TIAA CREF Investment Management LLC Sells 1,501 Shares of The Medicines Company (MDCO)

TIAA CREF Investment Management LLC cut its holdings in shares of The Medicines Company (NASDAQ:MDCO) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 186,229 shares of the company’s stock after selling 1,501 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.26% of The Medicines worth $7,079,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in shares of The Medicines by 134.0% during the first quarter. Russell Investments Group Ltd. now owns 23,115 shares of the company’s stock valued at $1,130,000 after acquiring an additional 13,237 shares during the period. US Bancorp DE raised its holdings in shares of The Medicines by 1.7% during the first quarter. US Bancorp DE now owns 3,413 shares of the company’s stock valued at $167,000 after acquiring an additional 58 shares during the period. Parametric Portfolio Associates LLC raised its holdings in shares of The Medicines by 29.3% during the first quarter. Parametric Portfolio Associates LLC now owns 151,934 shares of the company’s stock valued at $7,430,000 after acquiring an additional 34,407 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of The Medicines by 5.1% during the first quarter. Envestnet Asset Management Inc. now owns 2,496 shares of the company’s stock valued at $122,000 after acquiring an additional 120 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of The Medicines by 2.8% during the first quarter. Prudential Financial Inc. now owns 122,552 shares of the company’s stock valued at $5,993,000 after acquiring an additional 3,390 shares during the period.

A number of research firms have recently issued reports on MDCO. Zacks Investment Research lowered shares of The Medicines from a “hold” rating to a “strong sell” rating in a report on Tuesday. Oppenheimer Holdings, Inc. set a $50.00 price target on shares of The Medicines and gave the company a “hold” rating in a report on Wednesday, October 4th. Chardan Capital restated a “buy” rating and set a $85.00 price target on shares of The Medicines in a report on Wednesday, September 20th. Jefferies Group LLC restated a “buy” rating and set a $54.00 price target on shares of The Medicines in a report on Thursday, September 14th. Finally, Citigroup Inc. cut their price target on shares of The Medicines from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The Medicines currently has a consensus rating of “Buy” and a consensus target price of $54.00.

The Medicines Company (NASDAQ:MDCO) opened at 35.89 on Thursday. The firm’s market cap is $2.58 billion. The Medicines Company has a 1-year low of $30.80 and a 1-year high of $55.95. The firm has a 50-day moving average of $36.35 and a 200 day moving average of $40.86.

The Medicines (NASDAQ:MDCO) last announced its quarterly earnings results on Wednesday, August 9th. The company reported ($5.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.29) by ($4.23). The Medicines had a negative net margin of 670.46% and a negative return on equity of 137.20%. The company had revenue of $18.74 million during the quarter, compared to the consensus estimate of $29.64 million. During the same period in the previous year, the firm posted ($0.62) EPS. The business’s quarterly revenue was down 65.8% compared to the same quarter last year. Analysts expect that The Medicines Company will post ($9.69) earnings per share for the current fiscal year.

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About The Medicines

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).

Institutional Ownership by Quarter for The Medicines (NASDAQ:MDCO)

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