The Medicines (NASDAQ:MDCO) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Sunday, December 31st.
MDCO has been the subject of several other research reports. 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. Guggenheim initiated coverage on shares of The Medicines in a research report on Monday, October 23rd. They issued a “buy” rating and a $45.00 target price for the company. Jefferies Group restated a “buy” rating and issued a $54.00 target price on shares of The Medicines in a research report on Thursday, September 14th. Oppenheimer set a $50.00 target price on shares of The Medicines and gave the company a “hold” rating in a research report on Wednesday, October 4th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $85.00 price target on shares of The Medicines in a report on Wednesday, September 20th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $52.56.
Shares of The Medicines (MDCO) traded down $0.32 on Friday, hitting $26.47. 581,600 shares of the stock were exchanged, compared to its average volume of 1,077,700. The Medicines has a 52 week low of $25.40 and a 52 week high of $55.95. 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 company has a market cap of $1,930.00, a P/E ratio of -2.89 and a beta of 0.71.
The Medicines (NASDAQ:MDCO) last issued its quarterly earnings data 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 business had revenue of $16.87 million during the quarter, compared to analysts’ expectations of $26.06 million. During the same quarter in the previous year, the company earned ($0.64) EPS. The business’s revenue was down 55.1% on a year-over-year basis. analysts expect that The Medicines will post -8.86 earnings per share for the current year.
In other The Medicines news, CEO Clive Meanwell sold 136,250 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $27.24, for a total transaction of $3,711,450.00. Following the sale, the chief executive officer now directly owns 587,652 shares of the company’s stock, valued at approximately $16,007,640.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Fredric N. Eshelman purchased 200,000 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was purchased at an average price of $26.56 per share, for a total transaction of $5,312,000.00. Following the transaction, the insider now directly owns 1,028,383 shares in the company, valued at approximately $27,313,852.48. The disclosure for this purchase can be found here. Insiders own 8.22% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its position in shares of The Medicines by 1.1% in the 2nd quarter. FMR LLC now owns 10,825,038 shares of the company’s stock worth $411,460,000 after purchasing an additional 117,982 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of The Medicines by 21.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 2,476,778 shares of the company’s stock valued at $91,740,000 after acquiring an additional 445,419 shares during the period. State Street Corp lifted its position in shares of The Medicines by 9.0% during the 2nd quarter. State Street Corp now owns 2,220,199 shares of the company’s stock valued at $84,391,000 after acquiring an additional 183,086 shares during the period. Franklin Resources Inc. lifted its position in shares of The Medicines by 24.1% during the 2nd quarter. Franklin Resources Inc. now owns 1,765,169 shares of the company’s stock valued at $67,093,000 after acquiring an additional 343,160 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of The Medicines by 1.6% during the 2nd quarter. Alliancebernstein L.P. now owns 1,213,668 shares of the company’s stock valued at $46,132,000 after acquiring an additional 19,043 shares during the period.
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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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