The Medicines’ (MDCO) “Outperform” Rating Reaffirmed at Leerink Swann
A number of other equities analysts also recently weighed in on MDCO. Zacks Investment Research raised shares of The Medicines from a sell rating to a hold rating in a report on Tuesday, July 12th. Royal Bank Of Canada restated a buy rating on shares of The Medicines in a research note on Tuesday, July 12th. Jefferies Group restated a buy rating and issued a $43.00 price objective on shares of The Medicines in a research note on Friday. Citigroup Inc. restated a hold rating on shares of The Medicines in a research note on Tuesday, August 2nd. Finally, Guggenheim restated a buy rating and issued a $55.00 price objective on shares of The Medicines in a research note on Monday, August 15th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $47.33.
Shares of The Medicines (NASDAQ:MDCO) opened at 35.41 on Friday. The firm’s market capitalization is $2.47 billion. The stock has a 50 day moving average of $38.65 and a 200-day moving average of $36.24. The Medicines has a 1-year low of $27.50 and a 1-year high of $43.00.
The Medicines (NASDAQ:MDCO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.62) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.16) by $0.54. The company had revenue of $54.70 million for the quarter, compared to the consensus estimate of $41.93 million. The Medicines had a negative net margin of 90.33% and a negative return on equity of 34.20%. The firm’s quarterly revenue was down 26.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.65) EPS. On average, equities analysts expect that The Medicines will post ($1.36) earnings per share for the current year.
In related news, CEO Clive Meanwell sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $40.00, for a total value of $800,000.00. Following the transaction, the chief executive officer now directly owns 358,790 shares in the company, valued at $14,351,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Hiroaki Shigeta sold 3,849 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $38.50, for a total transaction of $148,186.50. Following the completion of the transaction, the director now owns 23,547 shares in the company, valued at $906,559.50. The disclosure for this sale can be found here. Insiders own 7.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aperio Group LLC boosted its position in The Medicines by 7.5% in the first quarter. Aperio Group LLC now owns 19,480 shares of the company’s stock valued at $619,000 after buying an additional 1,361 shares during the period. Pacad Investment Ltd. bought a new position in The Medicines during the first quarter valued at $337,000. Prudential Financial Inc. boosted its position in The Medicines by 5.4% in the first quarter. Prudential Financial Inc. now owns 169,550 shares of the company’s stock valued at $5,387,000 after buying an additional 8,638 shares during the period. Franklin Resources Inc. boosted its position in The Medicines by 2.2% in the first quarter. Franklin Resources Inc. now owns 1,477,054 shares of the company’s stock valued at $46,926,000 after buying an additional 32,100 shares during the period. Finally, BlackRock Inc. boosted its position in The Medicines by 28.3% in the first quarter. BlackRock Inc. now owns 4,554 shares of the company’s stock valued at $145,000 after buying an additional 1,005 shares during the period.
About The Medicines
The Medicines Company is a global biopharmaceutical company. The Company’s marketed products include Angiomax (bivalirudin), Cleviprex (clevidipine) injectable emulsion, Ionsys (fentanyl iontophoretic transdermal system), Kengreal (cangrelor), Minocin (minocycline) for injection, and Orbactiv (oritavancin).
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