The Medicines Co. (MDCO) Shares Up 3.6%
The Medicines Co. (NASDAQ:MDCO) shot up 3.6% during trading on Wednesday . The company traded as high as $34.91 and last traded at $34.86, with a volume of 247,711 shares changing hands. The stock had previously closed at $33.64.
A number of research firms recently commented on MDCO. Leerink Swann reiterated a “buy” rating and issued a $53.00 price objective on shares of The Medicines in a report on Thursday, June 23rd. Jefferies Group reiterated a “buy” rating and issued a $43.00 price objective on shares of The Medicines in a report on Wednesday, June 15th. Chardan Capital reiterated a “buy” rating on shares of The Medicines in a report on Thursday, June 2nd. Zacks Investment Research downgraded The Medicines from a “hold” rating to a “sell” rating in a report on Friday, May 13th. Finally, Cowen and Company reiterated a “buy” rating on shares of The Medicines in a report on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $45.70.
The stock’s market capitalization is $2.42 billion. The stock has a 50-day moving average price of $35.95 and a 200-day moving average price of $34.15.
The Medicines (NASDAQ:MDCO) last released its quarterly earnings data on Monday, May 9th. The company reported ($1.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.89) by $0.14. The company earned $50.30 million during the quarter, compared to the consensus estimate of $48.96 million. During the same quarter last year, the business posted $0.08 earnings per share. The firm’s quarterly revenue was down 54.3% compared to the same quarter last year. Analysts anticipate that The Medicines Co. will post ($4.76) EPS for the current year.
In other The Medicines news, CEO Clive Meanwell sold 10,000 shares of The Medicines stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $35.00, for a total transaction of $350,000.00. Following the transaction, the chief executive officer now directly owns 348,790 shares of the company’s stock, valued at approximately $12,207,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fredric N. Eshelman bought 300,000 shares of the business’s stock in a transaction on Thursday, May 12th. The shares were bought at an average cost of $33.68 per share, for a total transaction of $10,104,000.00. Following the completion of the acquisition, the director now directly owns 300,000 shares in the company, valued at approximately $10,104,000. The disclosure for this purchase can be found here.
Other hedge funds and institutional investors recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of The Medicines by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,895,993 shares of the company’s stock valued at $70,796,000 after buying an additional 105,865 shares during the last quarter. Jennison Associates LLC increased its position in shares of The Medicines by 2.3% in the fourth quarter. Jennison Associates LLC now owns 920,383 shares of the company’s stock worth $34,367,000 after buying an additional 21,068 shares in the last quarter. US Bancorp DE increased its position in shares of The Medicines by 20.1% in the fourth quarter. US Bancorp DE now owns 28,684 shares of the company’s stock worth $1,071,000 after buying an additional 4,794 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of The Medicines during the fourth quarter worth about $4,677,000. Finally, Principal Financial Group Inc. increased its position in shares of The Medicines by 8.5% in the fourth quarter. Principal Financial Group Inc. now owns 468,857 shares of the company’s stock worth $17,507,000 after buying an additional 36,761 shares in the last quarter.
The Medicines Company is a global biopharmaceutical company. The Company’s marketed products include Angiomax (bivalirudin), Cleviprex (clevidipine) injectable emulsion, Ionsys (fentanyl iontophoretic transdermal system), Kengreal (cangrelor), Minocin (minocycline) for injection, and Orbactiv (oritavancin).
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