Todays Report: The Prudential Financial Inc. Boosts Position in The Medicines Co. (MDCO)

The Prudential Financial Inc. Boosts Position in The Medicines Co. (MDCO)

Prudential Financial Inc. raised its position in shares of The Medicines Co. (NASDAQ:MDCO) by 3.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 176,091 shares of the company’s stock after buying an additional 6,541 shares during the period. Prudential Financial Inc. owned about 0.25% of The Medicines worth $5,922,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Aperio Group LLC increased its position in The Medicines by 7.5% in the first quarter. Aperio Group LLC now owns 19,480 shares of the company’s stock worth $619,000 after buying an additional 1,361 shares in the last quarter. Pacad Investment Ltd. acquired a new position in The Medicines during the first quarter worth about $337,000. Franklin Resources Inc. increased its position in The Medicines by 2.2% in the first quarter. Franklin Resources Inc. now owns 1,477,054 shares of the company’s stock worth $46,926,000 after buying an additional 32,100 shares in the last quarter. BlackRock Inc. increased its position in The Medicines by 28.3% in the first quarter. BlackRock Inc. now owns 4,554 shares of the company’s stock worth $145,000 after buying an additional 1,005 shares in the last quarter. Finally, BlackRock Group LTD increased its position in The Medicines by 9.2% in the first quarter. BlackRock Group LTD now owns 86,518 shares of the company’s stock worth $2,749,000 after buying an additional 7,296 shares in the last quarter.

The Medicines Co. (NASDAQ:MDCO) opened at 36.56 on Wednesday. The Medicines Co. has a 52-week low of $27.50 and a 52-week high of $43.00. The firm’s market capitalization is $2.55 billion. The company’s 50-day moving average is $38.57 and its 200-day moving average is $36.35.

The Medicines (NASDAQ:MDCO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.54. The business earned $54.70 million during the quarter, compared to the consensus estimate of $41.93 million. The Medicines had a negative net margin of 90.33% and a negative return on equity of 34.20%. The company’s quarterly revenue was down 26.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.65) earnings per share. Equities analysts predict that The Medicines Co. will post ($1.36) earnings per share for the current year.

A number of research firms have weighed in on MDCO. Jefferies Group reaffirmed a “buy” rating and issued a $43.00 price objective on shares of The Medicines in a report on Wednesday, August 31st. Zacks Investment Research raised shares of The Medicines from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Citigroup Inc. reaffirmed a “hold” rating on shares of The Medicines in a report on Tuesday, August 2nd. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of The Medicines in a report on Thursday, October 6th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $45.00 price objective on shares of The Medicines in a report on Friday, August 5th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $47.33.

In other news, CEO Clive Meanwell sold 1,377 shares of The Medicines stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $40.00, for a total transaction of $55,080.00. Following the completion of the sale, the chief executive officer now directly owns 339,168 shares in the company, valued at $13,566,720. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.90% of the company’s stock.

The Medicines Company Profile

The Medicines Company is a global biopharmaceutical company. The Company’s marketed products include Angiomax (bivalirudin), Cleviprex (clevidipine) injectable emulsion, Ionsys (fentanyl iontophoretic transdermal system), Kengreal (cangrelor), Minocin (minocycline) for injection, and Orbactiv (oritavancin).

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