The Medicines Co. (MDCO) Shares Down 3%
Shares of The Medicines Co. (NASDAQ:MDCO) were down 3% on Monday . The company traded as low as $33.57 and last traded at $35.03, with a volume of 390,876 shares. The stock had previously closed at $36.12.
A number of analysts have recently weighed in on MDCO shares. Leerink Swann restated a “buy” rating and issued a $53.00 target price on shares of The Medicines in a report on Thursday, June 23rd. Bank of America Corp. restated a “buy” rating on shares of The Medicines in a report on Tuesday, July 12th. Chardan Capital upped their price target on shares of The Medicines from $50.00 to $65.00 and gave the company a “buy” rating in a report on Monday, March 21st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of The Medicines in a report on Thursday, March 31st. Finally, Jefferies Group reiterated a “buy” rating and set a $43.00 price target on shares of The Medicines in a report on Wednesday, June 15th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $46.22.
The company’s market cap is $2.43 billion. The company has a 50-day moving average price of $35.70 and a 200 day moving average price of $34.15.
The Medicines (NASDAQ:MDCO) last posted its quarterly earnings results on Monday, May 9th. The company reported ($1.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.89) by $0.14. The firm had revenue of $50.30 million for the quarter, compared to analysts’ expectations of $48.96 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The company’s quarterly revenue was down 54.3% on a year-over-year basis. Analysts anticipate that The Medicines Co. will post ($4.76) earnings per share for the current fiscal year.
In other news, CEO Clive Meanwell sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $35.00, for a total value of $350,000.00. Following the transaction, the chief executive officer now directly owns 348,790 shares of the company’s stock, valued at $12,207,650. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $148,186.50. Following the completion of the transaction, the director now directly owns 23,547 shares in the company, valued at $906,559.50. The disclosure for this sale can be found here.
Other institutional investors have bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in The Medicines by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,895,993 shares of the company’s stock valued at $70,796,000 after buying an additional 105,865 shares in the last quarter. Jennison Associates LLC increased its position in shares of The Medicines by 2.3% in the fourth quarter. Jennison Associates LLC now owns 920,383 shares of the company’s stock worth $34,367,000 after buying an additional 21,068 shares during the period. US Bancorp DE increased its position in shares of 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 during the period. Marshall Wace LLP purchased a new position in shares of The Medicines during the fourth quarter worth approximately $4,677,000. Finally, Principal Financial Group Inc. increased its position in shares of 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 during the period.
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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