The Medicines Co. (MDCO) Shares Bought by Macquarie Group Ltd.
Macquarie Group Ltd. increased its position in The Medicines Co. (NASDAQ:MDCO) by 27.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 532,035 shares of the company’s stock after buying an additional 115,218 shares during the period. Macquarie Group Ltd. owned approximately 0.76% of The Medicines worth $17,892,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. Mason Street Advisors LLC bought a new stake in The Medicines during the second quarter worth about $457,000. Schwab Charles Investment Management Inc. increased its stake in 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 last quarter. Amalgamated Bank increased its stake in 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 last quarter. American Century Companies Inc. bought a new stake in The Medicines during the second quarter worth about $1,939,000. Finally, Elk Creek Partners LLC increased its stake in The Medicines by 1.1% in the second quarter. Elk Creek Partners LLC now owns 394,750 shares of the company’s stock worth $13,275,000 after buying an additional 4,241 shares during the last quarter.
The Medicines Co. (NASDAQ:MDCO) traded down 1.33% during mid-day trading on Friday, reaching $37.23. 322,810 shares of the company’s stock traded hands. The firm’s market cap is $2.61 billion. The firm has a 50 day moving average of $35.53 and a 200 day moving average of $36.65. The Medicines Co. has a 1-year low of $27.50 and a 1-year high of $43.00.
The Medicines (NASDAQ:MDCO) last released its quarterly earnings results on Wednesday, October 26th. The company reported ($0.64) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.30) by $0.66. The company earned $37.60 million during the quarter, compared to analysts’ expectations of $37.26 million. The Medicines had a negative net margin of 96.44% and a negative return on equity of 35.07%. The business’s quarterly revenue was down 34.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.82) earnings per share. Analysts forecast that The Medicines Co. will post ($1.41) EPS for the current year.
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A number of research firms have issued reports on MDCO. Guggenheim reiterated a “buy” rating on shares of The Medicines in a research report on Friday, November 18th. Royal Bank Of Canada raised their price target on shares of The Medicines from $45.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, November 16th. RBC Capital Markets raised their price target on shares of The Medicines from $45.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, November 16th. Jefferies Group restated a “buy” rating and set a $43.00 price target on shares of The Medicines in a report on Wednesday, November 16th. Finally, Leerink Swann restated an “outperform” rating and set a $50.00 price target (down previously from $53.00) on shares of The Medicines in a report on Tuesday, November 8th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The Medicines has an average rating of “Buy” and an average target price of $49.78.
In other news, CEO Clive Meanwell sold 8,623 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $40.00, for a total value of $344,920.00. Following the completion of the transaction, the chief executive officer now owns 347,791 shares in the company, valued at $13,911,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.90% of the stock is currently owned by insiders.
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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