California State Teachers Retirement System Has $4.65 Million Position in The Medicines Company (MDCO)

California State Teachers Retirement System lowered its holdings in The Medicines Company (NASDAQ:MDCO) by 8.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,238 shares of the company’s stock after selling 10,568 shares during the quarter. California State Teachers Retirement System owned 0.17% of The Medicines worth $4,646,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in The Medicines by 341.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,109 shares of the company’s stock valued at $104,000 after acquiring an additional 1,631 shares during the period. Envestnet Asset Management Inc. increased its stake in The Medicines by 5.1% in 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. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in The Medicines by 10.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,753 shares of the company’s stock valued at $105,000 after acquiring an additional 264 shares during the period. First Mercantile Trust Co. increased its stake in The Medicines by 2.5% in the second quarter. First Mercantile Trust Co. now owns 4,767 shares of the company’s stock valued at $181,000 after acquiring an additional 114 shares during the period. Finally, Bluefin Trading LLC bought a new stake in The Medicines in the second quarter valued at about $214,000.

A number of analysts recently weighed in on MDCO shares. Jefferies Group LLC reissued a “buy” rating and issued a $54.00 target price (down previously from $62.00) on shares of The Medicines in a research note on Thursday, August 10th. Cowen and Company reissued a “buy” rating and issued a $54.00 target price (down previously from $61.00) on shares of The Medicines in a research note on Thursday, August 10th. Zacks Investment Research raised shares of The Medicines from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, August 8th. Chardan Capital reissued a “buy” rating and issued a $85.00 target price on shares of The Medicines in a research note on Wednesday, September 20th. Finally, Guggenheim started coverage on shares of The Medicines in a research note on Monday, October 23rd. They issued a “buy” rating and a $45.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $53.18.

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The Medicines (NASDAQ:MDCO) last released its earnings results on Wednesday, October 25th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.95. The Medicines had a negative net margin of 767.94% and a negative return on equity of 149.81%. The firm had revenue of $16.87 million for the quarter, compared to analyst estimates of $26.06 million. During the same period last year, the firm earned ($0.64) EPS. The business’s quarterly revenue was down 55.1% compared to the same quarter last year.

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).

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

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