The Medicines Company to Post FY2021 Earnings of $0.83 Per Share, Oppenheimer Forecasts (MDCO)

The Medicines Company (NASDAQ:MDCO) – Equities research analysts at Oppenheimer upped their FY2021 earnings estimates for The Medicines in a report released on Wednesday. Oppenheimer analyst J. Olson now expects that the company will post earnings per share of $0.83 for the year, up from their previous estimate of $0.70. Oppenheimer has a “Buy” rating and a $50.00 price target on the stock.

The Medicines (NASDAQ:MDCO) last posted its earnings results on Wednesday, October 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.95. The company had revenue of $16.87 million for the quarter, compared to analysts’ expectations of $26.06 million. The Medicines had a negative return on equity of 174.68% and a negative net margin of 767.94%. The firm’s quarterly revenue was down 55.1% compared to the same quarter last year. During the same period last year, the business posted ($0.64) earnings per share.

A number of other equities research analysts have also recently issued reports on MDCO. Zacks Investment Research upgraded The Medicines from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, August 8th. Cowen reiterated a “buy” rating and issued a $54.00 target price (down from $61.00) on shares of The Medicines in a research note on Thursday, August 10th. Jefferies Group reiterated a “buy” rating and issued a $54.00 target price (down from $62.00) on shares of The Medicines in a research note on Thursday, August 10th. TheStreet cut The Medicines from a “c-” rating to a “d” rating in a research note on Wednesday, August 9th. Finally, Citigroup cut their target price on The Medicines from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. The Medicines currently has a consensus rating of “Buy” and a consensus price target of $53.67.

Shares of The Medicines (NASDAQ MDCO) opened at $28.50 on Friday. The company has a debt-to-equity ratio of 3.42, a current ratio of 2.31 and a quick ratio of 1.79. The Medicines has a one year low of $27.77 and a one year high of $55.95.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. First Mercantile Trust Co. raised its stake in shares of The Medicines by 2.5% during the second quarter. First Mercantile Trust Co. now owns 4,767 shares of the company’s stock valued at $181,000 after purchasing an additional 114 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in The Medicines by 0.6% during the second quarter. State Board of Administration of Florida Retirement System now owns 39,599 shares of the company’s stock worth $1,505,000 after acquiring an additional 219 shares during the period. Ameritas Investment Partners Inc. grew its holdings in The Medicines by 4.2% during the second quarter. Ameritas Investment Partners Inc. now owns 6,058 shares of the company’s stock worth $230,000 after acquiring an additional 243 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in The Medicines by 10.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,753 shares of the company’s stock worth $105,000 after acquiring an additional 264 shares during the period. Finally, Arizona State Retirement System grew its holdings in The Medicines by 1.1% during the second quarter. Arizona State Retirement System now owns 37,596 shares of the company’s stock worth $1,429,000 after acquiring an additional 400 shares during the period.

In related news, Director Alexander J. Denner acquired 170,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were acquired at an average cost of $30.03 per share, for a total transaction of $5,105,100.00. Following the completion of the purchase, the director now directly owns 6,663 shares in the company, valued at $200,089.89. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.22% of the stock is owned by insiders.

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The Medicines Company Profile

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).

Earnings History and Estimates for The Medicines (NASDAQ:MDCO)

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