Brokerages predict that The Medicines Company (NASDAQ:MDCO) will post ($0.48) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for The Medicines’ earnings. The lowest EPS estimate is ($0.65) and the highest is ($0.28). The Medicines posted earnings of ($0.42) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 14.3%. The company is scheduled to issue its next quarterly earnings report on Wednesday, October 24th.
According to Zacks, analysts expect that The Medicines will report full-year earnings of ($2.28) per share for the current fiscal year, with EPS estimates ranging from ($2.58) to ($1.97). For the next fiscal year, analysts forecast that the company will post earnings of ($1.75) per share, with EPS estimates ranging from ($2.42) to ($0.94). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow The Medicines.
The Medicines (NASDAQ:MDCO) last issued its quarterly earnings results on Wednesday, August 1st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.30. The Medicines had a negative net margin of 668.93% and a negative return on equity of 394.33%. The company had revenue of $1.67 million during the quarter, compared to analysts’ expectations of $7.20 million. During the same quarter in the previous year, the company earned ($0.72) EPS. The Medicines’s revenue was down 84.6% on a year-over-year basis.
Shares of NASDAQ:MDCO traded down $0.02 during trading on Monday, hitting $26.23. 778,631 shares of the company’s stock were exchanged, compared to its average volume of 1,024,604. The Medicines has a 1-year low of $24.45 and a 1-year high of $41.57. The company has a debt-to-equity ratio of 31.23, a current ratio of 2.60 and a quick ratio of 2.55. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -3.12 and a beta of 0.79.
In related news, CEO Clive Meanwell sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $39.31, for a total transaction of $1,965,500.00. Following the completion of the transaction, the chief executive officer now owns 352,409 shares in the company, valued at $13,853,197.79. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.29% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MDCO. CIBC Asset Management Inc acquired a new position in shares of The Medicines in the second quarter valued at approximately $210,000. NumerixS Investment Technologies Inc acquired a new position in shares of The Medicines in the second quarter valued at approximately $229,000. Xact Kapitalforvaltning AB boosted its holdings in shares of The Medicines by 28.9% in the first quarter. Xact Kapitalforvaltning AB now owns 10,260 shares of the company’s stock valued at $338,000 after buying an additional 2,300 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of The Medicines by 29.4% in the first quarter. PNC Financial Services Group Inc. now owns 10,545 shares of the company’s stock valued at $348,000 after buying an additional 2,398 shares during the period. Finally, Ontario Teachers Pension Plan Board acquired a new position in shares of The Medicines in the second quarter valued at approximately $443,000.
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.
Featured Story: Understanding each part of a balance sheet
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for The Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Medicines and related companies with MarketBeat.com's FREE daily email newsletter.