Zacks: Analysts Anticipate The Medicines Company (MDCO) to Announce -$1.58 EPS
Analysts expect that The Medicines Company (NASDAQ:MDCO) will announce ($1.58) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for The Medicines’ earnings, with estimates ranging from ($1.79) to ($1.36). The Medicines posted earnings per share of ($1.23) in the same quarter last year, which would suggest a negative year-over-year growth rate of 28.5%. The business is expected to report its next earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that The Medicines will report full year earnings of ($9.87) per share for the current fiscal year, with EPS estimates ranging from ($10.01) to ($9.72). For the next year, analysts forecast that the company will post earnings of ($4.19) per share, with EPS estimates ranging from ($4.83) to ($3.55). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow The Medicines.
The Medicines (NASDAQ:MDCO) last announced its quarterly earnings data on Wednesday, August 9th. The company reported ($5.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.29) by ($4.23). The company had revenue of $18.74 million during the quarter, compared to analyst estimates of $29.64 million. The Medicines had a negative return on equity of 137.20% and a negative net margin of 670.46%. The company’s revenue was down 65.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.62) EPS.
A number of research firms recently weighed in on MDCO. Cowen and Company restated a “buy” rating and issued a $54.00 price target (down previously from $61.00) on shares of The Medicines in a research note on Thursday, August 10th. TheStreet lowered The Medicines from a “c-” rating to a “d” rating in a report on Wednesday, August 9th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $54.00 price objective (down from $62.00) on shares of The Medicines in a report on Thursday, August 10th. Oppenheimer Holdings, Inc. set a $50.00 price objective on The Medicines and gave the company a “hold” rating in a report on Thursday, August 17th. Finally, Zacks Investment Research raised The Medicines from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $54.00.
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Shares of The Medicines (NASDAQ:MDCO) traded up 0.45% during midday trading on Friday, hitting $33.16. 2,983,254 shares of the stock traded hands. The Medicines has a 12-month low of $30.80 and a 12-month high of $55.95. The company’s market capitalization is $2.38 billion. The firm’s 50 day moving average price is $36.40 and its 200 day moving average price is $42.85.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan grew its holdings in shares of The Medicines by 0.3% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 15,850 shares of the company’s stock worth $775,000 after purchasing an additional 50 shares in the last quarter. US Bancorp DE grew its holdings in shares of The Medicines by 1.7% during the 1st quarter. US Bancorp DE now owns 3,413 shares of the company’s stock worth $167,000 after purchasing an additional 58 shares in the last quarter. First Mercantile Trust Co. grew its holdings in shares of The Medicines by 2.5% during the 2nd quarter. First Mercantile Trust Co. now owns 4,767 shares of the company’s stock worth $181,000 after purchasing an additional 114 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of The Medicines by 5.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,496 shares of the company’s stock worth $122,000 after purchasing an additional 120 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of The Medicines by 0.6% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 39,599 shares of the company’s stock worth $1,505,000 after purchasing an additional 219 shares in the last quarter.
About The Medicines
The Medicines Company is a global biopharmaceutical company. The Company is focused on advancing the treatment of acute and intensive care patients through the delivery of medicines to the hospital marketplace around the world. It markets Angiomax (bivalirudin), Ionsys (fentanyl iontophoretic transdermal system), Minocin (minocycline) for injection and Orbactiv (oritavancin).
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