Legal & General Group Plc lifted its position in shares of The Medicines Company (NASDAQ:MDCO) by 2.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 141,516 shares of the company’s stock after buying an additional 3,334 shares during the quarter. Legal & General Group Plc owned about 0.19% of The Medicines worth $5,101,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of MDCO. State of Wisconsin Investment Board raised its stake in The Medicines by 2.6% during the second quarter. State of Wisconsin Investment Board now owns 70,100 shares of the company’s stock worth $2,573,000 after acquiring an additional 1,800 shares in the last quarter. Profund Advisors LLC grew its holdings in shares of The Medicines by 15.8% during the first quarter. Profund Advisors LLC now owns 14,146 shares of the company’s stock worth $466,000 after purchasing an additional 1,932 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of The Medicines by 1.4% during the first 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. Aperio Group LLC grew its holdings in shares of The Medicines by 8.5% during the second quarter. Aperio Group LLC now owns 28,013 shares of the company’s stock worth $1,028,000 after purchasing an additional 2,203 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its holdings in shares of The Medicines by 28.9% during the first quarter. Xact Kapitalforvaltning AB now owns 10,260 shares of the company’s stock worth $338,000 after purchasing an additional 2,300 shares during the last quarter.
MDCO has been the topic of several research reports. ValuEngine upgraded The Medicines from a “hold” rating to a “buy” rating in a report on Friday, July 6th. BidaskClub cut The Medicines from a “sell” rating to a “strong sell” rating in a report on Friday, September 28th. Oppenheimer set a $50.00 target price on The Medicines and gave the company a “buy” rating in a report on Thursday, August 16th. Zacks Investment Research upgraded The Medicines from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Tuesday, August 7th. Finally, Citigroup upped their target price on The Medicines from $40.00 to $50.00 and gave the company a “buy” rating in a report on Monday, August 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $52.63.
The Medicines (NASDAQ:MDCO) last issued its earnings results on Wednesday, August 1st. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.30. The company had revenue of $1.67 million for the quarter, compared to analyst estimates of $7.20 million. The Medicines had a negative return on equity of 394.33% and a negative net margin of 668.93%. The Medicines’s revenue for the quarter was down 84.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.72) earnings per share. Equities research analysts anticipate that The Medicines Company will post -2.52 earnings per share for the current fiscal year.
In related news, CEO Clive Meanwell sold 50,000 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $39.31, for a total value of $1,965,500.00. Following the completion of the sale, the chief executive officer now directly owns 352,409 shares of the company’s stock, valued at approximately $13,853,197.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.29% of the company’s stock.
About The Medicines
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.
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