FY2021 EPS Estimates for The Medicines Company (MDCO) Lifted by Oppenheimer
The Medicines Company (NASDAQ:MDCO) – Equities research analysts at Oppenheimer upped their FY2021 earnings estimates for shares of The Medicines in a note issued to investors on Wednesday. Oppenheimer analyst J. Olson now expects that the company will earn $0.83 per share for the year, up from their previous forecast of $0.70. Oppenheimer currently has a “Buy” rating and a $50.00 target price on the stock.
A number of other brokerages have also recently commented on MDCO. Cowen reiterated a “buy” rating and set a $54.00 price target (down from $61.00) on shares of The Medicines in a research report on Thursday, August 10th. TheStreet cut shares of The Medicines from a “c-” rating to a “d” rating in a research report on Wednesday, August 9th. Citigroup reduced their price target 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. Jefferies Group reiterated a “buy” rating and set a $54.00 price target on shares of The Medicines in a research report on Thursday, September 14th. Finally, Chardan Capital reiterated a “buy” rating and set a $85.00 price target (up from $80.00) on shares of The Medicines in a research report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. The Medicines presently has an average rating of “Buy” and an average price target of $53.67.
The Medicines (NASDAQ:MDCO) last issued its quarterly earnings results on Wednesday, October 25th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.95. The Medicines had a negative net margin of 767.94% and a negative return on equity of 174.68%. The business had revenue of $16.87 million for the quarter, compared to analysts’ expectations of $26.06 million. During the same period last year, the business earned ($0.64) earnings per share. The business’s quarterly revenue was down 55.1% on a year-over-year basis.
Several institutional investors have recently modified their holdings of the company. FMR LLC grew its holdings in shares of The Medicines by 1.1% in the second quarter. FMR LLC now owns 10,825,038 shares of the company’s stock worth $411,460,000 after purchasing an additional 117,982 shares during the last quarter. Iridian Asset Management LLC CT grew its holdings in shares of The Medicines by 21.7% in the second quarter. Iridian Asset Management LLC CT now owns 3,677,746 shares of the company’s stock worth $139,791,000 after purchasing an additional 655,065 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of The Medicines by 21.9% in the third quarter. Westfield Capital Management Co. LP now owns 2,476,778 shares of the company’s stock worth $91,740,000 after purchasing an additional 445,419 shares during the last quarter. State Street Corp grew its holdings in shares of The Medicines by 9.0% in the second quarter. State Street Corp now owns 2,220,199 shares of the company’s stock worth $84,391,000 after purchasing an additional 183,086 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of The Medicines by 24.1% in the second quarter. Franklin Resources Inc. now owns 1,765,169 shares of the company’s stock worth $67,093,000 after purchasing an additional 343,160 shares during the last quarter.
In other news, Director Alexander J. Denner bought 170,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were purchased at an average price of $30.03 per share, for a total transaction of $5,105,100.00. Following the completion of the acquisition, the director now owns 6,663 shares of the company’s stock, valued at $200,089.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.22% of the stock is currently owned by company insiders.
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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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