Wall Street analysts expect that The Medicines Company (NASDAQ:MDCO) will report earnings of ($1.48) per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for The Medicines’ earnings, with the highest EPS estimate coming in at ($1.11) and the lowest estimate coming in at ($1.72). The Medicines reported earnings of ($1.77) per share in the same quarter last year, which suggests a positive year over year growth rate of 16.4%. The company is expected to announce its next quarterly earnings report on Tuesday, February 27th.
On average, analysts expect that The Medicines will report full year earnings of ($8.86) per share for the current year, with EPS estimates ranging from ($9.10) to ($8.48). For the next fiscal year, analysts expect that the business will report earnings of ($2.81) per share, with EPS estimates ranging from ($3.87) to ($1.75). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for The Medicines.
Several research firms recently commented on MDCO. Zacks Investment Research upgraded The Medicines from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Tuesday. JPMorgan Chase & Co. restated an “overweight” rating and issued a $45.00 target price on shares of The Medicines in a research report on Wednesday, January 24th. BidaskClub upgraded The Medicines from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 25th. ValuEngine raised The Medicines from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Citigroup raised The Medicines from a “sell” rating to an “outperform” rating in a research note on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. The Medicines currently has an average rating of “Buy” and an average target price of $51.70.
In related news, Director Alexander J. Denner acquired 170,000 shares of The Medicines stock in a transaction dated Wednesday, November 29th. The stock was acquired at an average cost of $30.03 per share, with a total value of $5,105,100.00. Following the purchase, the director now directly owns 6,663 shares in the company, valued at approximately $200,089.89. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Clive Meanwell sold 136,250 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $27.24, for a total value of $3,711,450.00. Following the sale, the chief executive officer now directly owns 587,652 shares of the company’s stock, valued at $16,007,640.48. The disclosure for this sale can be found here. Company insiders own 8.22% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MDCO. Westfield Capital Management Co. LP boosted its stake in shares of The Medicines by 21.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 2,476,778 shares of the company’s stock worth $91,740,000 after acquiring an additional 445,419 shares in the last quarter. Pictet Asset Management Ltd. bought a new stake in shares of The Medicines during the 3rd quarter worth $15,819,000. Iridian Asset Management LLC CT boosted its stake in shares of The Medicines by 23.2% during the 4th quarter. Iridian Asset Management LLC CT now owns 2,170,215 shares of the company’s stock worth $59,334,000 after acquiring an additional 408,177 shares in the last quarter. State Street Corp boosted its stake in shares of The Medicines by 9.0% during the 2nd quarter. State Street Corp now owns 2,220,199 shares of the company’s stock worth $84,391,000 after acquiring an additional 183,086 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of The Medicines by 102.6% during the 2nd quarter. Renaissance Technologies LLC now owns 328,832 shares of the company’s stock worth $12,499,000 after acquiring an additional 166,500 shares in the last quarter.
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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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