State of Tennessee Treasury Department increased its position in shares of The Medicines Company (NASDAQ:MDCO) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 66,881 shares of the company’s stock after acquiring an additional 1,675 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.09% of The Medicines worth $2,542,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MDCO. PNC Financial Services Group Inc. boosted its holdings in shares of The Medicines by 341.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,109 shares of the company’s stock valued at $104,000 after purchasing an additional 1,631 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of The Medicines by 10.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,753 shares of the company’s stock valued at $105,000 after purchasing an additional 264 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of The Medicines by 5.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,496 shares of the company’s stock valued at $122,000 after purchasing an additional 120 shares during the last quarter. Neuburgh Advisers LLC boosted its holdings in shares of The Medicines by 12.4% in the 1st quarter. Neuburgh Advisers LLC now owns 2,596 shares of the company’s stock valued at $127,000 after purchasing an additional 286 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of The Medicines by 1.7% in the 1st quarter. US Bancorp DE now owns 3,413 shares of the company’s stock valued at $167,000 after purchasing an additional 58 shares during the last quarter.
Several equities analysts recently weighed in on the stock. Oppenheimer Holdings, Inc. assumed coverage on shares of The Medicines in a report on Monday, May 22nd. They set a “market perform” rating and a $50.00 target price on the stock. ValuEngine lowered shares of The Medicines from a “sell” rating to a “strong sell” rating in a report on Saturday, May 20th. CIBC set a $50.00 target price on shares of The Medicines in a report on Tuesday, May 23rd. Citigroup Inc. lifted their target price on shares of The Medicines from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, July 26th. Finally, Jefferies Group LLC restated a “buy” rating and set a $62.00 target price on shares of The Medicines in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $54.00.
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The Medicines Company (MDCO) opened at 33.16 on Friday. The firm’s market capitalization is $2.38 billion. The Medicines Company has a 12-month low of $30.80 and a 12-month high of $55.95. The stock has a 50 day moving average of $36.40 and a 200 day moving average of $42.85.
The Medicines (NASDAQ:MDCO) last issued its quarterly earnings results on Wednesday, August 9th. The company reported ($5.52) earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the company earned ($0.62) earnings per share. The Medicines’s revenue for the quarter was down 65.8% on a year-over-year basis. Equities research analysts anticipate that The Medicines Company will post ($9.69) earnings per share for the current year.
The Medicines 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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