The Medicines Company Expected to Earn Q3 2017 Earnings of ($1.79) Per Share (MDCO)
The Medicines Company (NASDAQ:MDCO) – Stock analysts at Leerink Swann decreased their Q3 2017 earnings per share (EPS) estimates for shares of The Medicines in a note issued to investors on Wednesday. Leerink Swann analyst J. Schwartz now forecasts that the company will earn ($1.79) per share for the quarter, down from their previous forecast of ($1.23). Leerink Swann also issued estimates for The Medicines’ FY2017 earnings at ($10.01) EPS, FY2018 earnings at ($4.83) EPS and FY2019 earnings at ($4.27) EPS.
The Medicines (NASDAQ:MDCO) last released its earnings results on Wednesday, August 9th. The company reported ($5.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.29) by $4.23. The firm had revenue of $18.74 million during the quarter, compared to analysts’ expectations of $29.64 million. The Medicines had a negative return on equity of 137.20% and a negative net margin of 670.46%. The company’s revenue was down 65.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.62) earnings per share.
MDCO has been the subject of a number of other research reports. Oppenheimer Holdings, Inc. assumed coverage on shares of The Medicines in a report on Monday, May 22nd. They set a “market perform” rating and a $50.00 target price for the company. Zacks Investment Research raised shares of The Medicines from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Tuesday, August 8th. Citigroup Inc. lowered their target price on shares of The Medicines from $59.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, July 17th. CIBC set a $50.00 target price on shares of The Medicines in a report on Tuesday, May 23rd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $62.00 target price on shares of The Medicines in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $54.00.
Shares of The Medicines (MDCO) opened at 36.69 on Friday. The company has a 50-day moving average of $37.29 and a 200 day moving average of $44.05. The stock’s market capitalization is $2.64 billion. The Medicines has a 12-month low of $30.80 and a 12-month high of $55.95.
Several institutional investors have recently made changes to their positions in the company. Aviva Holdings Ltd. purchased a new position in shares of The Medicines during the first quarter worth $187,477,000. Iridian Asset Management LLC CT boosted its position in shares of The Medicines by 218.7% in the first quarter. Iridian Asset Management LLC CT now owns 3,022,681 shares of the company’s stock worth $147,809,000 after buying an additional 2,074,261 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of The Medicines by 947.1% in the second quarter. Westfield Capital Management Co. LP now owns 2,031,359 shares of the company’s stock worth $77,212,000 after buying an additional 1,837,359 shares in the last quarter. Blue Ridge Capital L.L.C. purchased a new position in shares of The Medicines during the first quarter worth $53,790,000. Finally, Frontier Capital Management Co. LLC boosted its position in shares of The Medicines by 139.9% in the first quarter. Frontier Capital Management Co. LLC now owns 604,020 shares of the company’s stock worth $29,537,000 after buying an additional 352,230 shares in the last quarter.
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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