Q1 2018 Earnings Estimate for The Medicines Company (MDCO) Issued By Oppenheimer
The Medicines Company (NASDAQ:MDCO) – Research analysts at Oppenheimer dropped their Q1 2018 EPS estimates for shares of The Medicines in a report issued on Monday. Oppenheimer analyst J. Olson now expects that the company will post earnings per share of ($0.64) for the quarter, down from their prior estimate of ($0.55). Oppenheimer currently has a “Buy” rating and a $50.00 target price on the stock. Oppenheimer also issued estimates for The Medicines’ Q2 2018 earnings at ($0.63) EPS, Q3 2018 earnings at ($0.44) EPS, Q4 2018 earnings at ($0.45) EPS, FY2018 earnings at ($2.10) EPS, FY2019 earnings at ($2.20) EPS, FY2020 earnings at ($2.48) EPS, FY2021 earnings at ($1.44) EPS and FY2022 earnings at $0.93 EPS.
Several other research firms have also recently commented on MDCO. Citigroup upgraded shares of The Medicines from a “sell” rating to an “outperform” rating in a research report on Thursday, November 30th. ValuEngine upgraded shares of The Medicines from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research cut shares of The Medicines from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $45.00 target price on shares of The Medicines in a research report on Wednesday, January 24th. Finally, Chardan Capital restated a “buy” rating and issued a $85.00 target price on shares of The Medicines in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. The Medicines presently has a consensus rating of “Buy” and an average target price of $51.00.
The Medicines (NASDAQ:MDCO) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($2.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.71). The Medicines had a negative net margin of 1,035.27% and a negative return on equity of 316.40%. The business had revenue of $8.60 million for the quarter, compared to the consensus estimate of $20.71 million. During the same period in the prior year, the company earned ($1.19) EPS. The Medicines’s quarterly revenue was down 50.6% on a year-over-year basis.
In other The Medicines news, CEO Clive Meanwell sold 136,250 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $27.24, for a total value of $3,711,450.00. Following the completion of the transaction, the chief executive officer now owns 587,652 shares in the company, valued at approximately $16,007,640.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.22% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of MDCO. Slate Path Capital LP lifted its stake in shares of The Medicines by 55.9% in the 4th quarter. Slate Path Capital LP now owns 1,730,000 shares of the company’s stock worth $47,298,000 after acquiring an additional 620,000 shares during the period. Carillon Tower Advisers Inc. acquired a new stake in shares of The Medicines in the 4th quarter worth approximately $15,278,000. Westfield Capital Management Co. LP lifted its stake in shares of The Medicines by 21.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,476,778 shares of the company’s stock worth $91,740,000 after acquiring an additional 445,419 shares during the period. Iridian Asset Management LLC CT lifted its stake in shares of The Medicines by 23.2% in the 4th quarter. Iridian Asset Management LLC CT now owns 2,170,215 shares of the company’s stock worth $59,334,000 after acquiring an additional 408,177 shares during the period. Finally, Broadfin Capital LLC acquired a new stake in shares of The Medicines in the 4th quarter worth approximately $10,015,000.
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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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