The Medicines Co. (MDCO) Stock Price Up 2.6%
The Medicines Co. (NASDAQ:MDCO) rose 2.6% during trading on Friday . The stock traded as high as $40.25 and last traded at $39.81, with a volume of 1,096,544 shares changing hands. The stock had previously closed at $38.81.
MDCO has been the subject of several recent research reports. Zacks Investment Research cut The Medicines from a “hold” rating to a “sell” rating in a research note on Friday, May 13th. Guggenheim reissued a “buy” rating and issued a $55.00 price target on shares of The Medicines in a research note on Monday, August 15th. Chardan Capital reissued a “buy” rating on shares of The Medicines in a research note on Thursday, June 2nd. Jefferies Group reissued a “buy” rating and issued a $44.00 price target on shares of The Medicines in a research note on Friday, May 6th. Finally, Cowen and Company initiated coverage on The Medicines in a research note on Thursday, May 5th. They issued an “outperform” rating and a $45.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $47.33.
The stock has a 50 day moving average price of $37.25 and a 200 day moving average price of $34.89. The company’s market capitalization is $2.78 billion.
The Medicines (NASDAQ:MDCO) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.62) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.16) by $0.54. During the same period in the prior year, the business earned ($0.65) EPS. The business had revenue of $54.70 million for the quarter, compared to analyst estimates of $41.93 million. The company’s revenue for the quarter was down 26.5% compared to the same quarter last year. Equities analysts forecast that The Medicines Co. will post ($1.36) EPS for the current fiscal year.
In other news, CEO Clive Meanwell sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $40.00, for a total transaction of $800,000.00. Following the sale, the chief executive officer now owns 358,790 shares of the company’s stock, valued at $14,351,600. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Hiroaki Shigeta sold 3,849 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $38.50, for a total value of $148,186.50. Following the sale, the director now directly owns 23,547 shares in the company, valued at approximately $906,559.50. The disclosure for this sale can be found here.
Several large investors have added to or reduced their stakes in MDCO. US Bancorp DE raised its stake in 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. New York State Common Retirement Fund raised its stake in The Medicines by 13.2% in the fourth quarter. New York State Common Retirement Fund now owns 70,394 shares of the company’s stock worth $2,629,000 after buying an additional 8,194 shares in the last quarter. Bank of Montreal Can raised its stake in The Medicines by 29.4% in the fourth quarter. Bank of Montreal Can now owns 297,492 shares of the company’s stock worth $11,108,000 after buying an additional 67,616 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in 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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