Family Management Corp acquired a new stake in The Medicines Company (NASDAQ:MDCO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 21,750 shares of the company’s stock, valued at approximately $798,000.
Other hedge funds have also recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in The Medicines by 1.4% during the first quarter. Rhumbline Advisers now owns 158,499 shares of the company’s stock worth $5,221,000 after purchasing an additional 2,139 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in The Medicines by 26.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 39,900 shares of the company’s stock worth $1,332,000 after buying an additional 8,400 shares during the period. Prudential Financial Inc. increased its position in The Medicines by 2.5% during the first quarter. Prudential Financial Inc. now owns 109,022 shares of the company’s stock worth $3,591,000 after buying an additional 2,650 shares during the period. Swiss National Bank increased its position in The Medicines by 2.3% during the first quarter. Swiss National Bank now owns 126,550 shares of the company’s stock worth $4,169,000 after buying an additional 2,900 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of The Medicines by 5.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 336,644 shares of the company’s stock valued at $11,090,000 after purchasing an additional 18,182 shares during the period.
NASDAQ MDCO traded down $0.64 during trading hours on Friday, hitting $28.12. 696,998 shares of the company’s stock were exchanged, compared to its average volume of 1,027,277. The Medicines Company has a 12-month low of $24.45 and a 12-month high of $41.57. The company has a market capitalization of $2.21 billion, a PE ratio of -3.35 and a beta of 0.79. The company has a current ratio of 2.60, a quick ratio of 2.55 and a debt-to-equity ratio of 31.23.
The Medicines (NASDAQ:MDCO) last released its earnings results on Wednesday, August 1st. The company reported ($0.70) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.00) by $0.30. The firm had revenue of $1.67 million for the quarter, compared to the consensus estimate of $7.20 million. The Medicines had a negative return on equity of 394.33% and a negative net margin of 668.93%. The firm’s revenue for the quarter was down 84.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.72) earnings per share. Equities analysts predict that The Medicines Company will post -2.52 EPS for the current year.
In other The Medicines news, CEO Clive Meanwell sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $39.31, for a total transaction of $1,965,500.00. Following the completion of the sale, the chief executive officer now directly owns 352,409 shares in the company, valued at $13,853,197.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.29% of the company’s stock.
A number of research analysts have recently issued reports on the company. BidaskClub lowered The Medicines from a “sell” rating to a “strong sell” rating in a report on Friday, September 28th. ValuEngine downgraded The Medicines from a “buy” rating to a “hold” rating in a research report on Monday, September 24th. Oppenheimer set a $50.00 target price on The Medicines and gave the stock a “buy” rating in a research report on Monday, September 24th. Citigroup boosted their target price on The Medicines from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, August 20th. Finally, Zacks Investment Research upgraded The Medicines from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $52.63.
About The Medicines
The Medicines Company, a biopharmaceutical company, provides medicines to treat acute and intensive care patients. The company markets Angiomax, an intravenous direct thrombin inhibitor used as an anticoagulant in combination with aspirin in patients with unstable angina undergoing percutaneous transluminal coronary angioplasty, and for patients undergoing percutaneous coronary intervention in the United States.
Further Reading: Asset Allocation
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