Ameriprise Financial Inc. increased its position in The Medicines Co. (NASDAQ:MDCO) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 339,057 shares of the company’s stock after buying an additional 14,662 shares during the period. Ameriprise Financial Inc. owned 0.49% of The Medicines worth $11,402,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of MDCO. Bridger Management LLC acquired a new position in The Medicines during the first quarter worth $98,528,000. Capstone Asset Management Co. boosted its position in The Medicines by 4.5% in the second quarter. Capstone Asset Management Co. now owns 21,699 shares of the company’s stock worth $730,000 after buying an additional 940 shares in the last quarter. BlackRock Inc. boosted its position in The Medicines by 28.3% in the first quarter. BlackRock Inc. now owns 4,554 shares of the company’s stock worth $145,000 after buying an additional 1,005 shares in the last quarter. Pacad Investment Ltd. acquired a new position in The Medicines during the first quarter worth $337,000. Finally, Opus Point Partners Management LLC boosted its position in The Medicines by 62.0% in the first quarter. Opus Point Partners Management LLC now owns 40,500 shares of the company’s stock worth $1,287,000 after buying an additional 15,500 shares in the last quarter.
Shares of The Medicines Co. (NASDAQ:MDCO) traded down 4.81% during trading on Thursday, hitting $38.19. The stock had a trading volume of 455,241 shares. The Medicines Co. has a 12-month low of $27.50 and a 12-month high of $43.00. The stock has a 50-day moving average of $38.60 and a 200 day moving average of $35.96. The firm’s market cap is $2.66 billion.
The Medicines (NASDAQ:MDCO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.62) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.16) by $0.54. The company earned $54.70 million during the quarter, compared to analyst estimates of $41.93 million. The Medicines had a negative return on equity of 34.20% and a negative net margin of 90.33%. The firm’s revenue was down 26.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.65) earnings per share. On average, analysts predict that The Medicines Co. will post ($1.36) earnings per share for the current fiscal year.
MDCO has been the subject of a number of research analyst reports. Guggenheim reiterated a “buy” rating and set a $55.00 price target on shares of The Medicines in a report on Monday, August 15th. Chardan Capital reiterated a “buy” rating on shares of The Medicines in a report on Thursday, June 2nd. Zacks Investment Research upgraded The Medicines from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Jefferies Group reiterated a “buy” rating and set a $43.00 price target on shares of The Medicines in a report on Wednesday, August 31st. Finally, Leerink Swann reiterated a “buy” rating and set a $53.00 price target on shares of The Medicines in a report on Thursday, June 23rd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The Medicines presently has a consensus rating of “Buy” and a consensus price target of $47.33.
In other The Medicines news, CEO Clive Meanwell sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $40.00, for a total transaction of $800,000.00. Following the completion of the sale, the chief executive officer now directly owns 358,790 shares in the company, valued at $14,351,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hiroaki Shigeta sold 3,849 shares of the company’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $38.50, for a total value of $148,186.50. Following the sale, the director now owns 23,547 shares of the company’s stock, valued at $906,559.50. The disclosure for this sale can be found here. Company insiders own 7.90% of the company’s stock.
About The Medicines
The Medicines Company is a global biopharmaceutical company. The Company’s marketed products include Angiomax (bivalirudin), Cleviprex (clevidipine) injectable emulsion, Ionsys (fentanyl iontophoretic transdermal system), Kengreal (cangrelor), Minocin (minocycline) for injection, and Orbactiv (oritavancin).
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