Zacks: Analysts Anticipate The Medicines Company (MDCO) to Announce -$0.48 EPS

Wall Street brokerages expect The Medicines Company (NASDAQ:MDCO) to report ($0.48) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for The Medicines’ earnings. The lowest EPS estimate is ($0.65) and the highest is ($0.28). The Medicines posted earnings of ($0.42) per share in the same quarter last year, which would indicate a negative year over year growth rate of 14.3%. The business is scheduled to announce its next quarterly earnings results on Wednesday, October 24th.

According to Zacks, analysts expect that The Medicines will report full-year earnings of ($2.28) per share for the current year, with EPS estimates ranging from ($2.58) to ($1.97). For the next year, analysts anticipate that the business will report earnings of ($1.75) per share, with EPS estimates ranging from ($2.42) to ($0.94). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover The Medicines.

The Medicines (NASDAQ:MDCO) last posted its earnings results on Wednesday, August 1st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.30. The Medicines had a negative net margin of 668.93% and a negative return on equity of 394.33%. The company had revenue of $1.67 million during the quarter, compared to analysts’ expectations of $7.20 million. During the same quarter in the previous year, the company posted ($0.72) earnings per share. The Medicines’s quarterly revenue was down 84.6% compared to the same quarter last year.

A number of research analysts have recently issued reports on the stock. Oppenheimer set a $50.00 target price on shares of The Medicines and gave the company a “buy” rating in a research note on Monday. Citigroup lifted their target price on shares of The Medicines from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, August 20th. BidaskClub upgraded shares of The Medicines from a “hold” rating to a “buy” rating in a research report on Tuesday, June 12th. B. Riley assumed coverage on shares of The Medicines in a research report on Thursday, June 7th. They issued a “buy” rating and a $55.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of The Medicines from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $52.63.

In related news, CEO Clive Meanwell sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $39.24, for a total value of $1,962,000.00. Following the completion of the transaction, the chief executive officer now owns 352,034 shares in the company, valued at approximately $13,813,814.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 150,000 shares of company stock valued at $5,731,000 in the last 90 days. 10.29% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of MDCO. Rhumbline Advisers raised its position in The Medicines by 1.4% in the 1st quarter. Rhumbline Advisers now owns 158,499 shares of the company’s stock worth $5,221,000 after purchasing an additional 2,139 shares during the last quarter. Prudential Financial Inc. grew its holdings in The Medicines by 2.5% during the 1st quarter. Prudential Financial Inc. now owns 109,022 shares of the company’s stock worth $3,591,000 after acquiring an additional 2,650 shares during the period. Swiss National Bank grew its holdings in The Medicines by 2.3% during the 1st quarter. Swiss National Bank now owns 126,550 shares of the company’s stock worth $4,169,000 after acquiring an additional 2,900 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in The Medicines by 5.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 336,644 shares of the company’s stock worth $11,090,000 after acquiring an additional 18,182 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in The Medicines by 9.9% during the 1st quarter. Thrivent Financial for Lutherans now owns 43,410 shares of the company’s stock worth $1,430,000 after acquiring an additional 3,911 shares during the period.

Shares of NASDAQ:MDCO traded down $0.94 during trading on Friday, reaching $30.53. The stock had a trading volume of 47,175 shares, compared to its average volume of 736,581. The Medicines has a 52 week low of $24.45 and a 52 week 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 stock has a market capitalization of $2.42 billion, a P/E ratio of -3.73 and a beta of 0.77.

The Medicines Company Profile

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.

See Also: How to Invest in Growth Stocks

Get a free copy of the Zacks research report on The Medicines (MDCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for The Medicines (NASDAQ:MDCO)

Receive News & Ratings for The Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Medicines and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply