The Medicines Company (NASDAQ:MDCO) Shares Acquired by Prudential Financial Inc.

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Prudential Financial Inc. boosted its position in shares of The Medicines Company (NASDAQ:MDCO) by 5.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,752 shares of the company’s stock after purchasing an additional 5,340 shares during the period. Prudential Financial Inc. owned approximately 0.14% of The Medicines worth $4,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new stake in The Medicines during the 2nd quarter valued at $44,000. Moody Aldrich Partners LLC acquired a new stake in The Medicines during the 2nd quarter valued at $1,836,000. Bank of Montreal Can grew its holdings 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 in the last quarter. Piedmont Investment Advisors Inc. grew its holdings in The Medicines by 5.5% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 16,562 shares of the company’s stock worth $463,000 after acquiring an additional 864 shares in the last quarter. Finally, Strs Ohio acquired a new position in The Medicines during the 2nd quarter worth $120,000.

In other The Medicines news, Director Alexander J. Denner purchased 50,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $33.00 per share, with a total value of $1,650,000.00. Following the acquisition, the director now owns 14,092 shares of the company’s stock, valued at approximately $465,036. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Stephen M. Rodin sold 5,000 shares of The Medicines stock in a transaction dated 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 directly owns 33,139 shares of the company’s stock, valued at $1,153,899.98. The disclosure for this sale can be found here. Insiders own 8.41% of the company’s stock.

MDCO stock traded down $0.78 during mid-day trading on Friday, hitting $47.76. 1,233,709 shares of the company were exchanged, compared to its average volume of 3,078,314. The company has a market capitalization of $3.80 billion, a PE ratio of -16.41 and a beta of 0.93. The company has a current ratio of 5.97, a quick ratio of 5.97 and a debt-to-equity ratio of 21.45. The Medicines Company has a twelve month low of $16.69 and a twelve month high of $49.07. The firm has a fifty day simple moving average of $38.14 and a 200 day simple moving average of $33.42.

The Medicines (NASDAQ:MDCO) last posted its quarterly earnings results on Wednesday, July 24th. The company reported ($0.71) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.73) by $0.02. During the same quarter last year, the business earned ($0.63) earnings per share. As a group, sell-side analysts anticipate that The Medicines Company will post -3.26 earnings per share for the current year.

Several research analysts have weighed in on MDCO shares. JPMorgan Chase & Co. raised their price objective on shares of The Medicines from $39.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Robert W. Baird reissued an “overweight” rating and set a $110.00 price objective (up from $80.00) on shares of The Medicines in a report on Monday, May 20th. Leerink Swann reissued a “buy” rating on shares of The Medicines in a report on Tuesday, September 3rd. Zacks Investment Research lowered shares of The Medicines from a “hold” rating to a “sell” rating and set a $40.00 price objective for the company. in a report on Tuesday, July 30th. Finally, Bank of America reissued a “buy” rating and set a $51.00 price objective on shares of The Medicines in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $69.67.

About The Medicines

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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