Traders Purchase Large Volume of The Medicines Put Options (MDCO)

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The Medicines Company (NASDAQ:MDCO) was the target of unusually large options trading activity on Tuesday. Stock investors acquired 18,805 put options on the stock. This represents an increase of approximately 1,831% compared to the average daily volume of 974 put options.

In other The Medicines news, CEO Mark Timney acquired 2,926 shares of the company’s stock in a transaction on Friday, December 21st. The stock was acquired at an average price of $17.90 per share, for a total transaction of $52,375.40. Following the purchase, the chief executive officer now directly owns 29,789 shares of the company’s stock, valued at $533,223.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alexander J. Denner acquired 819,000 shares of the company’s stock in a transaction on Friday, December 14th. The stock was acquired at an average price of $20.26 per share, with a total value of $16,592,940.00. Following the purchase, the director now directly owns 10,429 shares in the company, valued at $211,291.54. The disclosure for this purchase can be found here. Insiders acquired a total of 1,052,589 shares of company stock valued at $20,865,236 in the last quarter. Corporate insiders own 10.29% of the company’s stock.

Several large investors have recently modified their holdings of MDCO. Northern Trust Corp raised its position in shares of The Medicines by 1.7% in the 2nd quarter. Northern Trust Corp now owns 906,505 shares of the company’s stock valued at $33,269,000 after buying an additional 14,879 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of The Medicines by 114.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 16,695 shares of the company’s stock valued at $499,000 after buying an additional 8,915 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of The Medicines in the 3rd quarter valued at approximately $607,000. Comerica Bank raised its position in shares of The Medicines by 39.6% in the 3rd quarter. Comerica Bank now owns 95,978 shares of the company’s stock valued at $2,555,000 after buying an additional 27,209 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its position in shares of The Medicines by 23.5% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 136,500 shares of the company’s stock valued at $4,083,000 after buying an additional 26,000 shares in the last quarter.

Shares of NASDAQ:MDCO opened at $23.74 on Thursday. The company has a market capitalization of $1.80 billion, a PE ratio of -2.83 and a beta of 1.18. The company has a quick ratio of 2.40, a current ratio of 2.41 and a debt-to-equity ratio of 31.23. The Medicines has a 12 month low of $16.69 and a 12 month high of $41.57.

MDCO has been the subject of several analyst reports. Goldman Sachs Group initiated coverage on shares of The Medicines in a research note on Thursday, December 13th. They issued a “neutral” rating and a $25.00 price objective for the company. Wolfe Research initiated coverage on shares of The Medicines in a research note on Friday, December 14th. They issued an “outperform” rating for the company. Cowen set a $46.00 price objective on shares of The Medicines and gave the stock a “buy” rating in a research note on Sunday, November 11th. Oppenheimer set a $50.00 target price on shares of The Medicines and gave the company a “buy” rating in a research report on Friday, November 9th. Finally, Zacks Investment Research cut shares of The Medicines from a “hold” rating to a “sell” rating in a research report on Thursday, November 15th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $45.29.

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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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