Metropolitan Life Insurance Co. NY Acquires 559 Shares of Foundation Medicine Inc (FMI)

Metropolitan Life Insurance Co. NY lifted its holdings in shares of Foundation Medicine Inc (NASDAQ:FMI) by 12.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 4,963 shares of the company’s stock after purchasing an additional 559 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Foundation Medicine were worth $678,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. BlackRock Inc. grew its position in Foundation Medicine by 6.6% in the 2nd quarter. BlackRock Inc. now owns 1,465,265 shares of the company’s stock worth $200,303,000 after purchasing an additional 90,921 shares in the last quarter. Lord Abbett & CO. LLC grew its position in Foundation Medicine by 3.0% in the 1st 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 in the last quarter. Baillie Gifford & Co. grew its position in Foundation Medicine by 3.5% in the 2nd 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 in the last quarter. Morgan Stanley grew its position in Foundation Medicine by 240.0% in the 2nd quarter. Morgan Stanley now owns 381,412 shares of the company’s stock worth $52,139,000 after purchasing an additional 269,219 shares in the last quarter. Finally, Gabelli Funds LLC bought a new stake in Foundation Medicine in the 2nd quarter worth about $40,068,000. 33.17% of the stock is owned by institutional investors.

In other news, CFO Jason Ryan sold 3,403 shares of the stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $136.66, for a total transaction of $465,053.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Roche Holdings Inc bought 16,221,027 shares of Foundation Medicine stock in a transaction dated Tuesday, July 31st. The shares were bought at an average cost of $137.00 per share, with a total value of $2,222,280,699.00. The disclosure for this purchase can be found here. Insiders have sold a total of 10,994 shares of company stock valued at $1,502,440 over the last three months. Insiders own 3.00% of the company’s stock.

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 $153.00 price objective for the company in a research report on Wednesday, July 4th. William Blair downgraded shares of Foundation Medicine from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 19th. Finally, BidaskClub raised shares of Foundation Medicine from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 31st. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $99.00.

Foundation Medicine stock opened at $137.00 on Wednesday. Foundation Medicine Inc has a twelve month low of $31.70 and a twelve month high of $137.20. The company has a market cap of $5.09 billion, a PE 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 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.

Featured Story: What strategies should day traders use to execute a trade?

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)

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.

Leave a Reply