Wall Street brokerages expect The Medicines Company (NASDAQ:MDCO) to post sales of $4.37 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for The Medicines’ earnings. The lowest sales estimate is $400,000.00 and the highest is $7.00 million. The Medicines posted sales of $7.77 million in the same quarter last year, which would indicate a negative year over year growth rate of 43.8%. The firm is expected to announce its next quarterly earnings results on Wednesday, April 24th.
On average, analysts expect that The Medicines will report full year sales of $15.18 million for the current financial year, with estimates ranging from $1.90 million to $23.00 million. For the next fiscal year, analysts forecast that the company will post sales of $32.56 million, with estimates ranging from $5.10 million to $58.90 million. Zacks’ sales averages are an average based on a survey of analysts that follow The Medicines.
The Medicines (NASDAQ:MDCO) last posted its earnings results on Wednesday, February 27th. The company reported ($0.67) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.58) by ($0.09). During the same quarter in the prior year, the company earned ($0.61) earnings per share.
Several equities analysts have recently commented on the company. Roth Capital assumed coverage on The Medicines in a report on Thursday, March 21st. They set a “buy” rating and a $75.00 target price for the company. Robert W. Baird assumed coverage on The Medicines in a report on Wednesday, March 27th. They set an “outperform” rating and a $80.00 target price for the company. BidaskClub raised The Medicines from a “buy” rating to a “strong-buy” rating in a report on Friday, March 15th. Finally, Zacks Investment Research raised The Medicines from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The Medicines presently has an average rating of “Buy” and a consensus price target of $53.13.
Shares of NASDAQ:MDCO traded up $0.49 during trading on Friday, hitting $28.02. 617,538 shares of the company traded hands, compared to its average volume of 1,091,782. The firm has a market capitalization of $2.03 billion, a PE ratio of -9.63 and a beta of 1.31. The Medicines has a one year low of $16.69 and a one year high of $41.57.
In other The Medicines news, Director Alexander J. Denner acquired 248,100 shares of The Medicines stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average cost of $24.91 per share, for a total transaction of $6,180,171.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander J. Denner acquired 325,000 shares of The Medicines stock in a transaction dated Monday, March 4th. The shares were acquired at an average price of $25.45 per share, with a total value of $8,271,250.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 673,100 shares of company stock valued at $16,966,421. Insiders own 10.29% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of MDCO. Oregon Public Employees Retirement Fund acquired a new position in shares of The Medicines during the fourth quarter worth approximately $25,000. Bank of Montreal Can boosted its position in shares of The Medicines by 31.9% during the fourth quarter. Bank of Montreal Can now owns 3,139 shares of the company’s stock worth $59,000 after buying an additional 760 shares during the period. First Mercantile Trust Co. boosted its position in shares of The Medicines by 21.6% during the fourth quarter. First Mercantile Trust Co. now owns 3,965 shares of the company’s stock worth $76,000 after buying an additional 705 shares during the period. Advisory Services Network LLC boosted its position in shares of The Medicines by 196.7% during the fourth quarter. Advisory Services Network LLC now owns 4,450 shares of the company’s stock worth $85,000 after buying an additional 2,950 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of The Medicines by 61.1% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,990 shares of the company’s stock worth $125,000 after buying an additional 2,651 shares during the period.
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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