Northern Trust Corp boosted its position in shares of Foundation Medicine Inc (NASDAQ:FMI) by 7.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 187,714 shares of the company’s stock after acquiring an additional 12,881 shares during the period. Northern Trust Corp owned 0.52% of Foundation Medicine worth $7,462,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. raised its stake in Foundation Medicine by 1.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 684,090 shares of the company’s stock worth $27,192,000 after acquiring an additional 9,050 shares during the period. Vanguard Group Inc. raised its stake in Foundation Medicine by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 583,496 shares of the company’s stock worth $18,817,000 after acquiring an additional 28,619 shares during the period. Pioneer Investment Management Inc. grew its holdings in Foundation Medicine by 13.6% during the 2nd quarter. Pioneer Investment Management Inc. now owns 369,957 shares of the company’s stock valued at $14,706,000 after buying an additional 44,315 shares in the last quarter. Baillie Gifford & Co. grew its holdings in Foundation Medicine by 42.0% during the 2nd quarter. Baillie Gifford & Co. now owns 248,300 shares of the company’s stock valued at $9,870,000 after buying an additional 73,500 shares in the last quarter. Finally, Pier Capital LLC purchased a new stake in Foundation Medicine during the 2nd quarter valued at approximately $6,126,000.
Shares of Foundation Medicine Inc (NASDAQ FMI) opened at A$49.55 ($38.12) on Friday. Foundation Medicine Inc has a fifty-two week low of A$17.10 ($13.15) and a fifty-two week high of A$55.95 ($43.04).
Foundation Medicine (NASDAQ:FMI) last announced its quarterly earnings data on Wednesday, November 1st. The company reported A($0.90) (($0.69)) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of A($1.06) (($0.82)) by A$0.16 ($0.12). Foundation Medicine had a negative net margin of 76.52% and a negative return on equity of 171.21%. The business had revenue of A$42.66 million during the quarter, compared to analyst estimates of A$37.99 million. During the same period last year, the firm posted ($0.90) EPS. The company’s revenue was up 45.0% on a year-over-year basis.
A number of brokerages have issued reports on FMI. Zacks Investment Research raised shares of Foundation Medicine from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Monday, November 6th. BidaskClub raised shares of Foundation Medicine from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of A$43.00 ($33.08).
In related news, CFO Jason Ryan sold 9,731 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of A$50.00 ($38.46), for a total value of A$486,550.00 ($374,269.23). Following the completion of the transaction, the chief financial officer now directly owns 52,601 shares of the company’s stock, valued at A$2,630,050 ($2,023,115.38). The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael J. Pellini sold 4,349 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of A$38.80 ($29.85), for a total transaction of A$168,741.20 ($129,800.92). The disclosure for this sale can be found here. Over the last three months, insiders sold 30,057 shares of company stock valued at $1,301,960.
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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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