State of Tennessee Treasury Department Has $2,089,000 Position in The Medicines Company (MDCO)
State of Tennessee Treasury Department held its stake in The Medicines Company (NASDAQ:MDCO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,365 shares of the company’s stock at the end of the third quarter. State of Tennessee Treasury Department owned 0.08% of The Medicines Company worth $2,089,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its stake in shares of The Medicines Company by 50.8% in the second quarter. Nisa Investment Advisors LLC now owns 8,900 shares of the company’s stock worth $299,000 after buying an additional 3,000 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of The Medicines Company during the second quarter worth $6,288,000. Louisiana State Employees Retirement System increased its stake in shares of The Medicines Company by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the company’s stock worth $1,036,000 after buying an additional 100 shares during the last quarter. Whittier Trust Co. increased its stake in shares of The Medicines Company by 1.2% in the second quarter. Whittier Trust Co. now owns 23,718 shares of the company’s stock worth $798,000 after buying an additional 288 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of The Medicines Company during the second quarter worth $258,000.
Shares of The Medicines Company (NASDAQ:MDCO) traded up 4.90% during trading on Friday, reaching $38.12. 1,799,891 shares of the company traded hands. The Medicines Company has a 12-month low of $27.50 and a 12-month high of $41.79. The firm’s 50 day moving average is $35.33 and its 200-day moving average is $36.37. The stock’s market capitalization is $2.68 billion.
The Medicines Company (NASDAQ:MDCO) last announced its quarterly earnings data on Wednesday, October 26th. The company reported ($0.64) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.30) by $0.66. The business had revenue of $37.60 million for the quarter, compared to analysts’ expectations of $37.26 million. The Medicines Company had a negative net margin of 96.44% and a negative return on equity of 35.07%. The business’s revenue was down 34.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.82) earnings per share. On average, equities research analysts anticipate that The Medicines Company will post ($1.39) earnings per share for the current fiscal year.
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MDCO has been the subject of a number of recent analyst reports. J P Morgan Chase & Co reiterated a “buy” rating on shares of The Medicines Company in a report on Thursday, October 6th. Jefferies Group reiterated a “buy” rating and set a $43.00 price target on shares of The Medicines Company in a report on Friday, October 7th. Leerink Swann reiterated an “outperform” rating on shares of The Medicines Company in a report on Saturday, October 8th. Zacks Investment Research upgraded The Medicines Company from a “sell” rating to a “hold” rating in a report on Tuesday, October 25th. Finally, Royal Bank Of Canada decreased their price target on The Medicines Company from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Tuesday, November 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $51.40.
In other The Medicines Company news, EVP Christopher T. Cox acquired 105,500 shares of the business’s stock in a transaction on Thursday, December 8th. The shares were acquired at an average price of $33.20 per share, for a total transaction of $3,502,600.00. Following the completion of the acquisition, the executive vice president now owns 33,670 shares in the company, valued at $1,117,844. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Fredric N. Eshelman acquired 621,720 shares of the business’s stock in a transaction on Thursday, December 8th. The stock was acquired at an average price of $33.77 per share, for a total transaction of $20,995,484.40. Following the acquisition, the director now owns 641,106 shares of the company’s stock, valued at approximately $21,650,149.62. The disclosure for this purchase can be found here. 7.90% of the stock is currently owned by company insiders.
About The Medicines Company
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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