The Medicines Co. (MDCO) Receives “Buy” Rating from Jefferies Group
Jefferies Group restated their buy rating on shares of The Medicines Co. (NASDAQ:MDCO) in a research report report published on Friday morning. The brokerage currently has a $43.00 price target on the stock.
A number of other brokerages have also recently commented on MDCO. Zacks Investment Research raised The Medicines from a sell rating to a hold rating in a research note on Monday, August 1st. Citigroup Inc. reaffirmed a hold rating on shares of The Medicines in a research note on Tuesday, August 2nd. JPMorgan Chase & Co. reaffirmed a buy rating on shares of The Medicines in a research note on Thursday. Cowen and Company reaffirmed a buy rating and set a $45.00 price objective on shares of The Medicines in a research note on Friday, August 5th. Finally, Guggenheim reaffirmed a buy rating and set a $55.00 price objective on shares of The Medicines in a research note on Monday, August 15th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The Medicines currently has a consensus rating of Buy and a consensus target price of $47.33.
Shares of The Medicines (NASDAQ:MDCO) traded up 2.94% on Friday, reaching $36.45. The company’s stock had a trading volume of 411,623 shares. The Medicines has a 1-year low of $27.50 and a 1-year high of $43.00. The stock’s market cap is $2.54 billion. The company’s 50 day moving average is $38.65 and its 200-day moving average is $36.24.
The Medicines (NASDAQ:MDCO) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.54. The Medicines had a negative return on equity of 34.20% and a negative net margin of 90.33%. The business earned $54.70 million during the quarter, compared to analysts’ expectations of $41.93 million. During the same period in the previous year, the firm earned ($0.65) earnings per share. The firm’s quarterly revenue was down 26.5% compared to the same quarter last year. On average, equities analysts predict that The Medicines will post ($1.36) earnings per share for the current fiscal year.
In other news, CEO Clive Meanwell sold 1,377 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $40.00, for a total value of $55,080.00. Following the sale, the chief executive officer now directly owns 339,168 shares in the company, valued at $13,566,720. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.90% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. raised its stake in shares of The Medicines by 27.6% in the second quarter. Macquarie Group Ltd. now owns 532,035 shares of the company’s stock worth $17,892,000 after buying an additional 115,218 shares during the period. Mason Street Advisors LLC purchased a new stake in shares of The Medicines during the second quarter worth approximately $457,000. Schwab Charles Investment Management Inc. raised its stake in shares of The Medicines by 6.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 266,333 shares of the company’s stock worth $8,957,000 after buying an additional 17,079 shares during the period. Amalgamated Bank raised its stake in shares of The Medicines by 10.2% in the second quarter. Amalgamated Bank now owns 7,818 shares of the company’s stock worth $289,000 after buying an additional 726 shares during the period. Finally, American Century Companies Inc. purchased a new stake in shares of The Medicines during the second quarter worth approximately $1,939,000.
The Medicines Company Profile
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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