Franklin Resources Inc. Raises Stake in The Medicines Company (MDCO)
Franklin Resources Inc. increased its position in The Medicines Company (NASDAQ:MDCO) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,058,784 shares of the company’s stock after buying an additional 38,905 shares during the period. Franklin Resources Inc. owned 2.82% of The Medicines worth $56,288,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Slate Path Capital LP grew 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 valued at $47,298,000 after buying an additional 620,000 shares during the period. University of Notre Dame DU Lac grew its stake in shares of The Medicines by 62.1% in the 4th quarter. University of Notre Dame DU Lac now owns 312,066 shares of the company’s stock valued at $8,532,000 after buying an additional 119,515 shares during the period. Broadfin Capital LLC acquired a new stake in shares of The Medicines in the 4th quarter valued at about $10,015,000. Carillon Tower Advisers Inc. acquired a new stake in shares of The Medicines in the 4th quarter valued at about $15,278,000. Finally, Virtus Fund Advisers LLC acquired a new stake in shares of The Medicines in the 4th quarter valued at about $963,000.
Several analysts have recently commented on the company. Zacks Investment Research downgraded The Medicines from a “hold” rating to a “sell” rating in a research note 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 note on Wednesday, January 24th. Oppenheimer set a $50.00 target price on The Medicines and gave the company a “buy” rating in a research note on Monday, March 12th. ValuEngine upgraded The Medicines from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Chardan Capital restated a “buy” rating and issued a $85.00 target price on shares of The Medicines in a research note on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $51.00.
The Medicines (NASDAQ:MDCO) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($2.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.71). The company had revenue of $8.60 million for the quarter, compared to analyst estimates of $20.71 million. The Medicines had a negative net margin of 1,035.27% and a negative return on equity of 316.40%. The Medicines’s revenue for the quarter was down 50.6% on a year-over-year basis. During the same quarter last year, the firm posted ($1.19) EPS. equities research analysts expect that The Medicines Company will post -2.71 earnings per share for the current fiscal year.
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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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