The Medicines Co. (MDCO) Trading Down 3%
The Medicines Co. (NASDAQ:MDCO) shares traded down 3% during trading on Monday . The company traded as low as $33.57 and last traded at $35.03, with a volume of 390,876 shares changing hands. The stock had previously closed at $36.12.
A number of research analysts recently commented on the stock. Jefferies Group reaffirmed a “buy” rating on shares of The Medicines in a research report on Saturday, May 14th. Leerink Swann reaffirmed a “buy” rating on shares of The Medicines in a research report on Tuesday. Royal Bank Of Canada reaffirmed a “buy” rating on shares of The Medicines in a research report on Tuesday, July 12th. Zacks Investment Research raised shares of The Medicines from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of The Medicines in a research report on Tuesday, July 12th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The Medicines presently has a consensus rating of “Buy” and an average target price of $46.22.
The company has a 50 day moving average of $35.60 and a 200-day moving average of $34.09. The stock’s market capitalization is $2.40 billion.
The Medicines (NASDAQ:MDCO) last posted its earnings results on Monday, May 9th. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by $0.14. The firm had revenue of $50.30 million for the quarter, compared to analyst estimates of $48.96 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The company’s quarterly revenue was down 54.3% on a year-over-year basis. On average, equities analysts expect that The Medicines Co. will post ($4.76) earnings per share for the current fiscal year.
In other news, Director Hiroaki Shigeta sold 3,849 shares of the business’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $38.50, for a total transaction of $148,186.50. Following the transaction, the director now directly owns 23,547 shares of the company’s stock, valued at $906,559.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Christopher T. Cox bought 45,985 shares of The Medicines stock in a transaction dated Friday, June 10th. The shares were purchased at an average cost of $37.90 per share, for a total transaction of $1,742,831.50. Following the completion of the transaction, the executive vice president now owns 33,670 shares of the company’s stock, valued at approximately $1,276,093. The disclosure for this purchase can be found here.
A number of hedge funds recently bought and sold shares of MDCO. State of Tennessee Treasury Department bought a new stake in The Medicines during the fourth quarter valued at about $1,945,000. California State Teachers Retirement System boosted its stake in The Medicines by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 122,695 shares of the company’s stock valued at $4,581,000 after buying an additional 1,835 shares in the last quarter. Rhumbline Advisers boosted its stake in The Medicines by 4.7% in the fourth quarter. Rhumbline Advisers now owns 112,120 shares of the company’s stock valued at $4,187,000 after buying an additional 5,080 shares in the last quarter. Marshall Wace LLP bought a new stake in The Medicines during the fourth quarter valued at about $4,677,000. Finally, First Trust Advisors LP bought a new stake in The Medicines during the fourth quarter valued at about $1,715,000.
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).