The Medicines (NASDAQ:MDCO) announced its earnings results on Wednesday. The company reported ($2.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.48) by ($0.71), Bloomberg Earnings reports. The Medicines had a negative net margin of 767.94% and a negative return on equity of 174.68%. The business had revenue of $8.60 million during the quarter, compared to analyst estimates of $20.71 million. During the same period in the previous year, the company earned ($1.19) earnings per share. The business’s revenue for the quarter was down 50.6% on a year-over-year basis.
The Medicines (MDCO) traded down $0.36 during mid-day trading on Wednesday, hitting $32.80. The company had a trading volume of 1,409,300 shares, compared to its average volume of 1,598,514. 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 $2,417.27, a price-to-earnings ratio of -3.59 and a beta of 0.69. The Medicines has a twelve month low of $24.45 and a twelve month high of $55.95.
A number of equities analysts have issued reports on the company. Zacks Investment Research lowered The Medicines from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Oppenheimer set a $50.00 target price on The Medicines and gave the company a “hold” rating in a research report on Thursday, October 26th. Jefferies Group reaffirmed a “buy” rating and issued a $54.00 target price on shares of The Medicines in a research report on Thursday, October 26th. BidaskClub raised The Medicines from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $45.00 price target on shares of The Medicines in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $51.70.
In related news, Director Alexander J. Denner bought 170,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were purchased at an average cost of $30.03 per share, with a total value of $5,105,100.00. Following the completion of the transaction, the director now directly owns 6,663 shares of the company’s stock, valued at $200,089.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Fredric N. Eshelman bought 200,000 shares of the company’s stock in a transaction on Friday, December 8th. The stock was bought at an average cost of $26.56 per share, for a total transaction of $5,312,000.00. Following the completion of the transaction, the insider now directly owns 1,028,383 shares of the company’s stock, valued at $27,313,852.48. The disclosure for this purchase can be found here. Corporate insiders own 8.22% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of MDCO. Quantbot Technologies LP acquired a new stake in The Medicines in the third quarter worth $171,000. SG Americas Securities LLC increased its position in The Medicines by 33.8% in the fourth quarter. SG Americas Securities LLC now owns 7,145 shares of the company’s stock worth $195,000 after buying an additional 1,805 shares during the period. Jane Street Group LLC acquired a new stake in The Medicines in the fourth quarter worth $202,000. Ameritas Investment Partners Inc. increased its position 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 during the period. Finally, HighTower Advisors LLC increased its position in The Medicines by 16.2% in the second quarter. HighTower Advisors LLC now owns 6,754 shares of the company’s stock worth $258,000 after buying an additional 941 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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