Pictet Asset Management Ltd. bought a new position in The Medicines Company (NASDAQ:MDCO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 427,067 shares of the company’s stock, valued at approximately $15,819,000. Pictet Asset Management Ltd. owned approximately 0.59% of The Medicines as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in MDCO. Westfield Capital Management Co. LP lifted its holdings in shares of The Medicines by 947.1% in the second quarter. Westfield Capital Management Co. LP now owns 2,031,359 shares of the company’s stock worth $77,212,000 after buying an additional 1,837,359 shares in the last quarter. Iridian Asset Management LLC CT lifted its holdings in shares of The Medicines by 21.7% in the second quarter. Iridian Asset Management LLC CT now owns 3,677,746 shares of the company’s stock worth $139,791,000 after buying an additional 655,065 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of The Medicines by 24.1% in the second quarter. Franklin Resources Inc. now owns 1,765,169 shares of the company’s stock worth $67,093,000 after buying an additional 343,160 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of The Medicines by 44.4% in the second quarter. Macquarie Group Ltd. now owns 873,182 shares of the company’s stock worth $33,190,000 after buying an additional 268,282 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of The Medicines by 9.0% in the second quarter. State Street Corp now owns 2,220,199 shares of the company’s stock worth $84,391,000 after buying an additional 183,086 shares in the last quarter.

Several equities analysts have recently commented on MDCO shares. Citigroup Inc. lowered their target price on shares of The Medicines from $59.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, July 17th. Zacks Investment Research raised shares of The Medicines from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, August 8th. Cowen and Company reissued a “buy” rating and issued a $54.00 target price (down previously from $61.00) on shares of The Medicines in a report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $54.00 price target (down previously from $62.00) on shares of The Medicines in a research note on Thursday, August 10th. Finally, TheStreet downgraded shares of The Medicines from a “c-” rating to a “d” rating in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.18.

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The Medicines Company (MDCO) opened at $29.73 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.85 and a debt-to-equity ratio of 2.14.

The Medicines (NASDAQ:MDCO) last posted its quarterly earnings data on Wednesday, October 25th. The company reported ($0.42) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.37) by $0.95. The Medicines had a negative net margin of 767.94% and a negative return on equity of 149.81%. The business had revenue of $16.87 million for the quarter, compared to analysts’ expectations of $26.06 million. During the same quarter in the previous year, the business posted ($0.64) earnings per share. The business’s revenue was down 55.1% compared to the same quarter last year. equities analysts expect that The Medicines Company will post -9.02 earnings per share for the current year.

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).

Institutional Ownership by Quarter for The Medicines (NASDAQ:MDCO)

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