The Medicines Co. (NASDAQ:MDCO) was down 3.6% during mid-day trading on Wednesday . The stock traded as low as $38.14 and last traded at $38.68, with a volume of 907,798 shares trading hands. The stock had previously closed at $40.14.

Several equities research analysts have recently issued reports on MDCO shares. Cowen and Company reaffirmed a “buy” rating on shares of The Medicines in a research report on Tuesday, May 10th. Jefferies Group reiterated a “buy” rating and issued a $44.00 target price on shares of The Medicines in a research note on Friday, May 6th. Royal Bank Of Canada reiterated a “buy” rating on shares of The Medicines in a research note on Tuesday, July 12th. Leerink Swann reiterated a “buy” rating and issued a $53.00 target price on shares of The Medicines in a research note on Thursday, June 23rd. Finally, Chardan Capital reiterated a “buy” rating on shares of The Medicines in a research note on Thursday, June 2nd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The Medicines has a consensus rating of “Buy” and a consensus price target of $47.33.

The firm’s market capitalization is $2.64 billion. The company has a 50-day moving average price of $37.63 and a 200 day moving average price of $35.16.

The Medicines (NASDAQ:MDCO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.54. The business had revenue of $54.70 million for the quarter, compared to the consensus estimate of $41.93 million. The firm’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.65) EPS. On average, equities analysts expect that The Medicines Co. will post ($1.36) EPS for the current year.

In other news, EVP Christopher T. Cox bought 53,340 shares of the business’s stock in a transaction dated Tuesday, June 7th. The stock was bought at an average price of $37.55 per share, for a total transaction of $2,002,917.00. Following the completion of the purchase, the executive vice president now owns 20,800 shares of the company’s stock, valued at approximately $781,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 shares were 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 owns 358,790 shares of the company’s stock, valued at approximately $14,351,600. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in The Medicines stock. Bank of Montreal Can increased its position in shares of The Medicines Co. (NASDAQ:MDCO) by 29.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 0.44% of The Medicines worth $11,108,000 as of its most recent SEC filing.

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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