Dimensional Fund Advisors LP reduced its stake in The Medicines Co. (NASDAQ:MDCO) by 15.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,564,784 shares of the company’s stock after selling 284,813 shares during the period. Dimensional Fund Advisors LP owned approximately 2.24% of The Medicines worth $52,624,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in MDCO. BlackRock Inc. boosted its stake in shares of The Medicines by 28.3% in the first quarter. BlackRock Inc. now owns 4,554 shares of the company’s stock valued at $145,000 after buying an additional 1,005 shares during the last quarter. Strs Ohio boosted its stake in shares of The Medicines by 22.4% in the second quarter. Strs Ohio now owns 6,000 shares of the company’s stock valued at $201,000 after buying an additional 1,100 shares during the last quarter. HBK Investments L P acquired a new stake in shares of The Medicines during the first quarter valued at $210,000. Emerald Acquisition Ltd. acquired a new stake in shares of The Medicines during the second quarter valued at $258,000. Finally, Wexford Capital LP acquired a new stake in shares of The Medicines during the first quarter valued at $260,000.
Shares of The Medicines Co. (NASDAQ:MDCO) traded up 0.23% on Friday, reaching $35.41. 2,048,424 shares of the company’s stock were exchanged. The firm’s market capitalization is $2.47 billion. The Medicines Co. has a one year low of $27.50 and a one year high of $43.00. The firm has a 50 day moving average of $38.65 and a 200 day moving average of $36.24.
The Medicines (NASDAQ:MDCO) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.62) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.16) by $0.54. The Medicines had a negative net margin of 90.33% and a negative return on equity of 34.20%. The business earned $54.70 million during the quarter, compared to analyst estimates of $41.93 million. During the same quarter last year, the firm posted ($0.65) earnings per share. The business’s revenue for the quarter was down 26.5% compared to the same quarter last year. On average, equities research analysts predict that The Medicines Co. will post ($1.36) EPS for the current year.
Several equities research analysts have recently weighed in on the stock. Leerink Swann reaffirmed an “outperform” rating on shares of The Medicines in a research report on Saturday. Zacks Investment Research raised shares of The Medicines from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of The Medicines in a research report on Tuesday, July 12th. Jefferies Group reaffirmed a “buy” rating and issued a $43.00 price target on shares of The Medicines in a research report on Friday. Finally, Citigroup Inc. reaffirmed a “hold” rating on shares of The Medicines in a research report on Tuesday, August 2nd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $47.33.
In other news, CEO Clive Meanwell sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $40.00, for a total value of $800,000.00. Following the completion of the transaction, the chief executive officer now owns 358,790 shares of the company’s stock, valued at $14,351,600. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Hiroaki Shigeta sold 3,849 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $38.50, for a total transaction of $148,186.50. Following the completion of the transaction, the director now directly owns 23,547 shares of the company’s stock, valued at approximately $906,559.50. The disclosure for this sale can be found here. 7.90% of the stock is currently owned by insiders.
The Medicines Company Profile
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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