Renaissance Technologies LLC Increases Stake in The Medicines Company (MDCO)

Renaissance Technologies LLC raised its holdings in The Medicines Company (NASDAQ:MDCO) by 102.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 328,832 shares of the company’s stock after acquiring an additional 166,500 shares during the quarter. Renaissance Technologies LLC owned approximately 0.46% of The Medicines worth $12,499,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of MDCO. Russell Investments Group Ltd. lifted its stake in shares of The Medicines by 134.0% during the 1st quarter. Russell Investments Group Ltd. now owns 23,115 shares of the company’s stock worth $1,130,000 after purchasing an additional 13,237 shares during the last quarter. US Bancorp DE lifted its stake in shares of The Medicines by 1.7% during the 1st quarter. US Bancorp DE now owns 3,413 shares of the company’s stock worth $167,000 after purchasing an additional 58 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of The Medicines by 5.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,496 shares of the company’s stock worth $122,000 after purchasing an additional 120 shares during the last quarter. Teachers Advisors LLC raised its stake in The Medicines by 1.0% in the first quarter. Teachers Advisors LLC now owns 392,208 shares of the company’s stock valued at $19,179,000 after buying an additional 3,834 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in The Medicines by 341.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,109 shares of the company’s stock valued at $104,000 after buying an additional 1,631 shares during the last quarter.

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Shares of The Medicines Company (MDCO) opened at 28.30 on Friday. The stock’s market cap is $2.04 billion. The firm has a 50-day moving average price of $35.52 and a 200-day moving average price of $39.71. The Medicines Company has a 52-week low of $28.00 and a 52-week high of $55.95.

The Medicines (NASDAQ:MDCO) last posted its earnings results on Wednesday, October 25th. The company reported ($0.42) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.37) by $0.95. The business had revenue of $16.87 million for the quarter, compared to analysts’ expectations of $26.06 million. The Medicines had a negative net margin of 767.94% and a negative return on equity of 149.81%. The firm’s revenue for the quarter was down 55.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.64) earnings per share. On average, analysts anticipate that The Medicines Company will post ($9.21) EPS for the current fiscal year.

MDCO has been the subject of several research analyst reports. Cowen and Company reaffirmed a “buy” rating and set a $54.00 target price (down from $61.00) on shares of The Medicines in a report on Thursday, August 10th. Oppenheimer Holdings, Inc. set a $50.00 price objective on The Medicines and gave the company a “hold” rating in a report on Wednesday, October 4th. TheStreet lowered The Medicines from a “c-” rating to a “d” rating in a report on Wednesday, August 9th. Citigroup Inc. dropped their price objective on The Medicines from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, August 14th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $54.00 target price on shares of The Medicines in a research report on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $53.18.

The Medicines Company Profile

The Medicines Company is a global biopharmaceutical company. The Company is focused on advancing the treatment of acute and intensive care patients through the delivery of medicines to the hospital marketplace around the world. It markets Angiomax (bivalirudin), Ionsys (fentanyl iontophoretic transdermal system), Minocin (minocycline) for injection and Orbactiv (oritavancin).

Institutional Ownership by Quarter for The Medicines (NASDAQ:MDCO)

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