FNY Investment Advisers LLC bought a new stake in shares of The Medicines Company (NASDAQ:MDCO) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,000 shares of the company’s stock, valued at approximately $335,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in MDCO. Iridian Asset Management LLC CT grew its position in The Medicines by 75.4% during the fourth quarter. Iridian Asset Management LLC CT now owns 3,296,816 shares of the company’s stock valued at $63,101,000 after buying an additional 1,417,229 shares during the period. Westfield Capital Management Co. LP grew its position in The Medicines by 21.6% during the fourth quarter. Westfield Capital Management Co. LP now owns 4,604,719 shares of the company’s stock valued at $88,134,000 after buying an additional 817,508 shares during the period. Oregon Public Employees Retirement Fund bought a new stake in The Medicines during the fourth quarter valued at approximately $25,000. Norges Bank bought a new stake in The Medicines during the fourth quarter valued at approximately $7,529,000. Finally, Tekla Capital Management LLC grew its position in The Medicines by 158.7% during the fourth quarter. Tekla Capital Management LLC now owns 428,992 shares of the company’s stock valued at $8,211,000 after buying an additional 263,151 shares during the period.
In other news, Director Alexander J. Denner purchased 100,000 shares of the stock in a transaction on Friday, March 1st. The shares were acquired at an average price of $25.15 per share, with a total value of $2,515,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alexander J. Denner purchased 248,100 shares of the stock in a transaction on Wednesday, March 6th. The shares were purchased at an average cost of $24.91 per share, for a total transaction of $6,180,171.00. The disclosure for this purchase can be found here. Insiders have acquired 673,100 shares of company stock worth $16,966,421 in the last ninety days. Insiders own 10.29% of the company’s stock.
Shares of NASDAQ:MDCO opened at $27.53 on Thursday. The Medicines Company has a 1-year low of $16.69 and a 1-year high of $41.57. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -9.46 and a beta of 1.31.
The Medicines (NASDAQ:MDCO) last issued its quarterly earnings results on Wednesday, February 27th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.09). During the same quarter last year, the firm earned ($0.61) EPS. As a group, equities research analysts forecast that The Medicines Company will post -2.51 EPS for the current fiscal year.
MDCO has been the subject of several recent research reports. Robert W. Baird initiated coverage on shares of The Medicines in a research report on Wednesday, March 27th. They set an “outperform” rating and a $80.00 target price for the company. BidaskClub upgraded shares of The Medicines from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 15th. Zacks Investment Research lowered shares of The Medicines from a “hold” rating to a “sell” rating in a research report on Wednesday, December 19th. Finally, Roth Capital initiated coverage on shares of The Medicines in a research report on Thursday, March 21st. They set a “buy” rating and a $75.00 target price for the company. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The Medicines currently has a consensus rating of “Buy” and an average price target of $53.13.
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The Medicines Company Profile
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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