Tyers Asset Management LLC increased its stake in shares of The Medicines Company (NASDAQ:MDCO) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,664 shares of the company’s stock after purchasing an additional 392 shares during the quarter. Tyers Asset Management LLC’s holdings in The Medicines were worth $498,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MDCO. Neuburgh Advisers LLC boosted its stake in The Medicines by 3.0% in the 2nd quarter. Neuburgh Advisers LLC now owns 10,736 shares of the company’s stock worth $391,000 after buying an additional 308 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in The Medicines by 2.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 19,660 shares of the company’s stock worth $717,000 after acquiring an additional 390 shares during the period. Bank of Montreal Can boosted its position in The Medicines by 13.3% during the 1st quarter. Bank of Montreal Can now owns 3,556 shares of the company’s stock worth $99,000 after acquiring an additional 417 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of The Medicines by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,460 shares of the company’s stock worth $712,000 after buying an additional 460 shares in the last quarter. Finally, Flinton Capital Management LLC raised its stake in shares of The Medicines by 3.0% in the 2nd quarter. Flinton Capital Management LLC now owns 16,592 shares of the company’s stock worth $605,000 after buying an additional 476 shares in the last quarter.

A number of research analysts have commented on MDCO shares. Robert W. Baird restated an “overweight” rating and issued a $110.00 target price (up previously from $80.00) on shares of The Medicines in a research note on Monday, May 20th. Citigroup increased their target price on The Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. B. Riley set a $61.00 target price on The Medicines and gave the company a “buy” rating in a research note on Monday, August 26th. ValuEngine upgraded The Medicines from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 26th. Finally, Cowen set a $48.00 price target on The Medicines and gave the company a “buy” rating in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $69.67.

In related news, EVP Stephen M. Rodin sold 5,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $34.82, for a total transaction of $174,100.00. Following the completion of the transaction, the executive vice president now owns 33,139 shares in the company, valued at $1,153,899.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alexander J. Denner bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $33.00 per share, with a total value of $1,650,000.00. Following the transaction, the director now owns 14,092 shares of the company’s stock, valued at approximately $465,036. The disclosure for this purchase can be found here. Corporate insiders own 8.41% of the company’s stock.

MDCO traded down $0.72 on Friday, hitting $47.82. The company’s stock had a trading volume of 28,765 shares, compared to its average volume of 3,057,414. The company’s 50 day simple moving average is $37.91 and its 200-day simple moving average is $33.30. The company has a quick ratio of 5.97, a current ratio of 5.97 and a debt-to-equity ratio of 21.45. The Medicines Company has a 12 month low of $16.69 and a 12 month high of $49.07. The firm has a market cap of $3.86 billion, a P/E ratio of -16.72 and a beta of 0.93.

The Medicines (NASDAQ:MDCO) last issued its earnings results on Wednesday, July 24th. The company reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.02. During the same quarter in the previous year, the firm posted ($0.63) earnings per share. Equities analysts predict that The Medicines Company will post -3.26 earnings per share for the current fiscal year.

The Medicines Company Profile

The Medicines Company, a biopharmaceutical company, focuses on developing therapeutics for the treatment of therosclerotic cardiovascular disease. The company is developing Inclisiran, an investigational RNA interference therapeutic that inhibits production of proprotein convertase subtilisin/kexin type 9, which controls LDL-cholesterol levels.

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

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