Broadfin Capital LLC Has $14,811,000 Position in The Medicines Company (MDCO)
Broadfin Capital LLC raised its position in shares of The Medicines Company (NASDAQ:MDCO) by 70.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 436,400 shares of the company’s stock after buying an additional 180,800 shares during the period. The Medicines Company accounts for 1.6% of Broadfin Capital LLC’s portfolio, making the stock its 17th largest position. Broadfin Capital LLC owned 0.62% of The Medicines Company worth $14,811,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Teachers Advisors LLC increased its position in The Medicines Company by 18.1% in the third quarter. Teachers Advisors LLC now owns 361,332 shares of the company’s stock worth $13,637,000 after buying an additional 55,272 shares during the period. Panagora Asset Management Inc. increased its position in The Medicines Company by 26.9% in the third quarter. Panagora Asset Management Inc. now owns 482,458 shares of the company’s stock worth $18,208,000 after buying an additional 102,164 shares during the period. Macquarie Group Ltd. increased its position in The Medicines Company by 27.6% in the second quarter. Macquarie Group Ltd. now owns 532,035 shares of the company’s stock worth $17,892,000 after buying an additional 115,218 shares during the period. HighVista Strategies LLC increased its position in The Medicines Company by 32.0% in the third quarter. HighVista Strategies LLC now owns 268,240 shares of the company’s stock worth $10,123,000 after buying an additional 65,040 shares during the period. Finally, BlackRock Investment Management LLC increased its position in The Medicines Company by 0.4% in the third quarter. BlackRock Investment Management LLC now owns 285,535 shares of the company’s stock worth $10,776,000 after buying an additional 1,123 shares during the period.
Shares of The Medicines Company (NASDAQ:MDCO) traded up 0.46% on Thursday, hitting $52.80. 966,617 shares of the stock were exchanged. The stock’s market cap is $3.71 billion. The stock’s 50-day moving average is $39.74 and its 200-day moving average is $37.52. The Medicines Company has a 1-year low of $29.48 and a 1-year high of $52.85.
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MDCO has been the subject of a number of analyst reports. Royal Bank Of Canada decreased their price objective on shares of The Medicines Company from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, November 8th. Jefferies Group LLC reissued a “positive” rating and issued a $49.00 price objective on shares of The Medicines Company in a research report on Friday, January 6th. Guggenheim reissued a “buy” rating on shares of The Medicines Company in a research report on Friday, November 18th. Chardan Capital reissued a “buy” rating and issued a $65.00 price objective on shares of The Medicines Company in a research report on Sunday, January 8th. Finally, RBC Capital Markets lifted their price objective on shares of The Medicines Company from $45.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, November 16th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The Medicines Company has an average rating of “Buy” and an average target price of $51.56.
In related news, Director Fredric N. Eshelman bought 621,720 shares of the company’s stock in a transaction that occurred on Thursday, December 8th. The shares were bought at an average price of $33.77 per share, for a total transaction of $20,995,484.40. Following the transaction, the director now directly owns 641,106 shares of the company’s stock, valued at $21,650,149.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William Bernard O’connor sold 25,833 shares of the business’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $46.20, for a total transaction of $1,193,484.60. Following the transaction, the chief financial officer now owns 30,935 shares in the company, valued at approximately $1,429,197. The disclosure for this sale can be found here. 7.90% of the stock is owned by insiders.
About The Medicines Company
The Medicines Company is a global biopharmaceutical company. The Company’s marketed products include Angiomax (bivalirudin), Cleviprex (clevidipine) injectable emulsion, Ionsys (fentanyl iontophoretic transdermal system), Kengreal (cangrelor), Minocin (minocycline) for injection, and Orbactiv (oritavancin).
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