The Medicines Company (MDCO) Position Boosted by Arizona State Retirement System

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Arizona State Retirement System lifted its stake in The Medicines Company (NASDAQ:MDCO) by 6.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 101,235 shares of the company’s stock after purchasing an additional 5,965 shares during the quarter. Arizona State Retirement System owned 0.14% of The Medicines worth $1,938,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of The Medicines in the 3rd quarter valued at $818,000. MetLife Investment Advisors LLC boosted its position in shares of The Medicines by 55.0% in the 3rd quarter. MetLife Investment Advisors LLC now owns 49,654 shares of the company’s stock valued at $1,485,000 after purchasing an additional 17,616 shares during the period. Vanguard Group Inc boosted its position in shares of The Medicines by 2.5% in the 3rd quarter. Vanguard Group Inc now owns 6,681,573 shares of the company’s stock valued at $199,846,000 after purchasing an additional 162,702 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of The Medicines in the 3rd quarter valued at $2,919,000. Finally, Legal & General Group Plc boosted its position in shares of The Medicines by 8.9% in the 3rd quarter. Legal & General Group Plc now owns 154,079 shares of the company’s stock valued at $4,598,000 after purchasing an additional 12,563 shares during the period.

In other news, CEO Mark Timney purchased 2,926 shares of the business’s stock in a transaction dated Friday, December 21st. The stock was bought at an average cost of $17.90 per share, with a total value of $52,375.40. Following the purchase, the chief executive officer now directly owns 29,789 shares of the company’s stock, valued at $533,223.10. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alexander J. Denner purchased 819,000 shares of the business’s stock in a transaction dated Friday, December 14th. The shares were purchased at an average cost of $20.26 per share, with a total value of $16,592,940.00. Following the completion of the purchase, the director now directly owns 10,429 shares in the company, valued at $211,291.54. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,052,589 shares of company stock valued at $20,865,236 over the last 90 days. Corporate insiders own 10.29% of the company’s stock.

Shares of NASDAQ MDCO opened at $23.74 on Thursday. The Medicines Company has a one year low of $16.69 and a one year high of $41.57. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -2.83 and a beta of 1.18. The company has a debt-to-equity ratio of 31.23, a current ratio of 2.41 and a quick ratio of 2.40.

MDCO has been the subject of a number of recent analyst reports. Cowen set a $46.00 price target on The Medicines and gave the company a “buy” rating in a research report on Sunday, November 11th. Oppenheimer set a $50.00 price target on The Medicines and gave the company a “buy” rating in a research report on Friday, November 9th. BidaskClub upgraded The Medicines from a “sell” rating to a “hold” rating in a research report on Saturday, February 2nd. Zacks Investment Research upgraded The Medicines from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Finally, Goldman Sachs Group started coverage on The Medicines in a research report on Thursday, December 13th. They set a “neutral” rating and a $25.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $45.29.

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

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