Nationwide Fund Advisors cut its stake in The Medicines Co. (NASDAQ:MDCO) by 5.1% during the second quarter, Holdings Channel reports. The fund owned 91,444 shares of the company’s stock after selling 4,894 shares during the period. Nationwide Fund Advisors owned about 0.13% of The Medicines worth $3,075,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. BlackRock Inc. boosted 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 last quarter. Strs Ohio boosted its stake in 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 purchased a new stake in The Medicines during the first quarter valued at about $210,000. Emerald Acquisition Ltd. purchased a new stake in The Medicines during the second quarter valued at about $258,000. Finally, Wexford Capital LP purchased a new stake in The Medicines during the first quarter valued at about $260,000.
Shares of The Medicines Co. (NASDAQ:MDCO) traded up 0.23% during trading on Friday, hitting $35.41. 2,048,424 shares of the company were exchanged. The Medicines Co. has a 12 month low of $27.50 and a 12 month high of $43.00. The company’s 50-day moving average price is $38.65 and its 200 day moving average price is $36.24. The stock’s market cap is $2.47 billion.
The Medicines (NASDAQ:MDCO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.62) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.16) by $0.54. The company had revenue of $54.70 million for the quarter, compared to analyst estimates of $41.93 million. The Medicines had a negative net margin of 90.33% and a negative return on equity of 34.20%. The Medicines’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.65) EPS. On average, equities analysts predict that The Medicines Co. will post ($1.36) earnings per share for the current fiscal year.
Several research analysts have recently weighed in on the company. Jefferies Group restated a “buy” rating and set a $43.00 target price on shares of The Medicines in a report on Wednesday, August 31st. Zacks Investment Research upgraded The Medicines from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Citigroup Inc. restated a “hold” rating on shares of The Medicines in a report on Tuesday, August 2nd. JPMorgan Chase & Co. restated a “buy” rating on shares of The Medicines in a report on Thursday. Finally, Cowen and Company restated a “buy” rating and set a $45.00 target price on shares of The Medicines in a report on Friday, August 5th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $47.33.
In other news, Director Hiroaki Shigeta sold 3,849 shares of the firm’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $38.50, for a total value of $148,186.50. Following the transaction, the director now owns 23,547 shares of the company’s stock, valued at approximately $906,559.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Clive Meanwell sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $40.00, for a total transaction of $800,000.00. Following the completion of the transaction, the chief executive officer now directly owns 358,790 shares in the company, valued at approximately $14,351,600. The disclosure for this sale can be found here. 7.90% of the stock is currently owned by company insiders.
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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