The Medicines (NASDAQ:MDCO) Reaches New 52-Week High at $49.30

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The Medicines Company (NASDAQ:MDCO)’s stock price hit a new 52-week high on Friday . The company traded as high as $49.30 and last traded at $49.11, with a volume of 3359799 shares traded. The stock had previously closed at $48.19.

A number of brokerages recently weighed in on MDCO. JPMorgan Chase & Co. increased their price target on shares of The Medicines from $39.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Leerink Swann reiterated a “buy” rating on shares of The Medicines in a research note on Tuesday, September 3rd. Zacks Investment Research cut shares of The Medicines from a “hold” rating to a “sell” rating and set a $40.00 price target for the company. in a research note on Tuesday, July 30th. Oppenheimer increased their price target on shares of The Medicines from $52.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 3rd. Finally, Cowen set a $48.00 price target on shares of The Medicines and gave the stock a “buy” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $69.67.

The company has a market cap of $3.90 billion, a price-to-earnings ratio of -16.88 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 company’s 50 day moving average price is $39.72 and its 200 day moving average price is $34.22.

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

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC purchased a new position in shares of The Medicines in the 2nd quarter valued at about $35,000. Meeder Asset Management Inc. purchased a new position in The Medicines during the 2nd quarter valued at about $44,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in The Medicines by 17.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,526 shares of the company’s stock valued at $92,000 after acquiring an additional 381 shares in the last quarter. Bank of Montreal Can increased 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 valued at $99,000 after acquiring an additional 417 shares in the last quarter. Finally, Strs Ohio purchased a new position in The Medicines during the 2nd quarter valued at about $120,000.

The Medicines Company Profile (NASDAQ:MDCO)

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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