The Medicines Co. (MDCO) Stock Price Up 3.6%
Shares of The Medicines Co. (NASDAQ:MDCO) were up 3.6% during mid-day trading on Wednesday . The company traded as high as $34.91 and last traded at $34.86, with a volume of 247,711 shares traded. The stock had previously closed at $33.64.
A number of analysts recently issued reports on MDCO shares. Zacks Investment Research upgraded shares of The Medicines from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Friday, March 18th. Chardan Capital lifted their price target on shares of The Medicines from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, March 21st. Oppenheimer Holdings Inc. restated a “hold” rating on shares of The Medicines in a research note on Thursday, March 24th. JPMorgan Chase & Co. restated a “buy” rating on shares of The Medicines in a research note on Thursday, March 31st. Finally, Leerink Swann restated a “buy” rating and issued a $53.00 price target on shares of The Medicines in a research note on Friday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $46.22.
The stock’s market capitalization is $2.38 billion. The stock’s 50-day moving average is $35.87 and its 200 day moving average is $34.15.
The Medicines (NASDAQ:MDCO) last posted its quarterly earnings data on Monday, May 9th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.89) by $0.14. The firm earned $50.30 million during the quarter, compared to the consensus estimate of $48.96 million. During the same period last year, the company earned $0.08 earnings per share. The company’s revenue for the quarter was down 54.3% compared to the same quarter last year. On average, analysts expect that The Medicines Co. will post ($4.76) EPS for the current year.
In other news, CEO Clive Meanwell sold 10,000 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $35.00, for a total value of $350,000.00. Following the completion of the sale, the chief executive officer now directly owns 348,790 shares of the company’s stock, valued at $12,207,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fredric N. Eshelman acquired 300,000 shares of The Medicines stock in a transaction dated Thursday, May 12th. The stock was acquired at an average cost of $33.68 per share, with a total value of $10,104,000.00. Following the completion of the transaction, the director now directly owns 300,000 shares of the company’s stock, valued at approximately $10,104,000. The disclosure for this purchase can be found here.
Several large investors have bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in 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 in the last quarter. Jennison Associates LLC raised 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 during the last quarter. US Bancorp DE raised 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 during the last quarter. Marshall Wace LLP purchased a new position in shares of The Medicines during the fourth quarter worth approximately $4,677,000. Finally, Principal Financial Group Inc. raised 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 during 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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