The Medicines (MDCO) Stock Rating Upgraded by ValuEngine
The Medicines (NASDAQ:MDCO) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Friday.
Several other analysts have also commented on MDCO. 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. Cowen reissued a “buy” rating and issued a $54.00 price objective (down from $61.00) on shares of The Medicines in a report on Thursday, August 10th. Jefferies Group reissued 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. TheStreet lowered The Medicines from a “c-” rating to a “d” rating in a research note on Wednesday, August 9th. Finally, Citigroup lowered their price target on The Medicines from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. The Medicines currently has a consensus rating of “Buy” and an average price target of $53.67.
Shares of The Medicines (MDCO) opened at $28.50 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.31 and a debt-to-equity ratio of 3.42. The Medicines has a 1-year low of $27.77 and a 1-year high of $55.95.
The Medicines (NASDAQ:MDCO) last issued its quarterly earnings data on Wednesday, October 25th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.95. The Medicines had a negative return on equity of 174.68% and a negative net margin of 767.94%. The company had revenue of $16.87 million for the quarter, compared to analyst estimates of $26.06 million. During the same period last year, the company earned ($0.64) earnings per share. The Medicines’s quarterly revenue was down 55.1% compared to the same quarter last year. equities research analysts predict that The Medicines will post -8.84 EPS for the current year.
In other news, Director Alexander J. Denner purchased 170,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were purchased at an average cost of $30.03 per share, with a total value of $5,105,100.00. Following the completion of the purchase, the director now directly owns 6,663 shares of the company’s stock, valued at approximately $200,089.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 8.22% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in The Medicines by 1.1% during the second quarter. FMR LLC now owns 10,825,038 shares of the company’s stock worth $411,460,000 after buying an additional 117,982 shares during the last quarter. Iridian Asset Management LLC CT boosted its stake in The Medicines by 21.7% during the second quarter. Iridian Asset Management LLC CT now owns 3,677,746 shares of the company’s stock worth $139,791,000 after buying an additional 655,065 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in The Medicines by 21.9% during the third quarter. Westfield Capital Management Co. LP now owns 2,476,778 shares of the company’s stock worth $91,740,000 after buying an additional 445,419 shares during the last quarter. State Street Corp boosted its stake in The Medicines by 9.0% during the second quarter. State Street Corp now owns 2,220,199 shares of the company’s stock worth $84,391,000 after buying an additional 183,086 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in The Medicines by 24.1% during the second quarter. Franklin Resources Inc. now owns 1,765,169 shares of the company’s stock worth $67,093,000 after buying an additional 343,160 shares during the last quarter.
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The Medicines Company Profile
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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