Equities analysts expect that The Medicines Company (NASDAQ:MDCO) will announce ($0.66) earnings per share for the current quarter, according to Zacks. Two analysts have issued estimates for The Medicines’ earnings. The highest EPS estimate is ($0.62) and the lowest is ($0.68). The Medicines reported earnings of ($0.63) per share in the same quarter last year, which suggests a negative year over year growth rate of 4.8%. The firm is scheduled to issue its next earnings results on Wednesday, August 7th.
According to Zacks, analysts expect that The Medicines will report full year earnings of ($2.51) per share for the current fiscal year, with EPS estimates ranging from ($2.59) to ($2.40). For the next fiscal year, analysts expect that the company will post earnings of ($2.20) per share, with EPS estimates ranging from ($2.80) to ($1.68). Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for The Medicines.
The Medicines (NASDAQ:MDCO) last announced its earnings results on Thursday, April 25th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.09). During the same quarter last year, the firm earned ($0.76) EPS. The Medicines’s revenue was down 100.0% compared to the same quarter last year.
A number of brokerages have recently commented on MDCO. Robert W. Baird began coverage on shares of The Medicines in a report on Wednesday, March 27th. They issued an “outperform” rating and a $80.00 target price for the company. Zacks Investment Research cut shares of The Medicines from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. BidaskClub raised shares of The Medicines from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Roth Capital started coverage on shares of The Medicines in a report on Thursday, March 21st. They set a “buy” rating and a $75.00 price target for the company. Finally, Chardan Capital reissued a “buy” rating and set a $90.00 price target (up from $85.00) on shares of The Medicines in a report on Friday, April 26th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $63.78.
In other news, Director Alexander J. Denner purchased 160,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was purchased at an average cost of $34.50 per share, with a total value of $5,520,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander J. Denner purchased 85,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average cost of $34.83 per share, with a total value of $2,960,550.00. The disclosure for this purchase can be found here. Insiders have purchased 676,000 shares of company stock valued at $23,087,140 over the last three months. 10.29% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can grew its position in The Medicines by 13.3% during the first quarter. Bank of Montreal Can now owns 3,556 shares of the company’s stock worth $99,000 after buying an additional 417 shares during the period. Oregon Public Employees Retirement Fund grew its position in The Medicines by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,460 shares of the company’s stock worth $712,000 after buying an additional 460 shares during the period. Piedmont Investment Advisors Inc. grew its position in The Medicines by 3.4% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 15,698 shares of the company’s stock worth $300,000 after buying an additional 517 shares during the period. Mason Street Advisors LLC grew its position in The Medicines by 3.4% during the first quarter. Mason Street Advisors LLC now owns 21,112 shares of the company’s stock worth $590,000 after buying an additional 697 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in The Medicines by 11.1% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,767 shares of the company’s stock worth $217,000 after buying an additional 777 shares during the period.
Shares of NASDAQ:MDCO traded down $1.66 on Tuesday, reaching $33.70. The company’s stock had a trading volume of 124,519 shares, compared to its average volume of 1,582,703. The business has a 50-day moving average price of $34.61. The Medicines has a 52-week low of $16.69 and a 52-week high of $41.57. The company has a market cap of $2.69 billion, a PE ratio of -11.62 and a beta of 1.13.
The Medicines Company Profile
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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