Trade Report: Today, Royal Bank Of Canada Cuts The Medicines Co. (MDCO) Price Target to $45.00

Today, Royal Bank Of Canada Cuts The Medicines Co. (MDCO) Price Target to $45.00

The Medicines Co. (NASDAQ:MDCO) had its target price lowered by analysts at Royal Bank Of Canada from $48.00 to $45.00 in a note issued to investors on Tuesday. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 20.87% from the stock’s previous close.

Several other analysts have also recently issued reports on MDCO. Zacks Investment Research raised The Medicines from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Bank of America Corp. reaffirmed a “buy” rating on shares of The Medicines in a report on Tuesday, July 12th. Leerink Swann restated a “buy” rating on shares of The Medicines in a report on Tuesday, July 19th. Guggenheim increased their price target on The Medicines from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Finally, Citigroup Inc. restated a “hold” rating on shares of The Medicines in a report on Tuesday, August 2nd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $49.78.

Shares of The Medicines (NASDAQ:MDCO) opened at 37.23 on Tuesday. The stock’s 50 day moving average is $35.53 and its 200-day moving average is $36.65. The Medicines has a one year low of $27.50 and a one year high of $42.86. The company’s market cap is $2.61 billion.

The Medicines (NASDAQ:MDCO) last issued its quarterly earnings data on Wednesday, October 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter was down 34.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.82) EPS. Equities research analysts expect that The Medicines will post ($1.41) earnings per share for the current year.

In other The Medicines news, CEO Clive Meanwell sold 8,623 shares of the stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $40.00, for a total value 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 SEC, which is accessible through the SEC website. 7.90% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in MDCO. Tower Research Capital LLC TRC acquired a new stake in The Medicines during the second quarter worth $100,000. LS Investment Advisors LLC raised its stake in The Medicines by 1.8% in the third quarter. LS Investment Advisors LLC now owns 2,942 shares of the company’s stock worth $111,000 after buying an additional 51 shares during the last quarter. BlackRock Inc. raised its stake 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 during the last quarter. Strs Ohio raised its stake in The Medicines by 22.4% in the second quarter. Strs Ohio now owns 6,000 shares of the company’s stock worth $201,000 after buying an additional 1,100 shares during the last quarter. Finally, HBK Investments L P acquired a new stake in The Medicines during the first quarter worth $210,000.

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