Renaissance Technologies LLC cut its stake in shares of The Medicines Company (NASDAQ:MDCO) by 61.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 162,332 shares of the company’s stock after selling 253,568 shares during the period. Renaissance Technologies LLC owned about 0.23% of The Medicines worth $7,938,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in The Medicines by 341.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,109 shares of the company’s stock worth $104,000 after buying an additional 1,631 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of The Medicines by 5.1% in the first quarter. Envestnet Asset Management Inc. now owns 2,496 shares of the company’s stock valued at $122,000 after buying an additional 120 shares during the last quarter. Neuburgh Advisers LLC boosted its position in shares of The Medicines by 12.4% in the first quarter. Neuburgh Advisers LLC now owns 2,596 shares of the company’s stock valued at $127,000 after buying an additional 286 shares during the last quarter. Tyers Asset Management LLC boosted its position in shares of The Medicines by 12.4% in the first quarter. Tyers Asset Management LLC now owns 3,304 shares of the company’s stock worth $162,000 after buying an additional 364 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of The Medicines by 1.7% in the first quarter. US Bancorp DE now owns 3,413 shares of the company’s stock worth $167,000 after buying an additional 58 shares in the last quarter.
The Medicines Company (NASDAQ:MDCO) opened at 37.40 on Friday. The company has a 50-day moving average of $37.99 and a 200 day moving average of $44.48. The company’s market cap is $2.69 billion. The Medicines Company has a one year low of $30.80 and a one year high of $55.95.
The Medicines (NASDAQ:MDCO) last issued its quarterly earnings results on Wednesday, August 9th. The company reported ($5.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.29) by $4.23. The company had revenue of $18.74 million during the quarter, compared to analysts’ expectations of $29.64 million. The Medicines had a negative return on equity of 137.20% and a negative net margin of 670.46%. The Medicines’s quarterly revenue was down 65.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.62) earnings per share. Equities research analysts predict that The Medicines Company will post ($5.98) EPS for the current year.
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Several equities research analysts have commented on MDCO shares. TheStreet lowered shares of The Medicines from a “c-” rating to a “d” rating in a research note on Wednesday. Jefferies Group LLC reiterated a “buy” rating and set a $54.00 price objective (down previously from $62.00) on shares of The Medicines in a research note on Thursday. Cowen and Company restated a “buy” rating and set a $54.00 target price (down from $61.00) on shares of The Medicines in a report on Thursday. Zacks Investment Research upgraded shares of The Medicines from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Tuesday, August 8th. Finally, Citigroup Inc. raised their target price on shares of The Medicines from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $52.36.
About The Medicines
The Medicines Company is a global biopharmaceutical company. The Company is focused on advancing the treatment of acute and intensive care patients through the delivery of medicines to the hospital marketplace around the world. It markets Angiomax (bivalirudin), Ionsys (fentanyl iontophoretic transdermal system), Minocin (minocycline) for injection and Orbactiv (oritavancin).
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