Trade Report: The Medicines Co. (MDCO) Receives Outperform Rating from Leerink Swann

The Medicines Co. (MDCO) Receives Outperform Rating from Leerink Swann

The Medicines Co. (NASDAQ:MDCO)‘s stock had its “outperform” rating reissued by Leerink Swann in a research report issued on Saturday.

MDCO has been the topic of several other reports. Royal Bank Of Canada reaffirmed a “buy” rating on shares of The Medicines in a report on Tuesday, July 12th. Citigroup Inc. reaffirmed a “hold” rating on shares of The Medicines in a report on Tuesday, August 2nd. 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. Bank of America Corp. reaffirmed a “buy” rating on shares of The Medicines in a report on Tuesday, July 12th. Finally, Guggenheim upped their price objective on shares of The Medicines from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $47.33.

The Medicines (NASDAQ:MDCO) opened at 35.41 on Friday. The company’s market capitalization is $2.47 billion. The Medicines has a 52-week low of $27.50 and a 52-week high of $43.00. The firm has a 50-day moving average of $38.65 and a 200 day moving average of $36.24.

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The Medicines (NASDAQ:MDCO) last released its earnings results on Wednesday, July 27th. The company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($1.16) by $0.54. The company had revenue of $54.70 million for 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 Medicines’s revenue was down 26.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.65) EPS. Equities analysts predict that The Medicines will post ($1.36) earnings per share for the current fiscal year.

In other The Medicines news, Director Hiroaki Shigeta sold 3,849 shares of the company’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $38.50, for a total transaction of $148,186.50. Following the completion of the transaction, the director now directly owns 23,547 shares in the company, valued at $906,559.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Clive Meanwell sold 1,377 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $40.00, for a total transaction of $55,080.00. Following the transaction, the chief executive officer now owns 339,168 shares of the company’s stock, valued at $13,566,720. The disclosure for this sale can be found here. Company insiders own 7.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of MDCO. Bridger Management LLC bought a new position in The Medicines during the first quarter worth $98,528,000. First Eagle Investment Management LLC bought a new position in The Medicines during the second quarter worth $18,668,000. Vanguard Group Inc. boosted its position in The Medicines by 3.9% in the second quarter. Vanguard Group Inc. now owns 5,423,391 shares of the company’s stock worth $182,388,000 after buying an additional 202,392 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in The Medicines by 10.9% in the first quarter. UBS Asset Management Americas Inc. now owns 2,053,184 shares of the company’s stock worth $65,230,000 after buying an additional 201,809 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in The Medicines during the second quarter worth $6,288,000.

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