LS Investment Advisors LLC cut its position in Medivation Inc. (NASDAQ:MDVN) by 25.5% during the second quarter, Holdings Channel reports. The fund owned 2,421 shares of the biopharmaceutical company’s stock after selling 827 shares during the period. LS Investment Advisors LLC’s holdings in Medivation were worth $146,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Scopia Capital Management LP purchased a new position in Medivation during the first quarter worth approximately $128,970,000. ING Groep NV boosted its position in Medivation by 30,642.1% in the first quarter. ING Groep NV now owns 2,459,367 shares of the biopharmaceutical company’s stock worth $113,057,000 after buying an additional 2,451,367 shares in the last quarter. Consonance Capital Management LP purchased a new position in Medivation during the first quarter worth approximately $62,073,000. Norges Bank purchased a new position in Medivation during the fourth quarter worth approximately $52,772,000. Finally, Brookside Capital Management LLC boosted its position in Medivation by 36.8% in the first quarter. Brookside Capital Management LLC now owns 1,518,063 shares of the biopharmaceutical company’s stock worth $69,801,000 after buying an additional 408,371 shares in the last quarter. 87.55% of the stock is owned by institutional investors and hedge funds.
Medivation Inc. (NASDAQ:MDVN) remained flat at $81.44 during mid-day trading on Friday. Medivation Inc. has a 52 week low of $26.41 and a 52 week high of $81.48. The company’s market cap is $13.51 billion. The firm’s 50 day moving average price is $77.41 and its 200 day moving average price is $61.39.
Medivation (NASDAQ:MDVN) last posted its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Medivation had a negative net margin of 17.24% and a positive return on equity of 17.57%. The business earned $206 million during the quarter, compared to analyst estimates of $214.52 million. During the same quarter last year, the firm posted $0.58 earnings per share. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, analysts anticipate that Medivation Inc. will post $1.27 EPS for the current year.
A number of equities analysts recently commented on the stock. Cowen and Company reaffirmed a “hold” rating on shares of Medivation in a research note on Wednesday. Canaccord Genuity reaffirmed a “buy” rating on shares of Medivation in a research note on Wednesday. SunTrust Banks Inc. reaffirmed a “neutral” rating on shares of Medivation in a research note on Wednesday, September 14th. Vetr raised shares of Medivation from a “sell” rating to a “hold” rating and set a $79.09 price target for the company in a research note on Tuesday, August 23rd. Finally, Maxim Group set a $76.00 price target on shares of Medivation and gave the stock a “buy” rating in a research note on Monday, August 22nd. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and four have given a buy rating to the stock. Medivation currently has an average rating of “Hold” and a consensus price target of $73.80.
Medivation Company Profile
Medivation, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of therapies to treat serious diseases for which there are limited treatment options. The Company, in collaboration with Astellas Pharma, Inc (Astellas), has one commercial product, XTANDI (enzalutamide) capsules (XTANDI).
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