Alliancebernstein L.P. trimmed its holdings in shares of The Medicines Company (NASDAQ:MDCO) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,278,419 shares of the company’s stock after selling 37,099 shares during the period. Alliancebernstein L.P. owned approximately 1.75% of The Medicines worth $34,952,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Atria Investments LLC acquired a new position in The Medicines during the fourth quarter worth about $297,000. Swiss National Bank grew its holdings in The Medicines by 2.5% during the fourth quarter. Swiss National Bank now owns 123,650 shares of the company’s stock worth $3,381,000 after acquiring an additional 3,000 shares during the period. State of Wisconsin Investment Board grew its holdings in The Medicines by 31.3% during the fourth quarter. State of Wisconsin Investment Board now owns 68,300 shares of the company’s stock worth $1,867,000 after acquiring an additional 16,300 shares during the period. Arizona State Retirement System grew its holdings in The Medicines by 224.8% during the fourth quarter. Arizona State Retirement System now owns 107,819 shares of the company’s stock worth $2,948,000 after acquiring an additional 74,623 shares during the period. Finally, Macquarie Group Ltd. grew its holdings in The Medicines by 12.0% during the third quarter. Macquarie Group Ltd. now owns 978,051 shares of the company’s stock worth $36,227,000 after acquiring an additional 104,869 shares during the period.
A number of research analysts recently issued reports on MDCO shares. Oppenheimer set a $50.00 target price on The Medicines and gave the stock a “hold” rating in a report on Thursday, February 22nd. ValuEngine upgraded The Medicines from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. BidaskClub upgraded The Medicines from a “sell” rating to a “hold” rating in a research report on Thursday, March 15th. Citigroup upgraded The Medicines from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday, January 22nd. Finally, Zacks Investment Research upgraded The Medicines from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The Medicines has an average rating of “Buy” and an average price target of $50.00.
NASDAQ MDCO traded down $1.26 during trading on Friday, reaching $29.76. 988,616 shares of the company’s stock were exchanged, compared to its average volume of 1,171,874. The Medicines Company has a fifty-two week low of $24.45 and a fifty-two week high of $55.95. The firm has a market capitalization of $2,180.93, a PE ratio of -3.54 and a beta of 0.65. The company has a current ratio of 3.21, a quick ratio of 3.18 and a debt-to-equity ratio of 26.06.
The Medicines (NASDAQ:MDCO) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($2.19) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.48) by ($0.71). The Medicines had a negative return on equity of 316.40% and a negative net margin of 1,035.27%. The business had revenue of $8.60 million for the quarter, compared to analyst estimates of $20.71 million. During the same quarter in the previous year, the business posted ($1.19) earnings per share. The company’s revenue was down 50.6% compared to the same quarter last year. research analysts anticipate that The Medicines Company will post -2.71 EPS for the current year.
In other The Medicines news, Director William Crouse sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $32.26, for a total transaction of $241,950.00. Following the completion of the sale, the director now directly owns 60,633 shares in the company, valued at approximately $1,956,020.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.22% of the company’s stock.
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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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