Texas Permanent School Fund boosted its stake in shares of The Medicines Company (NASDAQ:MDCO) by 6.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,228 shares of the company’s stock after purchasing an additional 2,880 shares during the quarter. Texas Permanent School Fund owned approximately 0.06% of The Medicines worth $2,511,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new position in The Medicines during the 2nd quarter valued at approximately $35,000. Meeder Asset Management Inc. acquired a new position in The Medicines during the 2nd quarter valued at approximately $44,000. Ladenburg Thalmann Financial Services Inc. boosted its position in The Medicines by 17.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,526 shares of the company’s stock valued at $92,000 after purchasing an additional 381 shares during the period. Nisa Investment Advisors LLC boosted its position in The Medicines by 705.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock valued at $145,000 after purchasing an additional 2,540 shares during the period. Finally, Strs Ohio acquired a new position in The Medicines during the 2nd quarter valued at approximately $120,000.
A number of research firms recently issued reports on MDCO. Cowen set a $48.00 price objective on The Medicines and gave the company a “buy” rating in a research report on Monday, August 26th. B. Riley boosted their price objective on The Medicines from $74.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Chardan Capital set a $90.00 price target on The Medicines and gave the stock a “buy” rating in a research report on Monday, August 26th. Bank of America reiterated a “buy” rating and set a $51.00 price target on shares of The Medicines in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. boosted their price target on The Medicines from $39.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $70.77.
Shares of The Medicines stock opened at $54.37 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 21.45. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of -18.68 and a beta of 0.90. The business has a fifty day simple moving average of $52.53 and a 200-day simple moving average of $40.30. The Medicines Company has a fifty-two week low of $16.69 and a fifty-two week high of $58.48.
The Medicines (NASDAQ:MDCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.92) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.80) by ($0.12). During the same quarter last year, the business posted ($0.70) earnings per share. Analysts anticipate that The Medicines Company will post -3.4 earnings per share for the current fiscal year.
The Medicines Company Profile
The Medicines Company, a biopharmaceutical company, focuses on developing therapeutics for the treatment of therosclerotic cardiovascular disease. The company is developing Inclisiran, an investigational RNA interference therapeutic that inhibits production of proprotein convertase subtilisin/kexin type 9, which controls LDL-cholesterol levels.
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