The Medicines Co. (NASDAQ:MDCO) CEO Clive Meanwell sold 8,623 shares of The Medicines stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $40.00, for a total value of $344,920.00. Following the transaction, the chief executive officer now directly owns 347,791 shares in the company, valued at $13,911,640. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Clive Meanwell also recently made the following trade(s):
- On Thursday, September 1st, Clive Meanwell sold 1,377 shares of The Medicines stock. The stock was sold at an average price of $40.00, for a total value of $55,080.00.
- On Wednesday, August 24th, Clive Meanwell sold 20,000 shares of The Medicines stock. The stock was sold at an average price of $40.00, for a total value of $800,000.00.
The Medicines Co. (NASDAQ:MDCO) opened at 40.45 on Friday. The firm’s market capitalization is $2.82 billion. The Medicines Co. has a 1-year low of $27.50 and a 1-year high of $43.00. The company’s 50-day moving average price is $38.49 and its 200-day moving average price is $35.79.
The Medicines (NASDAQ:MDCO) last released its earnings results on Wednesday, July 27th. The company reported ($0.62) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.16) by $0.54. The Medicines had a negative return on equity of 34.20% and a negative net margin of 90.33%. The business had revenue of $54.70 million for the quarter, compared to analysts’ expectations of $41.93 million. During the same quarter in the prior year, the firm earned ($0.65) earnings per share. The firm’s revenue was down 26.5% on a year-over-year basis. Equities research analysts expect that The Medicines Co. will post ($1.36) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC bought a new position in shares of The Medicines during the second quarter worth about $100,000. BlackRock Inc. boosted its position in shares of 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 during the period. Strs Ohio boosted 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 period. HBK Investments L P bought a new position in shares of The Medicines during the first quarter worth about $210,000. Finally, Emerald Acquisition Ltd. bought a new position in shares of The Medicines during the second quarter worth about $258,000.
Several brokerages have commented on MDCO. Jefferies Group reaffirmed a “buy” rating and set a $43.00 target price on shares of The Medicines in a report on Wednesday, August 31st. Guggenheim reaffirmed a “buy” rating and set a $55.00 target price on shares of The Medicines in a report on Monday, August 15th. Cowen and Company reaffirmed a “buy” rating and set a $45.00 target price on shares of The Medicines in a report on Friday, August 5th. Citigroup Inc. reaffirmed a “hold” rating on shares of The Medicines in a report on Tuesday, August 2nd. Finally, Zacks Investment Research raised The Medicines from a “sell” rating to a “hold” rating in a 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. The stock has an average rating of “Buy” and an average price target of $47.33.
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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