Clearline Capital LP bought a new position in shares of The Medicines Company (NASDAQ:MDCO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 99,891 shares of the company’s stock, valued at approximately $2,731,000. The Medicines accounts for 1.4% of Clearline Capital LP’s portfolio, making the stock its 19th largest holding. Clearline Capital LP owned 0.14% of The Medicines at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDCO. Slate Path Capital LP raised its stake in The Medicines by 55.9% during the 4th quarter. Slate Path Capital LP now owns 1,730,000 shares of the company’s stock worth $47,298,000 after acquiring an additional 620,000 shares during the period. Carillon Tower Advisers Inc. bought a new stake in The Medicines during the 4th quarter worth approximately $15,278,000. Westfield Capital Management Co. LP raised its stake in 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 during the period. Iridian Asset Management LLC CT raised its stake in 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 during the period. Finally, Broadfin Capital LLC bought a new stake in The Medicines during the 4th quarter worth approximately $10,015,000.
In related news, CEO Clive Meanwell sold 136,250 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $27.24, for a total value of $3,711,450.00. Following the completion of the transaction, the chief executive officer now directly owns 587,652 shares of the company’s stock, valued at $16,007,640.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 8.22% of the company’s stock.
The Medicines (NASDAQ:MDCO) last posted its earnings results on Wednesday, February 21st. The company reported ($2.19) earnings per share 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 business had revenue of $8.60 million during the quarter, compared to analysts’ expectations of $20.71 million. During the same period last year, the business posted ($1.19) earnings per share. The company’s revenue for the quarter was down 50.6% compared to the same quarter last year. sell-side analysts expect that The Medicines Company will post -2.65 EPS for the current year.
MDCO has been the topic of several recent analyst reports. Oppenheimer upgraded shares of The Medicines from a “market perform” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Wednesday, November 29th. ValuEngine upgraded shares of The Medicines from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Citigroup upgraded shares of The Medicines from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Monday, January 22nd. Zacks Investment Research upgraded shares of The Medicines from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Tuesday, February 6th. Finally, Jefferies Group reiterated a “buy” rating and set a $47.00 price objective on shares of The Medicines in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $51.00.
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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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