Bellevue Group AG Invests $1.14 Million in Foundation Medicine Inc (FMI)

Bellevue Group AG purchased a new stake in shares of Foundation Medicine Inc (NASDAQ:FMI) during the 2nd quarter, HoldingsChannel reports. The firm purchased 8,357 shares of the company’s stock, valued at approximately $1,142,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Lord Abbett & CO. LLC increased its position in shares of Foundation Medicine by 3.0% in the first quarter. Lord Abbett & CO. LLC now owns 613,146 shares of the company’s stock worth $48,285,000 after purchasing an additional 17,631 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Foundation Medicine by 3.5% in the second quarter. Baillie Gifford & Co. now owns 404,260 shares of the company’s stock worth $55,262,000 after purchasing an additional 13,843 shares during the last quarter. Elk Creek Partners LLC bought a new position in shares of Foundation Medicine in the first quarter worth approximately $10,721,000. Jennison Associates LLC increased its position in shares of Foundation Medicine by 1.3% in the second quarter. Jennison Associates LLC now owns 126,761 shares of the company’s stock worth $17,328,000 after purchasing an additional 1,665 shares during the last quarter. Finally, Highbridge Capital Management LLC bought a new position in shares of Foundation Medicine in the first quarter worth approximately $8,489,000. Hedge funds and other institutional investors own 33.17% of the company’s stock.

Several research analysts recently weighed in on the stock. BidaskClub cut shares of Foundation Medicine from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 26th. Zacks Investment Research cut shares of Foundation Medicine from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. William Blair cut shares of Foundation Medicine from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 19th. Finally, ValuEngine upgraded shares of Foundation Medicine from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Foundation Medicine currently has a consensus rating of “Buy” and a consensus target price of $99.00.

Shares of FMI opened at $137.00 on Friday. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of -30.44 and a beta of -0.10. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 4.76. Foundation Medicine Inc has a 1 year low of $31.70 and a 1 year high of $137.20.

In other Foundation Medicine news, Director Michael J. Pellini sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $105.45, for a total value of $369,075.00. Following the completion of the sale, the director now owns 103,711 shares of the company’s stock, valued at $10,936,324.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vincent A. Miller sold 1,570 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $85.00, for a total value of $133,450.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,064 shares of company stock valued at $2,004,965. 3.00% of the stock is owned by insiders.

Foundation Medicine 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.

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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).

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

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