Granahan Investment Management Inc. MA Acquires Shares of 32,948 The Medicines Company (MDCO)

Granahan Investment Management Inc. MA acquired a new stake in The Medicines Company (NASDAQ:MDCO) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 32,948 shares of the company’s stock, valued at approximately $1,220,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC grew its stake in shares of The Medicines by 1.1% in the second quarter. FMR LLC now owns 10,825,038 shares of the company’s stock valued at $411,460,000 after buying an additional 117,982 shares in the last quarter. Iridian Asset Management LLC CT grew its stake in shares of 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 valued at $139,791,000 after buying an additional 655,065 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of The Medicines by 21.9% in the third quarter. Westfield Capital Management Co. LP now owns 2,476,778 shares of the company’s stock valued at $91,740,000 after buying an additional 445,419 shares in the last quarter. State Street Corp grew its stake in shares of The Medicines by 9.0% in the second quarter. State Street Corp now owns 2,220,199 shares of the company’s stock valued at $84,391,000 after buying an additional 183,086 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of The Medicines by 24.1% in the second quarter. Franklin Resources Inc. now owns 1,765,169 shares of the company’s stock valued at $67,093,000 after buying an additional 343,160 shares in the last quarter.

Shares of The Medicines Company (NASDAQ MDCO) opened at $27.65 on Thursday. The Medicines Company has a twelve month low of $25.40 and a twelve month high of $55.95. The company has a debt-to-equity ratio of 3.42, a quick ratio of 1.79 and a current ratio of 2.31.

The Medicines (NASDAQ:MDCO) last posted its earnings results on Wednesday, October 25th. The company reported ($0.42) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.37) by $0.95. The Medicines had a negative return on equity of 174.68% and a negative net margin of 767.94%. The company had revenue of $16.87 million during the quarter, compared to the consensus estimate of $26.06 million. During the same quarter last year, the firm earned ($0.64) earnings per share. The company’s revenue was down 55.1% on a year-over-year basis. sell-side analysts predict that The Medicines Company will post -8.86 earnings per share for the current fiscal year.

Several research firms recently weighed in on MDCO. Oppenheimer set a $50.00 target price on shares of The Medicines and gave the company a “hold” rating in a research note on Thursday, August 17th. ValuEngine raised shares of The Medicines from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Citigroup raised shares of The Medicines from a “sell” rating to an “outperform” rating in a research note on Thursday, November 30th. Zacks Investment Research cut shares of The Medicines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 10th. Finally, Jefferies Group reissued a “buy” rating and issued a $54.00 target price on shares of The Medicines in a research note on Thursday, September 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. The Medicines presently has a consensus rating of “Buy” and an average target price of $53.67.

In other The Medicines news, Director Alexander J. Denner bought 170,000 shares of the stock in a transaction on Wednesday, November 29th. The stock was purchased at an average price of $30.03 per share, with a total value of $5,105,100.00. Following the completion of the purchase, the director now owns 6,663 shares in the company, valued at $200,089.89. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Fredric N. Eshelman bought 200,000 shares of the stock in a transaction on Friday, December 8th. The shares were acquired at an average cost of $26.56 per share, with a total value of $5,312,000.00. Following the purchase, the insider now owns 1,028,383 shares of the company’s stock, valued at approximately $27,313,852.48. The disclosure for this purchase can be found here. 8.22% of the stock is owned by insiders.

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

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