Iguana Healthcare Management LLC raised its position in The Medicines Company (NASDAQ:MDCO) by 16.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,000 shares of the company’s stock after buying an additional 10,000 shares during the period. The Medicines accounts for about 1.5% of Iguana Healthcare Management LLC’s investment portfolio, making the stock its 27th biggest position. Iguana Healthcare Management LLC owned 0.10% of The Medicines worth $2,306,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in MDCO. SG Americas Securities LLC increased its position in The Medicines by 33.8% during the fourth quarter. SG Americas Securities LLC now owns 7,145 shares of the company’s stock worth $195,000 after acquiring an additional 1,805 shares during the period. Jane Street Group LLC bought a new position in shares of The Medicines in the fourth quarter worth approximately $202,000. Elkfork Partners LLC bought a new position in shares of The Medicines in the fourth quarter worth approximately $214,000. Xact Kapitalforvaltning AB bought a new position in shares of The Medicines in the fourth quarter worth approximately $218,000. Finally, Teza Capital Management LLC bought a new position in shares of The Medicines in the first quarter worth approximately $342,000.
MDCO has been the subject of a number of research reports. Oppenheimer reiterated a “buy” rating on shares of The Medicines in a report on Thursday, March 22nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $47.00 price objective on shares of The Medicines in a research report on Friday, February 23rd. B. Riley initiated coverage on The Medicines in a research report on Thursday, June 7th. They set a “buy” rating and a $55.00 price objective on the stock. BidaskClub raised The Medicines from a “hold” rating to a “buy” rating in a research report on Tuesday, June 12th. Finally, Zacks Investment Research raised The Medicines from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The Medicines currently has an average rating of “Buy” and an average price target of $50.56.
MDCO traded down $0.30 on Monday, hitting $36.60. 8,545 shares of the company’s stock traded hands, compared to its average volume of 752,021. The company has a market capitalization of $2.72 billion, a PE ratio of -4.39 and a beta of 0.71. The Medicines Company has a one year low of $24.45 and a one year high of $43.79. The company has a current ratio of 2.56, a quick ratio of 2.52 and a debt-to-equity ratio of 9.70.
The Medicines (NASDAQ:MDCO) last issued its earnings results on Wednesday, April 25th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.03. The Medicines had a negative return on equity of 609.97% and a negative net margin of 1,109.21%. The company had revenue of $7.71 million for the quarter, compared to the consensus estimate of $9.21 million. During the same quarter last year, the company earned ($1.05) EPS. The firm’s quarterly revenue was down 55.8% on a year-over-year basis. equities research analysts predict that The Medicines Company will post -3.51 earnings per share for the current year.
In other The Medicines news, Director William Crouse sold 7,500 shares of the stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $32.26, for a total transaction of $241,950.00. Following the transaction, the director now owns 60,633 shares in the company, valued at $1,956,020.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Armin M. Kessler sold 20,000 shares of the stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $28.71, for a total value of $574,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 35,000 shares of company stock worth $1,057,650 over the last ninety days. 10.29% of the stock is currently owned by corporate insiders.
The Medicines Profile
The Medicines Company, a biopharmaceutical company, provides medicines to treat acute and intensive care patients. The company markets Angiomax, an intravenous direct thrombin inhibitor used as an anticoagulant in combination with aspirin in patients with unstable angina undergoing percutaneous transluminal coronary angioplasty, and for patients undergoing percutaneous coronary intervention in the United States.
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