The Medicines Company (MDCO) to Post FY2017 Earnings of ($8.93) Per Share, Oppenheimer Holdings Forecasts
The Medicines Company (NASDAQ:MDCO) – Research analysts at Oppenheimer Holdings lifted their FY2017 earnings per share estimates for The Medicines in a research note issued on Thursday. Oppenheimer Holdings analyst J. Olson now anticipates that the company will post earnings per share of ($8.93) for the year, up from their previous estimate of ($9.82). Oppenheimer Holdings has a “Hold” rating and a $50.00 price objective on the stock. Oppenheimer Holdings also issued estimates for The Medicines’ Q4 2017 earnings at ($1.55) EPS, FY2019 earnings at ($1.43) EPS, FY2020 earnings at ($0.86) EPS and FY2021 earnings at $0.70 EPS.
Other research analysts also recently issued reports about the company. Citigroup Inc. cut their price objective on The Medicines from $59.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, July 17th. Zacks Investment Research upgraded The Medicines from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, August 8th. Cowen and Company reaffirmed a “buy” rating and set a $54.00 price objective (down from $61.00) on shares of The Medicines in a report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $54.00 price objective (down from $62.00) on shares of The Medicines in a report on Thursday, August 10th. Finally, TheStreet cut The Medicines from a “c-” rating to a “d” rating in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. The Medicines currently has a consensus rating of “Buy” and a consensus price target of $53.18.
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The Medicines (MDCO) opened at 28.30 on Monday. The firm’s 50-day moving average is $35.07 and its 200-day moving average is $39.46. The company’s market cap is $2.04 billion. The Medicines has a 12 month low of $28.00 and a 12 month high of $55.95.
The Medicines (NASDAQ:MDCO) last posted its quarterly earnings results on Wednesday, October 25th. The company reported ($0.42) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.37) by $0.95. The company had revenue of $16.87 million during the quarter, compared to analyst estimates of $26.06 million. The Medicines had a negative net margin of 767.94% and a negative return on equity of 149.81%. The firm’s revenue for the quarter was down 55.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.64) earnings per share.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Westfield Capital Management Co. LP boosted its stake in shares of The Medicines by 947.1% in the second quarter. Westfield Capital Management Co. LP now owns 2,031,359 shares of the company’s stock worth $77,212,000 after acquiring an additional 1,837,359 shares during the last quarter. Iridian Asset Management LLC CT boosted its stake in The Medicines by 21.7% during the second quarter. Iridian Asset Management LLC CT now owns 3,677,746 shares of the company’s stock worth $139,791,000 after buying an additional 655,065 shares during the last quarter. Pictet Asset Management Ltd. acquired a new position in The Medicines during the third quarter worth $15,819,000. Franklin Resources Inc. boosted its stake in The Medicines by 24.1% during the second quarter. Franklin Resources Inc. now owns 1,765,169 shares of the company’s stock worth $67,093,000 after buying an additional 343,160 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in The Medicines by 5.4% during the first quarter. Vanguard Group Inc. now owns 6,090,730 shares of the company’s stock worth $297,837,000 after buying an additional 313,876 shares during the last quarter.
About The Medicines
The Medicines Company is a global biopharmaceutical company. The Company is focused on advancing the treatment of acute and intensive care patients through the delivery of medicines to the hospital marketplace around the world. It markets Angiomax (bivalirudin), Ionsys (fentanyl iontophoretic transdermal system), Minocin (minocycline) for injection and Orbactiv (oritavancin).
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