Swiss National Bank Purchases 1,900 Shares of The Medicines Company (MDCO)
Swiss National Bank boosted its position in The Medicines Company (NASDAQ:MDCO) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,650 shares of the company’s stock after purchasing an additional 1,900 shares during the quarter. Swiss National Bank owned about 166,093.06% of The Medicines worth $4,469,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MDCO. PNC Financial Services Group Inc. boosted its stake in The Medicines by 341.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,109 shares of the company’s stock valued at $104,000 after purchasing an additional 1,631 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in The Medicines by 10.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,753 shares of the company’s stock valued at $105,000 after purchasing an additional 264 shares during the period. First Mercantile Trust Co. boosted its stake in The Medicines by 2.5% in the 2nd quarter. First Mercantile Trust Co. now owns 4,767 shares of the company’s stock valued at $181,000 after purchasing an additional 114 shares during the period. Bluefin Trading LLC bought a new stake in The Medicines in the 2nd quarter valued at $214,000. Finally, Ameritas Investment Partners Inc. boosted its stake in The Medicines by 4.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,058 shares of the company’s stock valued at $230,000 after purchasing an additional 243 shares during the period.
A number of research firms have recently weighed in on MDCO. Oppenheimer Holdings, Inc. set a $50.00 target price on The Medicines and gave the company a “hold” rating in a research report on Thursday, October 26th. Jefferies Group LLC reiterated a “buy” rating and set a $54.00 target price on shares of The Medicines in a research report on Thursday, October 26th. Guggenheim began coverage on The Medicines in a research report on Monday, October 23rd. They set a “buy” rating and a $45.00 target price for the company. Zacks Investment Research downgraded The Medicines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 10th. Finally, Chardan Capital reiterated a “buy” rating and set a $85.00 target price on shares of The Medicines in a research report on Wednesday, September 20th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $53.67.
The Medicines Company (NASDAQ MDCO) opened at $31.40 on Thursday. The Medicines Company has a fifty-two week low of $28.00 and a fifty-two week high of $55.95. The company has a quick ratio of 1.79, a current ratio of 2.31 and a debt-to-equity ratio of 3.42.
The Medicines (NASDAQ:MDCO) last issued its earnings results on Wednesday, October 25th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.95. The Medicines had a negative return on equity of 174.68% and a negative net margin of 767.94%. The business had revenue of $16.87 million during the quarter, compared to analysts’ expectations of $26.06 million. During the same quarter in the prior year, the firm earned ($0.64) EPS. The business’s revenue for the quarter was down 55.1% compared to the same quarter last year. analysts anticipate that The Medicines Company will post -8.84 EPS for the current fiscal year.
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The Medicines Company 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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