The Medicines Company (NASDAQ:MDCO) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 19,433,286 shares, a decrease of 6.0% from the May 31st total of 20,683,804 shares. Approximately 27.7% of the shares of the company are sold short. Based on an average trading volume of 882,040 shares, the days-to-cover ratio is currently 22.0 days.
The Medicines opened at $34.69 on Friday, according to Marketbeat Ratings. 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 company has a market cap of $2.62 billion, a P/E ratio of -4.13 and a beta of 0.71. The Medicines has a 1 year low of $24.45 and a 1 year high of $43.79.
The Medicines (NASDAQ:MDCO) last posted its quarterly earnings results on Wednesday, April 25th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $0.03. The business had revenue of $7.71 million for the quarter, compared to analyst estimates of $9.21 million. The Medicines had a negative net margin of 1,109.21% and a negative return on equity of 609.97%. The firm’s revenue for the quarter was down 55.8% on a year-over-year basis. During the same quarter last year, the business posted ($1.05) EPS. equities analysts expect that The Medicines will post -3.51 EPS for the current year.
In other The Medicines news, Director Melvin K. Spigelman sold 7,500 shares of the stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $32.20, for a total value of $241,500.00. Following the transaction, the director now directly owns 60,633 shares of the company’s stock, valued at approximately $1,952,382.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Armin M. Kessler sold 20,000 shares of the stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $28.71, for a total transaction of $574,200.00. The disclosure for this sale can be found here. 10.29% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC boosted its position in shares of The Medicines by 33.8% during the 4th 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 in the last quarter. Jane Street Group LLC acquired a new stake in shares of The Medicines during the 4th quarter worth approximately $202,000. Elkfork Partners LLC acquired a new stake in shares of The Medicines during the 4th quarter worth approximately $214,000. Xact Kapitalforvaltning AB acquired a new stake in shares of The Medicines during the 4th quarter worth approximately $218,000. Finally, Teza Capital Management LLC acquired a new stake in shares of The Medicines during the 1st quarter worth approximately $342,000.
Several research analysts have recently commented on the stock. BidaskClub cut shares of The Medicines from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 24th. Oppenheimer set a $50.00 target price on shares of The Medicines and gave the stock a “buy” rating in a report on Monday, March 12th. B. Riley assumed coverage on shares of The Medicines in a report on Thursday, June 7th. They set a “buy” rating and a $55.00 target price on the stock. Finally, Zacks Investment Research cut shares of The Medicines from a “hold” rating to a “sell” rating in a report on Tuesday, April 17th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $50.56.
The Medicines Company 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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