Bank of Montreal Can Acquires New Position in The Medicines Co. (MDCO)
Bank of Montreal Can bought a new stake in The Medicines Co. (NASDAQ:MDCO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 186,943 shares of the company’s stock, valued at approximately $6,288,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of The Medicines by 28.3% in the first quarter. BlackRock Inc. now owns 4,554 shares of the company’s stock valued at $145,000 after buying an additional 1,005 shares during the last quarter. HBK Investments L P purchased a new stake in shares of The Medicines during the first quarter valued at approximately $210,000. Wexford Capital LP purchased a new stake in shares of The Medicines during the first quarter valued at approximately $260,000. Nisa Investment Advisors LLC boosted its stake in shares of The Medicines by 50.8% in the second quarter. Nisa Investment Advisors LLC now owns 8,900 shares of the company’s stock valued at $299,000 after buying an additional 3,000 shares during the last quarter. Finally, Pacad Investment Ltd. purchased a new stake in shares of The Medicines during the first quarter valued at approximately $337,000.
The Medicines Co. (NASDAQ:MDCO) traded up 4.01% during trading on Monday, hitting $36.83. The stock had a trading volume of 1,449,505 shares. The firm’s market cap is $2.57 billion. The Medicines Co. has a one year low of $27.50 and a one year high of $43.00. The stock’s 50-day moving average is $38.65 and its 200 day moving average is $36.24.
The Medicines (NASDAQ:MDCO) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.16) by $0.54. The firm earned $54.70 million during the quarter, compared to analysts’ expectations of $41.93 million. The Medicines had a negative return on equity of 34.20% and a negative net margin of 90.33%. The Medicines’s revenue was down 26.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.65) earnings per share. Equities analysts anticipate that The Medicines Co. will post ($1.36) earnings per share for the current year.
Several analysts recently commented on the company. Royal Bank Of Canada reiterated a “buy” rating on shares of The Medicines in a research report on Tuesday, July 12th. Citigroup Inc. reiterated a “hold” rating on shares of The Medicines in a research report on Tuesday, August 2nd. Cowen and Company reiterated a “buy” rating and set a $45.00 price target on shares of The Medicines in a research report on Friday, August 5th. Leerink Swann restated a “buy” rating on shares of The Medicines in a report on Tuesday, July 19th. Finally, Bank of America Corp. restated a “buy” rating on shares of The Medicines in a report on Tuesday, July 12th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $47.33.
In related news, CEO Clive Meanwell sold 1,377 shares of The Medicines stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $40.00, for a total transaction of $55,080.00. Following the completion of the transaction, the chief executive officer now directly owns 339,168 shares of the company’s stock, valued at $13,566,720. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.90% of the company’s stock.
The Medicines Company Profile
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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