The Medicines Company (NASDAQ:MDCO) had its price objective cut by Citigroup Inc. from $45.00 to $44.00 in a research report released on Monday morning. They currently have a neutral rating on the stock.
A number of other research analysts have also issued reports on MDCO. Cowen and Company restated a buy rating and set a $54.00 price objective (down previously from $61.00) on shares of The Medicines in a research report on Thursday, August 10th. TheStreet downgraded The Medicines from a c- rating to a d rating in a research note on Wednesday, August 9th. ValuEngine raised The Medicines from a strong sell rating to a sell rating in a research note on Friday, June 2nd. Jefferies Group LLC reissued a buy rating and issued a $54.00 price objective (down previously from $62.00) on shares of The Medicines in a research note on Thursday, August 10th. Finally, CIBC set a $50.00 price objective on The Medicines in a research note on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $52.00.
Shares of The Medicines (NASDAQ:MDCO) traded up 0.56% during trading on Monday, hitting $35.60. The stock had a trading volume of 298,815 shares. The Medicines has a one year low of $30.80 and a one year high of $55.95. The stock’s 50-day moving average price is $37.77 and its 200-day moving average price is $44.53. The company’s market cap is $2.56 billion.
The Medicines (NASDAQ:MDCO) last issued its earnings results on Wednesday, August 9th. The company reported ($5.52) EPS for the quarter, missing the consensus estimate of ($1.29) by $4.23. The firm had revenue of $18.74 million during the quarter, compared to analyst estimates of $29.64 million. The Medicines had a negative return on equity of 137.20% and a negative net margin of 670.46%. The Medicines’s revenue was down 65.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.62) EPS. On average, equities research analysts forecast that The Medicines will post ($9.57) EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in MDCO. Teachers Advisors LLC raised its position in shares of The Medicines by 7.5% in the fourth quarter. Teachers Advisors LLC now owns 388,374 shares of the company’s stock worth $13,181,000 after buying an additional 27,042 shares during the last quarter. Louisiana State Employees Retirement System increased its position in The Medicines by 3.9% in the first quarter. Louisiana State Employees Retirement System now owns 29,100 shares of the company’s stock worth $1,423,000 after buying an additional 1,100 shares during the period. Everence Capital Management Inc. bought a new position in The Medicines during the first quarter worth $233,000. Nisa Investment Advisors LLC increased its position in The Medicines by 6.5% in the first quarter. Nisa Investment Advisors LLC now owns 9,480 shares of the company’s stock worth $464,000 after buying an additional 580 shares during the period. Finally, State of Alaska Department of Revenue increased its position in The Medicines by 5.0% in the first quarter. State of Alaska Department of Revenue now owns 7,910 shares of the company’s stock worth $386,000 after buying an additional 380 shares during the period.
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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