Sarissa Capital Management LP raised its holdings in The Medicines Company (NASDAQ:MDCO) by 9.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,922,000 shares of the company’s stock after purchasing an additional 170,000 shares during the quarter. The Medicines accounts for 13.5% of Sarissa Capital Management LP’s investment portfolio, making the stock its 3rd largest position. Sarissa Capital Management LP owned approximately 2.64% of The Medicines worth $52,547,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Candriam Luxembourg S.C.A. grew its stake in The Medicines by 13.3% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 102,000 shares of the company’s stock valued at $3,778,000 after purchasing an additional 12,000 shares during the period. Atria Investments LLC bought a new position in The Medicines in the 4th quarter valued at $297,000. Macquarie Group Ltd. grew its stake in The Medicines by 12.0% in the 3rd quarter. Macquarie Group Ltd. now owns 978,051 shares of the company’s stock valued at $36,227,000 after purchasing an additional 104,869 shares during the period. University of Notre Dame DU Lac grew its stake in The Medicines by 35.7% in the 3rd quarter. University of Notre Dame DU Lac now owns 192,551 shares of the company’s stock valued at $7,132,000 after purchasing an additional 50,655 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new position in The Medicines in the 3rd quarter valued at $534,000.
In other news, CEO Clive Meanwell sold 136,250 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $27.24, for a total transaction of $3,711,450.00. Following the transaction, the chief executive officer now owns 587,652 shares of the company’s stock, valued at approximately $16,007,640.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.22% of the stock is owned by corporate insiders.
The Medicines (NASDAQ:MDCO) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($2.19) EPS for the quarter, missing analysts’ consensus estimates of ($1.48) by ($0.71). The Medicines had a negative net margin of 1,035.27% and a negative return on equity of 316.40%. The firm had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $20.71 million. During the same period in the prior year, the company earned ($1.19) EPS. The firm’s quarterly revenue was down 50.6% on a year-over-year basis. sell-side analysts forecast that The Medicines Company will post -2.65 earnings per share for the current fiscal year.
A number of research analysts have issued reports on MDCO shares. Oppenheimer upgraded The Medicines from a “market perform” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday, November 29th. ValuEngine upgraded The Medicines from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Citigroup upgraded The Medicines from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Monday, January 22nd. Zacks Investment Research upgraded The Medicines from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Tuesday, February 6th. Finally, Jefferies Group restated a “buy” rating and issued a $47.00 price objective on shares of The Medicines in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $51.00.
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).
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