Elk Creek Partners LLC reduced its stake in shares of The Medicines Company (NASDAQ:MDCO) by 15.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 676,591 shares of the company’s stock after selling 122,113 shares during the quarter. The Medicines makes up approximately 1.7% of Elk Creek Partners LLC’s investment portfolio, making the stock its 9th largest position. Elk Creek Partners LLC owned approximately 0.95% of The Medicines worth $25,717,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC boosted its stake in shares of The Medicines by 0.8% during the first quarter. FMR LLC now owns 10,707,056 shares of the company’s stock valued at $523,575,000 after purchasing an additional 87,958 shares during the period. Vanguard Group Inc. lifted its stake in The Medicines by 5.4% in the first quarter. Vanguard Group Inc. now owns 6,090,730 shares of the company’s stock worth $297,837,000 after acquiring an additional 313,876 shares during the period. Aviva Holdings Ltd. purchased a new stake in The Medicines in the first quarter worth about $187,477,000. Iridian Asset Management LLC CT lifted its stake in The Medicines by 21.7% in the second quarter. Iridian Asset Management LLC CT now owns 3,677,746 shares of the company’s stock worth $139,791,000 after acquiring an additional 655,065 shares during the period. Finally, Franklin Resources Inc. lifted its stake in The Medicines by 24.1% in the second quarter. Franklin Resources Inc. now owns 1,765,169 shares of the company’s stock worth $67,093,000 after acquiring an additional 343,160 shares during the period.
The Medicines Company (NASDAQ MDCO) traded up 0.45% during mid-day trading on Friday, hitting $33.16. 2,983,254 shares of the company’s stock traded hands. The stock’s market cap is $2.38 billion. The firm’s 50-day moving average price is $36.40 and its 200-day moving average price is $42.85. The Medicines Company has a one year low of $30.80 and a one year high of $55.95.
The Medicines (NASDAQ:MDCO) last announced its quarterly earnings data on Wednesday, August 9th. The company reported ($5.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.29) by ($4.23). The company had revenue of $18.74 million during the quarter, compared to analysts’ expectations of $29.64 million. The Medicines had a negative net margin of 670.46% and a negative return on equity of 137.20%. The business’s quarterly 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, analysts forecast that The Medicines Company will post ($9.69) EPS for the current fiscal year.
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MDCO has been the subject of a number of research reports. Chardan Capital reaffirmed a “buy” rating and issued a $85.00 price objective (up from $80.00) on shares of The Medicines in a research note on Tuesday, August 29th. ValuEngine lowered shares of The Medicines from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 20th. Oppenheimer Holdings, Inc. initiated coverage on shares of The Medicines in a research note on Monday, May 22nd. They issued a “market perform” rating and a $50.00 price objective for the company. Citigroup Inc. upped their price objective on shares of The Medicines from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 26th. Finally, CIBC set a $50.00 price objective on shares of The Medicines in a research note on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $54.00.
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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