State Board of Administration of Florida Retirement System increased its stake in shares of The Medicines Company (NASDAQ:MDCO) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,599 shares of the company’s stock after acquiring an additional 219 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.06% of The Medicines worth $1,505,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MDCO. PNC Financial Services Group Inc. increased its position in The Medicines by 341.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,109 shares of the company’s stock worth $104,000 after acquiring an additional 1,631 shares during the period. Envestnet Asset Management Inc. increased its position in The Medicines by 5.1% during the first quarter. Envestnet Asset Management Inc. now owns 2,496 shares of the company’s stock worth $122,000 after acquiring an additional 120 shares during the period. Neuburgh Advisers LLC increased its position in The Medicines by 12.4% during the first quarter. Neuburgh Advisers LLC now owns 2,596 shares of the company’s stock worth $127,000 after acquiring an additional 286 shares during the period. US Bancorp DE increased its position in The Medicines by 1.7% during the first quarter. US Bancorp DE now owns 3,413 shares of the company’s stock worth $167,000 after acquiring an additional 58 shares during the period. Finally, First Mercantile Trust Co. increased its position in The Medicines by 2.5% during the second quarter. First Mercantile Trust Co. now owns 4,767 shares of the company’s stock worth $181,000 after acquiring an additional 114 shares during the period.

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Shares of The Medicines Company (NASDAQ MDCO) opened at 33.16 on Friday. The Medicines Company has a one year low of $30.80 and a one year high of $55.95. The company’s market cap is $2.38 billion. The firm has a 50-day moving average of $36.40 and a 200 day moving average of $42.85.

The Medicines (NASDAQ:MDCO) last posted its quarterly earnings data on Wednesday, August 9th. The company reported ($5.52) earnings per share for the quarter, missing the consensus estimate of ($1.29) by ($4.23). The firm had revenue of $18.74 million for the quarter, compared to the consensus estimate of $29.64 million. The Medicines had a negative return on equity of 137.20% and a negative net margin of 670.46%. The firm’s quarterly revenue was down 65.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.62) EPS. Equities research analysts anticipate that The Medicines Company will post ($9.69) EPS for the current year.

A number of brokerages recently issued reports on MDCO. ValuEngine lowered shares of The Medicines from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 20th. Citigroup Inc. dropped their target price on shares of The Medicines from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday, August 14th. Cowen and Company reaffirmed a “buy” rating and set a $54.00 target price (down previously from $61.00) on shares of The Medicines in a research report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $54.00 target price on shares of The Medicines in a research report on Thursday. Finally, Oppenheimer Holdings, Inc. began coverage on shares of The Medicines in a research report on Monday, May 22nd. They set a “market perform” rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average 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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Institutional Ownership by Quarter for The Medicines (NASDAQ:MDCO)

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