Teacher Retirement System of Texas raised its stake in shares of The Medicines Co. (NASDAQ:MDCO) by 13.8% during the second quarter, Holdings Channel reports. The firm owned 9,701 shares of the company’s stock after buying an additional 1,174 shares during the period. Teacher Retirement System of Texas’ holdings in The Medicines were worth $326,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in 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 period. Strs Ohio increased its position in shares of The Medicines by 22.4% in the second quarter. Strs Ohio now owns 6,000 shares of the company’s stock worth $201,000 after buying an additional 1,100 shares during the last quarter. HBK Investments L P purchased a new position in shares of The Medicines during the first quarter worth approximately $210,000. Emerald Acquisition Ltd. purchased a new position in shares of The Medicines during the second quarter worth approximately $258,000. Finally, Wexford Capital LP purchased a new position in shares of The Medicines during the first quarter worth approximately $260,000.
Shares of The Medicines Co. (NASDAQ:MDCO) opened at 35.9125 on Friday. The Medicines Co. has a 52 week low of $27.50 and a 52 week high of $43.00. The firm’s market capitalization is $2.50 billion. The company has a 50-day moving average of $38.37 and a 200-day moving average of $36.34.
The Medicines (NASDAQ:MDCO) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.54. The firm earned $54.70 million during the quarter, compared to the consensus estimate of $41.93 million. The Medicines had a negative net margin of 90.33% and a negative return on equity of 34.20%. The firm’s revenue was down 26.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.65) earnings per share. On average, equities analysts forecast 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 analyst reports. Leerink Swann restated a “buy” rating and set a $53.00 price objective on shares of The Medicines in a research report on Thursday, June 23rd. Bank of America Corp. restated a “buy” rating on shares of The Medicines in a research report on Tuesday, July 12th. Guggenheim upped their price objective on shares of The Medicines from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. JPMorgan Chase & Co. restated a “buy” rating on shares of The Medicines in a research report on Thursday, October 6th. Finally, Zacks Investment Research upgraded shares of The Medicines from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The Medicines has an average rating of “Buy” and an average price target of $47.33.
In other The Medicines news, CEO Clive Meanwell sold 1,377 shares of The Medicines stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $40.00, for a total value of $55,080.00. Following the completion of the transaction, the chief executive officer now owns 339,168 shares of the company’s stock, valued at $13,566,720. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.90% of the stock is currently owned by company 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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