The Medicines Company (MDCO) Expected to Post Quarterly Sales of $3.68 Million
Analysts expect The Medicines Company (NASDAQ:MDCO) to announce $3.68 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for The Medicines’ earnings, with the highest sales estimate coming in at $9.28 million and the lowest estimate coming in at $1.50 million. The Medicines posted sales of $16.87 million during the same quarter last year, which suggests a negative year over year growth rate of 78.2%. The business is expected to issue its next quarterly earnings report on Wednesday, October 24th.
On average, analysts expect that The Medicines will report full-year sales of $15.16 million for the current financial year, with estimates ranging from $12.00 million to $27.66 million. For the next year, analysts anticipate that the business will report sales of $25.39 million, with estimates ranging from $5.10 million to $74.90 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow The Medicines.
The Medicines (NASDAQ:MDCO) last posted its quarterly earnings data on Wednesday, August 1st. The company reported ($0.70) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.00) by $0.30. The firm had revenue of $1.67 million during the quarter, compared to analysts’ expectations of $7.20 million. The Medicines had a negative net margin of 668.93% and a negative return on equity of 394.33%. The firm’s quarterly revenue was down 84.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.72) EPS.
Shares of NASDAQ:MDCO traded down $0.94 during mid-day trading on Friday, reaching $30.53. 47,175 shares of the company were exchanged, compared to its average volume of 736,581. The company has a debt-to-equity ratio of 31.23, a quick ratio of 2.55 and a current ratio of 2.60. The stock has a market capitalization of $2.42 billion, a P/E ratio of -3.73 and a beta of 0.77. The Medicines has a 1 year low of $24.45 and a 1 year high of $41.57.
In other The Medicines news, CEO Clive Meanwell sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $36.07, for a total value of $1,803,500.00. Following the completion of the transaction, the chief executive officer now owns 402,034 shares of the company’s stock, valued at approximately $14,501,366.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 150,000 shares of company stock valued at $5,731,000 in the last three months. 10.29% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its position in shares of The Medicines by 1.7% during the 2nd quarter. Northern Trust Corp now owns 906,505 shares of the company’s stock worth $33,269,000 after purchasing an additional 14,879 shares during the last quarter. 683 Capital Management LLC lifted its position in shares of The Medicines by 8.5% during the 2nd quarter. 683 Capital Management LLC now owns 127,252 shares of the company’s stock worth $4,670,000 after purchasing an additional 10,000 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of The Medicines by 797.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 211,686 shares of the company’s stock worth $790,000 after purchasing an additional 188,086 shares during the last quarter. Granahan Investment Management Inc. MA lifted its position in shares of The Medicines by 15.3% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 553,848 shares of the company’s stock worth $20,326,000 after purchasing an additional 73,662 shares during the last quarter. Finally, Family Management Corp purchased a new stake in shares of The Medicines during the 2nd quarter worth $798,000.
About The Medicines
The Medicines Company, a biopharmaceutical company, provides medicines to treat acute and intensive care patients. The company markets Angiomax, an intravenous direct thrombin inhibitor used as an anticoagulant in combination with aspirin in patients with unstable angina undergoing percutaneous transluminal coronary angioplasty, and for patients undergoing percutaneous coronary intervention in the United States.
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