The Medicines Co. (MDCO) Shares Down 3.6%
The Medicines Co. (NASDAQ:MDCO) shares fell 3.6% on Wednesday . The stock traded as low as $38.14 and last traded at $38.68, with a volume of 907,798 shares. The stock had previously closed at $40.14.
Several brokerages have weighed in on MDCO. Zacks Investment Research upgraded shares of The Medicines from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Citigroup Inc. reaffirmed a “hold” rating on shares of The Medicines in a report on Tuesday, August 2nd. Cowen and Company reaffirmed a “buy” rating and issued a $45.00 price target on shares of The Medicines in a report on Friday, August 5th. Chardan Capital reaffirmed a “buy” rating on shares of The Medicines in a report on Thursday, June 2nd. Finally, Guggenheim reaffirmed a “buy” rating and issued a $55.00 price target on shares of The Medicines in a report on Monday, August 15th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $47.33.
The stock’s 50-day moving average is $37.51 and its 200 day moving average is $35.13. The stock’s market cap is $2.73 billion.
The Medicines (NASDAQ:MDCO) last released its earnings results on Wednesday, July 27th. The company reported ($0.62) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.16) by $0.54. During the same period in the previous year, the business posted ($0.65) EPS. The company had revenue of $54.70 million for the quarter, compared to analyst estimates of $41.93 million. The firm’s quarterly revenue was down 26.5% on a year-over-year basis. On average, analysts forecast that The Medicines Co. will post ($1.36) EPS for the current fiscal year.
In other The Medicines news, EVP Christopher T. Cox acquired 53,340 shares of the stock in a transaction dated Tuesday, June 7th. The shares were bought at an average price of $37.55 per share, with a total value of $2,002,917.00. Following the purchase, the executive vice president now directly owns 20,800 shares of the company’s stock, valued at approximately $781,040. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Clive Meanwell sold 20,000 shares of The Medicines stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $40.00, for a total transaction of $800,000.00. Following the completion of the transaction, the chief executive officer now directly owns 358,790 shares in the company, valued at approximately $14,351,600. The disclosure for this sale can be found here.
An institutional investor recently raised its position in The Medicines stock. Bank of Montreal Can raised its stake in The Medicines Co. (NASDAQ:MDCO) by 29.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 297,492 shares of the company’s stock after buying an additional 67,616 shares during the period. Bank of Montreal Can owned about 0.44% of The Medicines worth $11,108,000 as of its most recent filing with the SEC.
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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