The Medicines Company (MDCO) Position Raised by KBC Group NV
KBC Group NV grew its holdings in shares of The Medicines Company (NASDAQ:MDCO) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 149,099 shares of the company’s stock after buying an additional 2,347 shares during the quarter. KBC Group NV owned 0.20% of The Medicines worth $5,523,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MDCO. Aperio Group LLC grew its stake in The Medicines by 25.6% during the second quarter. Aperio Group LLC now owns 28,973 shares of the company’s stock worth $1,101,000 after buying an additional 5,903 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in The Medicines by 7.6% during the second quarter. Municipal Employees Retirement System of Michigan now owns 17,050 shares of the company’s stock worth $648,000 after buying an additional 1,200 shares during the period. Great West Life Assurance Co. Can grew its stake in The Medicines by 4.4% during the second quarter. Great West Life Assurance Co. Can now owns 105,498 shares of the company’s stock worth $4,009,000 after buying an additional 4,464 shares during the period. Texas Permanent School Fund lifted its position in shares of The Medicines by 2.0% during the second quarter. Texas Permanent School Fund now owns 52,690 shares of the company’s stock worth $2,003,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its position in shares of The Medicines by 16.9% during the second quarter. Candriam Luxembourg S.C.A. now owns 90,000 shares of the company’s stock worth $3,421,000 after purchasing an additional 13,000 shares in the last quarter.
MDCO has been the topic of a number of recent research reports. Cowen reissued a “buy” rating and set a $54.00 target price (down from $61.00) on shares of The Medicines in a research report on Thursday, August 10th. Oppenheimer raised shares of The Medicines from a “market perform” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Wednesday, November 29th. TheStreet cut shares of The Medicines from a “c-” rating to a “d” rating in a research report on Wednesday, August 9th. Citigroup reduced their target price on shares of The Medicines from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday, August 14th. Finally, Jefferies Group reissued a “buy” rating and set a $54.00 target price on shares of The Medicines in a research report on Thursday, September 14th. 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 stock. The Medicines currently has an average rating of “Buy” and a consensus price target of $53.67.
In related news, Director Alexander J. Denner purchased 170,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were purchased at an average cost of $30.03 per share, with a total value of $5,105,100.00. Following the completion of the acquisition, the director now directly owns 6,663 shares of the company’s stock, valued at approximately $200,089.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.22% of the company’s stock.
Shares of The Medicines Company (NASDAQ MDCO) opened at $26.53 on Thursday. 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 Company has a twelve month low of $26.27 and a twelve month high of $55.95.
The Medicines (NASDAQ:MDCO) last posted its quarterly earnings results on Wednesday, October 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.37) by $0.95. The firm had revenue of $16.87 million for the quarter, compared to analysts’ expectations of $26.06 million. The Medicines had a negative net margin of 767.94% and a negative return on equity of 174.68%. The firm’s quarterly revenue was down 55.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.64) earnings per share. research analysts forecast that The Medicines Company will post -8.86 EPS for the current year.
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The Medicines 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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