California Public Employees Retirement System Sells 33,100 Shares of The Medicines Company (MDCO)

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California Public Employees Retirement System trimmed its position in The Medicines Company (NASDAQ:MDCO) by 21.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,500 shares of the company’s stock after selling 33,100 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of The Medicines worth $4,532,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Northern Trust Corp grew its holdings in shares of The Medicines by 0.4% during the first quarter. Northern Trust Corp now owns 891,626 shares of the company’s stock worth $29,371,000 after buying an additional 3,748 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of The Medicines by 29.4% during the first quarter. PNC Financial Services Group Inc. now owns 10,545 shares of the company’s stock worth $348,000 after buying an additional 2,398 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of The Medicines by 2.9% during the first quarter. Principal Financial Group Inc. now owns 514,595 shares of the company’s stock worth $16,950,000 after buying an additional 14,611 shares in the last quarter. UBS Group AG grew its holdings in shares of The Medicines by 9.8% during the first quarter. UBS Group AG now owns 45,642 shares of the company’s stock worth $1,503,000 after buying an additional 4,059 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in The Medicines by 3.2% in the first quarter. Legal & General Group Plc now owns 138,182 shares of the company’s stock valued at $4,564,000 after purchasing an additional 4,321 shares during the period.

A number of research firms recently issued reports on MDCO. Zacks Investment Research upgraded shares of The Medicines from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Tuesday, August 7th. Oppenheimer set a $50.00 target price on shares of The Medicines and gave the company a “buy” rating in a report on Thursday, August 16th. BidaskClub downgraded shares of The Medicines from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. Citigroup boosted their target price on shares of The Medicines from $40.00 to $50.00 and gave the company a “buy” rating in a report on Monday, August 20th. Finally, ValuEngine downgraded shares of The Medicines from a “buy” rating to a “hold” rating in a report on Monday, September 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $53.71.

The Medicines stock traded down $0.20 during trading on Friday, reaching $23.79. The company had a trading volume of 970,469 shares, compared to its average volume of 910,131. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -2.83 and a beta of 1.06. The company has a debt-to-equity ratio of 31.23, a quick ratio of 2.55 and a current ratio of 2.60. The Medicines Company has a 12-month low of $23.22 and a 12-month high of $41.57.

The Medicines (NASDAQ:MDCO) last announced its quarterly earnings results on Thursday, November 8th. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.13). The business had revenue of ($3.30) million for the quarter, compared to analyst estimates of $1.88 million. The Medicines had a negative net margin of 668.93% and a negative return on equity of 394.33%. The company’s quarterly revenue was down 141.8% on a year-over-year basis. During the same period last year, the firm earned ($1.19) earnings per share. Sell-side analysts predict that The Medicines Company will post -2.52 EPS for the current year.

In other The Medicines news, CEO Clive Meanwell sold 50,000 shares of The Medicines 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 transaction, the chief executive officer now directly owns 352,409 shares of the company’s stock, valued at $13,853,197.79. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 10.29% of the company’s stock.

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The Medicines Company Profile

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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Institutional Ownership by Quarter for The Medicines (NASDAQ:MDCO)

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