Analysts expect that Foundation Medicine Inc (NASDAQ:FMI) will announce $44.46 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Foundation Medicine’s earnings, with estimates ranging from $42.70 million to $46.40 million. Foundation Medicine reported sales of $26.33 million in the same quarter last year, which indicates a positive year-over-year growth rate of 68.9%. The business is expected to report its next quarterly earnings results on Tuesday, May 8th.
On average, analysts expect that Foundation Medicine will report full-year sales of $44.46 million for the current financial year. For the next financial year, analysts expect that the company will post sales of $242.93 million per share, with estimates ranging from $188.00 million to $284.34 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Foundation Medicine.
Foundation Medicine (NASDAQ:FMI) last released its quarterly earnings results on Wednesday, March 7th. The company reported ($1.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by ($0.08). Foundation Medicine had a negative net margin of 105.60% and a negative return on equity of 207.73%. The company had revenue of $48.90 million during the quarter, compared to the consensus estimate of $48.69 million. During the same period in the prior year, the company earned ($1.02) earnings per share. The firm’s revenue was up 69.8% compared to the same quarter last year.
In other Foundation Medicine news, CFO Jason Ryan sold 2,336 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $64.00, for a total transaction of $149,504.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Evan/ Fa Jones sold 1,400 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $62.05, for a total transaction of $86,870.00. Following the sale, the director now directly owns 17,652 shares of the company’s stock, valued at $1,095,306.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 277,852 shares of company stock valued at $18,786,273. 2.70% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. State Street Corp lifted its position in Foundation Medicine by 124.2% during the second quarter. State Street Corp now owns 526,775 shares of the company’s stock worth $20,947,000 after buying an additional 291,815 shares during the period. Boston Advisors LLC acquired a new stake in Foundation Medicine during the fourth quarter worth about $13,000,000. Advisory Research Inc. grew its stake in shares of Foundation Medicine by 172.2% in the fourth quarter. Advisory Research Inc. now owns 76,581 shares of the company’s stock valued at $5,223,000 after buying an additional 48,450 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Foundation Medicine by 8.2% during the 2nd quarter. Vanguard Group Inc. now owns 631,339 shares of the company’s stock worth $25,096,000 after buying an additional 47,843 shares during the last quarter. Finally, Bain Capital Public Equity Management LLC bought a new position in Foundation Medicine during the 4th quarter worth approximately $3,093,000. 32.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of Foundation Medicine (NASDAQ FMI) traded up $6.15 during trading on Thursday, reaching $86.15. 851,414 shares of the company’s stock were exchanged, compared to its average volume of 319,120. Foundation Medicine has a 1 year low of $29.90 and a 1 year high of $87.10. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.86 and a quick ratio of 2.03. The firm has a market capitalization of $3,120.00, a price-to-earnings ratio of -19.10 and a beta of -0.21.
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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