Whittier Trust Co. increased its position in The Medicines Company (NASDAQ:MDCO) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,697 shares of the company’s stock after buying an additional 663 shares during the period. Whittier Trust Co.’s holdings in The Medicines were worth $976,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan raised its stake in shares of The Medicines by 0.3% in the first quarter. Municipal Employees Retirement System of Michigan now owns 15,850 shares of the company’s stock worth $775,000 after buying an additional 50 shares during the period. US Bancorp DE raised its stake in shares of The Medicines by 1.7% in the first quarter. US Bancorp DE now owns 3,413 shares of the company’s stock worth $167,000 after buying an additional 58 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of The Medicines by 5.1% in the first quarter. Envestnet Asset Management Inc. now owns 2,496 shares of the company’s stock worth $122,000 after buying an additional 120 shares during the period. Old West Investment Management LLC raised its stake in shares of The Medicines by 2.5% in the first quarter. Old West Investment Management LLC now owns 10,752 shares of the company’s stock worth $525,000 after buying an additional 259 shares during the period. Finally, Neuburgh Advisers LLC raised its stake in shares of The Medicines by 12.4% in the first quarter. Neuburgh Advisers LLC now owns 2,596 shares of the company’s stock worth $127,000 after buying an additional 286 shares during the period.
The Medicines Company (NASDAQ MDCO) opened at 37.71 on Thursday. The firm’s market cap is $2.68 billion. The stock’s 50 day moving average is $38.10 and its 200 day moving average is $44.52. The Medicines Company has a one year low of $30.80 and a one year high of $55.95.
The Medicines (NASDAQ:MDCO) last issued its earnings results on Wednesday, August 9th. The company reported ($5.52) EPS for the quarter, missing analysts’ consensus estimates of ($1.29) by $4.23. The Medicines had a negative net margin of 91.25% and a negative return on equity of 19.09%. The firm had revenue of $18.74 million during the quarter, compared to analyst estimates of $29.64 million. During the same quarter in the previous year, the company posted ($0.62) earnings per share. The business’s revenue for the quarter was down 65.8% compared to the same quarter last year. On average, equities research analysts expect that The Medicines Company will post ($5.98) earnings per share for the current year.
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Several research firms have weighed in on MDCO. Jefferies Group LLC reiterated a “buy” rating and set a $62.00 target price on shares of The Medicines in a research note on Wednesday, April 12th. ValuEngine lowered shares of The Medicines from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 20th. Cowen and Company boosted their target price on shares of The Medicines from $39.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. Zacks Investment Research upgraded shares of The Medicines from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday. Finally, Citigroup Inc. lowered their target price on shares of The Medicines from $59.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $53.73.
The Medicines Company Profile
The Medicines Company is a global biopharmaceutical company. The Company is focused on advancing the treatment of acute and intensive care patients through the delivery of medicines to the hospital marketplace around the world. It markets Angiomax (bivalirudin), Ionsys (fentanyl iontophoretic transdermal system), Minocin (minocycline) for injection and Orbactiv (oritavancin).
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