Alliancebernstein L.P. Increases Position in The Medicines Company (MDCO)
Alliancebernstein L.P. lifted its position in The Medicines Company (NASDAQ:MDCO) by 1.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,213,668 shares of the company’s stock after purchasing an additional 19,043 shares during the period. Alliancebernstein L.P. owned 1.71% of The Medicines worth $46,132,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MDCO. Nisa Investment Advisors LLC boosted its holdings in shares of The Medicines by 6.5% in the first quarter. Nisa Investment Advisors LLC now owns 9,480 shares of the company’s stock valued at $464,000 after purchasing an additional 580 shares during the period. Strs Ohio boosted its holdings in shares of The Medicines by 81.6% in the first quarter. Strs Ohio now owns 8,900 shares of the company’s stock valued at $435,000 after purchasing an additional 4,000 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of The Medicines by 134.0% in the first quarter. Russell Investments Group Ltd. now owns 23,115 shares of the company’s stock valued at $1,130,000 after purchasing an additional 13,237 shares during the period. Great West Life Assurance Co. Can boosted its holdings in shares of The Medicines by 8.7% in the first quarter. Great West Life Assurance Co. Can now owns 101,034 shares of the company’s stock valued at $4,938,000 after purchasing an additional 8,111 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in shares of The Medicines by 72.5% in the first quarter. Advisors Asset Management Inc. now owns 26,217 shares of the company’s stock valued at $1,282,000 after purchasing an additional 11,018 shares during the period.
Shares of The Medicines Company (MDCO) opened at 33.16 on Friday. The stock’s 50 day moving average price is $36.40 and its 200 day moving average price is $42.85. The stock’s market cap is $2.38 billion. The Medicines Company has a one year low of $30.80 and a one year high of $55.95.
The Medicines (NASDAQ:MDCO) last released its quarterly earnings data 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 for 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 Medicines’s revenue for the quarter was down 65.8% on a year-over-year basis. During the same period last year, the firm posted ($0.62) earnings per share. Analysts forecast that The Medicines Company will post ($9.69) earnings per share for the current year.
A number of analysts recently issued reports on MDCO shares. ValuEngine lowered The Medicines from a “sell” rating to a “strong sell” rating in a report on Saturday, May 20th. Oppenheimer Holdings, Inc. started coverage on The Medicines in a report on Monday, May 22nd. They issued a “market perform” rating and a $50.00 price target for the company. CIBC set a $50.00 price target on The Medicines in a report on Tuesday, May 23rd. Jefferies Group LLC reiterated a “buy” rating and issued a $62.00 price target on shares of The Medicines in a report on Wednesday, June 28th. Finally, Citigroup Inc. lowered their price target on The Medicines from $59.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. The Medicines has an average rating of “Buy” and a consensus price target of $54.00.
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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