The Medicines (MDCO) Raised to “Hold” at ValuEngine
ValuEngine upgraded shares of The Medicines (NASDAQ:MDCO) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.
A number of other research analysts also recently issued reports on MDCO. Citigroup raised shares of The Medicines from a sell rating to an outperform rating in a research report on Thursday, November 30th. Oppenheimer raised shares of The Medicines from a market perform rating to a buy rating and set a $50.00 price objective on the stock in a research report on Wednesday, November 29th. Zacks Investment Research downgraded shares of The Medicines from a hold rating to a sell rating in a research report on Tuesday, December 26th. JPMorgan Chase & Co. reaffirmed an overweight rating and issued a $45.00 price objective on shares of The Medicines in a research report on Wednesday, January 24th. Finally, Chardan Capital reaffirmed a buy rating and issued a $85.00 price objective on shares of The Medicines in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $51.00.
The Medicines (NASDAQ MDCO) traded up $0.67 during midday trading on Thursday, reaching $33.94. 1,226,970 shares of the company’s stock were exchanged, compared to its average volume of 1,780,000. 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 $24.45 and a 1-year high of $55.95. The stock has a market cap of $2,470.00, a P/E ratio of -4.04 and a beta of 0.74.
In related news, insider Fredric N. Eshelman bought 200,000 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was bought at an average cost of $26.56 per share, for a total transaction of $5,312,000.00. Following the purchase, the insider now directly owns 1,028,383 shares of the company’s stock, valued at $27,313,852.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Clive Meanwell sold 136,250 shares of The Medicines stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $27.24, for a total transaction of $3,711,450.00. Following the completion of the sale, the chief executive officer now owns 587,652 shares of the company’s stock, valued at $16,007,640.48. The disclosure for this sale can be found here. 8.22% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Elkfork Partners LLC acquired a new stake in The Medicines in the 4th quarter worth approximately $214,000. Xact Kapitalforvaltning AB acquired a new stake in The Medicines in the 4th quarter worth approximately $218,000. 683 Capital Management LLC acquired a new stake in The Medicines in the 4th quarter worth approximately $1,367,000. MetLife Investment Advisors LLC acquired a new stake in The Medicines in the 4th quarter worth approximately $876,000. Finally, Endurant Capital Management LP acquired a new stake in The Medicines in the 4th quarter worth approximately $1,126,000.
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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).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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