Voya Investment Management LLC trimmed its stake in shares of The Medicines Company (NASDAQ:MDCO) by 9.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,673 shares of the company’s stock after selling 2,810 shares during the period. Voya Investment Management LLC’s holdings in The Medicines were worth $1,016,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc acquired a new stake in The Medicines during the second quarter worth about $210,000. NumerixS Investment Technologies Inc acquired a new stake in The Medicines during the second quarter worth about $229,000. Xact Kapitalforvaltning AB grew its holdings in The Medicines by 28.9% during the first quarter. Xact Kapitalforvaltning AB now owns 10,260 shares of the company’s stock worth $338,000 after acquiring an additional 2,300 shares during the period. PNC Financial Services Group Inc. grew its holdings in The Medicines by 29.4% during the first quarter. PNC Financial Services Group Inc. now owns 10,545 shares of the company’s stock worth $348,000 after acquiring an additional 2,398 shares during the period. Finally, Ontario Teachers Pension Plan Board acquired a new stake in The Medicines during the second quarter worth about $443,000.
Shares of MDCO opened at $27.92 on Tuesday. The company has a current ratio of 2.60, a quick ratio of 2.55 and a debt-to-equity ratio of 31.23. The Medicines Company has a 12 month low of $24.45 and a 12 month high of $41.57. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -3.37 and a beta of 0.79.
The Medicines (NASDAQ:MDCO) last issued its quarterly earnings data on Wednesday, August 1st. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.30. The Medicines had a negative return on equity of 394.33% and a negative net margin of 668.93%. The company had revenue of $1.67 million for the quarter, compared to analyst estimates of $7.20 million. During the same period last year, the company earned ($0.72) earnings per share. The Medicines’s quarterly revenue was down 84.6% compared to the same quarter last year. Research analysts anticipate that The Medicines Company will post -2.52 earnings per share for the current year.
In other The Medicines news, CEO Clive Meanwell sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $39.31, for a total value of $1,965,500.00. Following the sale, the chief executive officer now directly owns 352,409 shares of the company’s stock, valued at $13,853,197.79. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.29% of the stock is currently owned by company insiders.
Several research firms recently commented on MDCO. Oppenheimer set a $50.00 target price on The Medicines and gave the stock a “buy” rating in a report on Monday, September 24th. Citigroup raised their target price on The Medicines from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, August 20th. BidaskClub raised The Medicines from a “hold” rating to a “buy” rating in a report on Tuesday, June 12th. Zacks Investment Research raised The Medicines from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Tuesday, August 7th. Finally, ValuEngine lowered The Medicines from a “buy” rating to a “hold” rating in a report on Monday, September 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $52.63.
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.
Want to see what other hedge funds are holding MDCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Medicines Company (NASDAQ:MDCO).
Receive News & Ratings for The Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Medicines and related companies with MarketBeat.com's FREE daily email newsletter.