Wall Street analysts expect The Medicines Company (NASDAQ:MDCO) to announce earnings per share (EPS) of ($1.51) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for The Medicines’ earnings, with estimates ranging from ($1.72) to ($1.26). The Medicines posted earnings of ($1.77) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 14.7%. The business is scheduled to announce its next quarterly earnings results on Tuesday, February 27th.
According to Zacks, analysts expect that The Medicines will report full year earnings of ($9.35) per share for the current year, with EPS estimates ranging from ($10.01) to ($8.93). For the next fiscal year, analysts expect that the company will post earnings of ($4.35) per share, with EPS estimates ranging from ($4.83) to ($3.87). Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for The Medicines.
The Medicines (NASDAQ:MDCO) last released its quarterly earnings results on Wednesday, October 25th. The company reported ($0.42) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.37) by $0.95. The firm had revenue of $16.87 million for the quarter, compared to analyst estimates of $26.06 million. The Medicines had a negative net margin of 767.94% and a negative return on equity of 174.68%. The company’s revenue for the quarter was down 55.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.64) earnings per share.
A number of equities analysts have recently issued reports on the stock. Chardan Capital reiterated a “buy” rating and set a $85.00 target price (up from $80.00) on shares of The Medicines in a research report on Tuesday, August 29th. Jefferies Group LLC reiterated a “buy” rating and set a $54.00 target price on shares of The Medicines in a research report on Thursday, October 26th. Oppenheimer Holdings, Inc. set a $50.00 target price on shares of The Medicines and gave the stock a “hold” rating in a research report on Thursday, October 26th. Citigroup Inc. upped their target price on shares of The Medicines from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Finally, Guggenheim assumed coverage on shares of The Medicines in a research report on Monday, October 23rd. They set a “buy” rating and a $45.00 target price on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $53.50.
The Medicines (NASDAQ MDCO) opened at $31.30 on Wednesday. The Medicines has a 12-month low of $28.00 and a 12-month high of $55.95. The company has a debt-to-equity ratio of 3.42, a current ratio of 2.31 and a quick ratio of 1.79.
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A number of hedge funds and other institutional investors have recently made changes to their positions in MDCO. Westfield Capital Management Co. LP lifted its holdings in The Medicines by 947.1% in the second quarter. Westfield Capital Management Co. LP now owns 2,031,359 shares of the company’s stock valued at $77,212,000 after buying an additional 1,837,359 shares during the period. Iridian Asset Management LLC CT lifted its holdings in The Medicines by 21.7% in the second quarter. Iridian Asset Management LLC CT now owns 3,677,746 shares of the company’s stock valued at $139,791,000 after buying an additional 655,065 shares during the period. Pictet Asset Management Ltd. acquired a new position in The Medicines in the third quarter valued at approximately $15,819,000. Franklin Resources Inc. lifted its holdings in The Medicines by 24.1% in the second quarter. Franklin Resources Inc. now owns 1,765,169 shares of the company’s stock valued at $67,093,000 after buying an additional 343,160 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in The Medicines by 44.4% in the second quarter. Macquarie Group Ltd. now owns 873,182 shares of the company’s stock valued at $33,190,000 after buying an additional 268,282 shares during the period.
The Medicines Company Profile
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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