wednesday, May 2nd. The company reported ($1.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.10) by $0.08. The company had revenue of $52.84 million for the quarter, compared to analyst estimates of $44.99 million. Foundation Medicine had a negative return on equity of 299.63% and a negative net margin of 84.96%. The firm’s quarterly revenue was up 100.7% compared to the same quarter last year. During the same quarter last year, the company earned ($1.31) earnings per share. equities research analysts predict that Foundation Medicine Inc will post -4.32 earnings per share for the current year.
Several analysts have issued reports on FMI shares. BidaskClub upgraded Foundation Medicine from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. ValuEngine upgraded Foundation Medicine from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Wells Fargo & Co restated a “market perform” rating and issued a $80.00 price objective (up previously from $67.00) on shares of Foundation Medicine in a research note on Thursday, March 8th. Finally, William Blair lowered Foundation Medicine from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $77.25.
Foundation Medicine Company Profile
Foundation Medicine, Inc provides various molecular information products in the United States. The company's molecular information platform includes proprietary methods and algorithms to analyze specimens across various types of cancer, as well as for incorporating that information into clinical care; and offers genomic insights about each patient's individual cancer, enabling physicians to optimize treatments in clinical practice and biopharmaceutical companies to develop targeted therapies and immunotherapies.
Want to see what other hedge funds are holding FMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Foundation Medicine Inc (NASDAQ:FMI).