Zurcher Kantonalbank Zurich Cantonalbank Has $385,000 Position in Foundation Medicine Inc (FMI)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Foundation Medicine Inc (NASDAQ:FMI) by 419.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,578 shares of the company’s stock after acquiring an additional 7,735 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Foundation Medicine were worth $385,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Oppenheimer & Co. Inc. boosted 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 valued at $27,192,000 after purchasing an additional 9,050 shares in the last quarter. Vanguard Group Inc. boosted its stake in Foundation Medicine by 8.2% during the 2nd quarter. Vanguard Group Inc. now owns 631,339 shares of the company’s stock valued at $25,096,000 after purchasing an additional 47,843 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in Foundation Medicine by 146.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 579,225 shares of the company’s stock valued at $23,024,000 after purchasing an additional 343,770 shares in the last quarter. State Street Corp boosted its stake in Foundation Medicine by 124.2% during the 2nd quarter. State Street Corp now owns 526,775 shares of the company’s stock valued at $20,947,000 after purchasing an additional 291,815 shares in the last quarter. Finally, Pioneer Investment Management Inc. boosted its stake 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 purchasing an additional 44,315 shares in the last quarter. Hedge funds and other institutional investors own 33.44% of the company’s stock.

FMI has been the subject of a number of research reports. Zacks Investment Research raised Foundation Medicine from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Monday, November 6th. BidaskClub raised Foundation Medicine from a “hold” rating to a “buy” rating in a research note on Saturday, September 9th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Foundation Medicine presently has an average rating of “Hold” and an average price target of $43.00.

In other news, SVP Robert W. Hesslein sold 2,165 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $38.80, for a total value of $84,002.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason Ryan sold 9,731 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $50.00, for a total value of $486,550.00. Following the completion of the sale, the chief financial officer now owns 52,601 shares of the company’s stock, valued at approximately $2,630,050. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,057 shares of company stock valued at $1,301,960. Corporate insiders own 2.70% of the company’s stock.

Shares of Foundation Medicine Inc (FMI) opened at $58.90 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.03 and a current ratio of 2.24. Foundation Medicine Inc has a one year low of $17.10 and a one year high of $70.75.

Foundation Medicine (NASDAQ:FMI) last released its quarterly earnings data on Wednesday, November 1st. The company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.16. The business had revenue of $42.66 million during the quarter, compared to analyst estimates of $37.99 million. Foundation Medicine had a negative return on equity of 143.18% and a negative net margin of 119.69%. The company’s revenue was up 45.0% compared to the same quarter last year. During the same period last year, the company posted ($0.90) EPS. sell-side analysts anticipate that Foundation Medicine Inc will post -4.43 earnings per share for the current fiscal year.

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Foundation Medicine 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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Institutional Ownership by Quarter for Foundation Medicine (NASDAQ:FMI)

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