Equities research analysts forecast that Foundation Medicine (NASDAQ:FMI) will announce ($1.13) earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Foundation Medicine’s earnings. The lowest EPS estimate is ($1.16) and the highest is ($1.11). Foundation Medicine reported earnings of ($1.31) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 13.7%. The company is expected to report its next quarterly earnings report on Tuesday, May 8th.
According to Zacks, analysts expect that Foundation Medicine will report full year earnings of ($4.33) per share for the current financial year, with EPS estimates ranging from ($4.36) to ($4.27). For the next year, analysts expect that the firm will report earnings of ($2.80) per share, with EPS estimates ranging from ($3.87) to ($1.62). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Foundation Medicine.
Foundation Medicine (NASDAQ:FMI) last released its earnings results on Wednesday, March 7th. The company reported ($1.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.97) by ($0.08). Foundation Medicine had a negative return on equity of 207.73% and a negative net margin of 105.60%. The business had revenue of $48.90 million during the quarter, compared to analysts’ expectations of $48.69 million. During the same period last year, the business earned ($1.02) earnings per share. The company’s revenue for the quarter was up 69.8% compared to the same quarter last year.
In related news, insider Vincent A. Miller sold 14,755 shares of Foundation Medicine stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $65.31, for a total value of $963,649.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason Ryan sold 21,035 shares of Foundation Medicine stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $64.38, for a total transaction of $1,354,233.30. The disclosure for this sale can be found here. Insiders have sold a total of 318,177 shares of company stock valued at $21,904,741 in the last 90 days. Insiders own 2.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of FMI. Fiduciary Trust Co. acquired a new stake in Foundation Medicine in the 4th quarter valued at approximately $205,000. BlueCrest Capital Management Ltd acquired a new stake in Foundation Medicine in the 4th quarter valued at approximately $239,000. Financial Advocates Investment Management acquired a new stake in Foundation Medicine in the 4th quarter valued at approximately $239,000. UBS Asset Management Americas Inc. acquired a new stake in Foundation Medicine in the 4th quarter valued at approximately $241,000. Finally, Raymond James & Associates acquired a new stake in Foundation Medicine in the 4th quarter valued at approximately $244,000. Hedge funds and other institutional investors own 31.17% of the company’s stock.
FMI opened at $79.70 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 1.86 and a debt-to-equity ratio of 1.90. Foundation Medicine has a 1-year low of $31.10 and a 1-year high of $87.10.
WARNING: This article was first published by Dakota Financial News and is the property of of Dakota Financial News. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://dakotafinancialnews.com/2018/04/13/zacks-brokerages-expect-foundation-medicine-fmi-to-post-1-13-earnings-per-share.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Foundation Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foundation Medicine and related companies with MarketBeat.com's FREE daily email newsletter.