The Medicines (MDCO) Releases Quarterly Earnings Results, Misses Estimates By $0.13 EPS

The Medicines (NASDAQ:MDCO) announced its quarterly earnings results on Thursday. The company reported ($0.70) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.13), Briefing.com reports. The Medicines had a negative return on equity of 394.33% and a negative net margin of 668.93%. The business had revenue of ($3.30) million for the quarter, compared to analyst estimates of $1.88 million. During the same quarter last year, the company earned ($1.19) EPS. The business’s revenue for the quarter was down 141.8% compared to the same quarter last year.

NASDAQ:MDCO traded down $0.20 during midday trading on Friday, reaching $23.79. The stock had a trading volume of 970,469 shares, compared to its average volume of 910,131. The Medicines has a 1-year low of $23.22 and a 1-year high of $41.57. The company has a current ratio of 2.60, a quick ratio of 2.55 and a debt-to-equity ratio of 31.23. The firm has a market capitalization of $1.89 billion, a PE ratio of -2.83 and a beta of 1.06.

Several brokerages have recently commented on MDCO. Oppenheimer set a $50.00 price target on shares of The Medicines and gave the stock a “buy” rating in a research note on Friday. BidaskClub lowered shares of The Medicines from a “sell” rating to a “strong sell” rating in a research note on Friday, September 28th. ValuEngine lowered shares of The Medicines from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. Citigroup increased their price target on shares of The Medicines from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, August 20th. Finally, Zacks Investment Research upgraded shares of The Medicines from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $53.71.

In related news, CEO Clive Meanwell sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $39.31, for a total value of $1,965,500.00. Following the transaction, the chief executive officer now directly owns 352,409 shares in the company, valued at approximately $13,853,197.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.29% of the company’s stock.

A number of large investors have recently bought and sold shares of MDCO. CIBC Asset Management Inc acquired a new position in The Medicines in the 2nd quarter valued at $210,000. NumerixS Investment Technologies Inc acquired a new position in The Medicines in the 2nd quarter valued at $229,000. Xact Kapitalforvaltning AB grew its stake in The Medicines by 28.9% in the 1st quarter. Xact Kapitalforvaltning AB now owns 10,260 shares of the company’s stock valued at $338,000 after buying an additional 2,300 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new position in The Medicines in the 2nd quarter valued at $443,000. Finally, Eqis Capital Management Inc. acquired a new position in The Medicines in the 2nd quarter valued at $449,000.

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About The Medicines

The Medicines Company, a biopharmaceutical company, provides medicines to treat acute and intensive care patients. The company markets Angiomax, an intravenous direct thrombin inhibitor used as an anticoagulant in combination with aspirin in patients with unstable angina undergoing percutaneous transluminal coronary angioplasty, and for patients undergoing percutaneous coronary intervention in the United States.

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Earnings History for The Medicines (NASDAQ:MDCO)

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