Today: Today, Brokerages Set The Medicines Co. (MDCO) PT at $48.40

Today, Brokerages Set The Medicines Co. (MDCO) PT at $48.40

The Medicines Co. (NASDAQ:MDCO) has earned an average recommendation of “Buy” from the twelve ratings firms that are covering the company. Three equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $48.40.

MDCO has been the topic of a number of research reports. JPMorgan Chase & Co. restated a “buy” rating on shares of The Medicines in a report on Thursday, October 6th. RBC Capital Markets upped their price target on The Medicines from $45.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, November 16th. Jefferies Group restated a “buy” rating and issued a $43.00 price target on shares of The Medicines in a report on Wednesday, November 16th. Guggenheim restated a “buy” rating and issued a $55.00 price target on shares of The Medicines in a report on Monday, August 15th. Finally, Cowen and Company restated a “buy” rating and issued a $45.00 price target on shares of The Medicines in a report on Friday, August 5th.

Shares of The Medicines (NASDAQ:MDCO) opened at 37.23 on Wednesday. The stock’s market cap is $2.61 billion. The firm has a 50-day moving average price of $35.53 and a 200-day moving average price of $36.65. The Medicines has a 52-week low of $27.50 and a 52-week high of $42.86.

The Medicines (NASDAQ:MDCO) last released its quarterly earnings results on Wednesday, October 26th. The company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.66. The business had revenue of $37.60 million for the quarter, compared to analysts’ expectations of $37.26 million. The Medicines had a negative return on equity of 35.07% and a negative net margin of 96.44%. The company’s revenue was down 34.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.82) EPS. On average, analysts anticipate that The Medicines will post ($1.41) EPS for the current fiscal year.

In other news, CEO Clive Meanwell sold 8,623 shares of the firm’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $40.00, for a total transaction of $344,920.00. Following the sale, the chief executive officer now owns 347,791 shares in the company, valued at $13,911,640. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.90% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Whittier Trust Co. boosted its stake in The Medicines by 1.2% in the second quarter. Whittier Trust Co. now owns 23,718 shares of the company’s stock valued at $798,000 after buying an additional 288 shares during the period. American Century Companies Inc. acquired a new stake in The Medicines during the second quarter valued at about $1,939,000. Strs Ohio boosted its stake in The Medicines by 22.4% in the second quarter. Strs Ohio now owns 6,000 shares of the company’s stock valued at $201,000 after buying an additional 1,100 shares during the period. Louisiana State Employees Retirement System boosted its stake in The Medicines by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 30,800 shares of the company’s stock valued at $1,036,000 after buying an additional 100 shares during the period. Finally, Bank of Montreal Can acquired a new stake in The Medicines during the second quarter valued at about $6,288,000.

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