Wall Street brokerages expect that The Medicines Company (NASDAQ:MDCO) will post earnings per share of ($1.48) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for The Medicines’ earnings. The highest EPS estimate is ($1.11) and the lowest is ($1.72). The Medicines reported earnings per share of ($1.77) in the same quarter last year, which suggests a positive year over year growth rate of 16.4%. The business is expected to issue its next quarterly earnings results on Tuesday, February 27th.
On average, analysts expect that The Medicines will report full-year earnings of ($8.86) per share for the current year, with EPS estimates ranging from ($9.10) to ($8.48). For the next year, analysts forecast that the company will report earnings of ($2.81) per share, with EPS estimates ranging from ($3.87) to ($1.75). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for The Medicines.
A number of research firms have recently weighed in on MDCO. Guggenheim began coverage on shares of The Medicines in a research report on Monday, October 23rd. They set a “buy” rating and a $45.00 price target for the company. Zacks Investment Research downgraded shares of The Medicines from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Oppenheimer set a $50.00 price target on shares of The Medicines and gave the stock a “hold” rating in a research report on Thursday, October 26th. Jefferies Group reissued a “buy” rating and set a $54.00 price target on shares of The Medicines in a research report on Thursday, October 26th. Finally, BidaskClub raised shares of The Medicines from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, one has given 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 $51.70.
Shares of The Medicines (NASDAQ MDCO) opened at $30.84 on Friday. The Medicines has a 1 year low of $24.45 and a 1 year high of $55.95. 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 firm has a market cap of $2,248.15, a P/E ratio of -3.38 and a beta of 0.69.
In other The Medicines news, insider Fredric N. Eshelman acquired 200,000 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was purchased at an average price of $26.56 per share, with a total value of $5,312,000.00. Following the completion of the acquisition, the insider now directly owns 1,028,383 shares in the company, valued at approximately $27,313,852.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexander J. Denner acquired 170,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was acquired at an average cost of $30.03 per share, with a total value of $5,105,100.00. Following the acquisition, the director now owns 6,663 shares of the company’s stock, valued at $200,089.89. The disclosure for this purchase can be found here. Insiders own 8.22% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in MDCO. Westfield Capital Management Co. LP boosted its holdings in The Medicines by 21.9% in the third quarter. Westfield Capital Management Co. LP now owns 2,476,778 shares of the company’s stock worth $91,740,000 after purchasing an additional 445,419 shares during the period. Pictet Asset Management Ltd. acquired a new position in The Medicines in the third quarter worth $15,819,000. Iridian Asset Management LLC CT boosted its holdings in The Medicines by 23.2% in the fourth quarter. Iridian Asset Management LLC CT now owns 2,170,215 shares of the company’s stock worth $59,334,000 after purchasing an additional 408,177 shares during the period. State Street Corp boosted its holdings in The Medicines by 9.0% in the second quarter. State Street Corp now owns 2,220,199 shares of the company’s stock worth $84,391,000 after purchasing an additional 183,086 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in The Medicines by 102.6% in the second quarter. Renaissance Technologies LLC now owns 328,832 shares of the company’s stock worth $12,499,000 after purchasing an additional 166,500 shares during the period.
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About The Medicines
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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