California State Teachers Retirement System trimmed its holdings in shares of The Medicines Company (NASDAQ:MDCO) by 9.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,468 shares of the company’s stock after selling 11,770 shares during the period. California State Teachers Retirement System owned about 0.15% of The Medicines worth $4,092,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of The Medicines by 10.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,753 shares of the company’s stock worth $105,000 after purchasing an additional 264 shares during the period. Quantbot Technologies LP bought a new position in The Medicines in the third quarter worth about $171,000. SG Americas Securities LLC bought a new position in The Medicines in the third quarter worth about $198,000. Bluefin Trading LLC bought a new position in The Medicines in the second quarter worth about $214,000. Finally, Ameritas Investment Partners Inc. raised its stake in The Medicines by 4.2% in the second quarter. Ameritas Investment Partners Inc. now owns 6,058 shares of the company’s stock worth $230,000 after buying an additional 243 shares in the last quarter.
In other news, CEO Clive Meanwell sold 136,250 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $27.24, for a total value of $3,711,450.00. Following the sale, the chief executive officer now directly owns 587,652 shares in the company, valued at approximately $16,007,640.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexander J. Denner bought 170,000 shares of The Medicines stock in a transaction dated Wednesday, November 29th. The stock was acquired at an average price of $30.03 per share, for a total transaction of $5,105,100.00. Following the completion of the acquisition, the director now owns 6,663 shares in the company, valued at $200,089.89. The disclosure for this purchase can be found here. Insiders own 8.22% of the company’s stock.
The Medicines Company (NASDAQ MDCO) opened at $27.51 on Friday. The company has a debt-to-equity ratio of 3.42, a quick ratio of 1.79 and a current ratio of 2.31. The Medicines Company has a one year low of $25.40 and a one year high of $55.95. The firm has a market cap of $2,003.95, a price-to-earnings ratio of -3.01 and a beta of 0.71.
The Medicines (NASDAQ:MDCO) last released its earnings results on Wednesday, October 25th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.95. The company 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 174.68%. The Medicines’s revenue for the quarter was down 55.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.64) EPS. equities research analysts forecast that The Medicines Company will post -8.86 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of The Medicines from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. ValuEngine raised shares of The Medicines from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Chardan Capital reaffirmed a “buy” rating and set a $85.00 target price on shares of The Medicines in a research note on Wednesday, September 20th. Guggenheim assumed coverage on shares of The Medicines in a research note on Monday, October 23rd. They set a “buy” rating and a $45.00 target price for the company. Finally, Citigroup raised shares of The Medicines from a “sell” rating to an “outperform” rating in a research report on Thursday, November 30th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The Medicines presently has a consensus rating of “Buy” and a consensus target price of $52.56.
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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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