Candriam Luxembourg S.C.A. boosted its holdings in shares of The Medicines Company (NASDAQ:MDCO) by 13.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 102,000 shares of the company’s stock after purchasing an additional 12,000 shares during the period. Candriam Luxembourg S.C.A. owned about 0.14% of The Medicines worth $3,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. PNC Financial Services Group Inc. increased its holdings 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 in the last quarter. HighTower Advisors LLC purchased a new stake in shares of The Medicines during the first quarter worth about $284,000. State of Alaska Department of Revenue increased its stake in shares of The Medicines by 80.1% during the second quarter. State of Alaska Department of Revenue now owns 14,249 shares of the company’s stock worth $541,000 after purchasing an additional 6,339 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of The Medicines by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 29,400 shares of the company’s stock worth $1,117,000 after purchasing an additional 300 shares in the last quarter. Finally, Aperio Group LLC increased its stake in shares of The Medicines by 25.6% during the second quarter. Aperio Group LLC now owns 28,973 shares of the company’s stock worth $1,101,000 after purchasing an additional 5,903 shares in the last quarter.
A number of research firms have recently commented on MDCO. Chardan Capital reissued a “buy” rating and set a $85.00 target price (up previously from $80.00) on shares of The Medicines in a research note on Tuesday, August 29th. Zacks Investment Research cut shares of The Medicines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 10th. Cowen Inc reaffirmed a “buy” rating and set a $54.00 price objective (down previously from $61.00) on shares of The Medicines in a research note on Thursday, August 10th. Citigroup Inc. dropped their price objective on shares of The Medicines from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Monday, August 14th. Finally, Oppenheimer Holdings, Inc. set a $50.00 target price on shares of The Medicines and gave the company a “hold” rating in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $53.67.
Shares of The Medicines Company (NASDAQ MDCO) traded down $0.41 during mid-day trading on Friday, hitting $30.99. 21,925 shares of the stock traded hands, compared to its average volume of 1,429,665. The company has a current ratio of 2.31, a quick ratio of 1.79 and a debt-to-equity ratio of 3.42. The Medicines Company has a 52-week low of $28.00 and a 52-week high of $55.95.
The Medicines (NASDAQ:MDCO) last announced its earnings results on Wednesday, October 25th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.95. The Medicines had a negative net margin of 767.94% and a negative return on equity of 174.68%. The firm had revenue of $16.87 million for the quarter, compared to the consensus estimate of $26.06 million. During the same period in the prior year, the firm earned ($0.64) EPS. The firm’s revenue for the quarter was down 55.1% on a year-over-year basis. equities analysts expect that The Medicines Company will post -8.84 earnings per share for the current year.
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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).
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