The Medicines (MDCO) Announces Quarterly Earnings Results, Misses Expectations By $0.13 EPS

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The Medicines (NASDAQ:MDCO) announced its quarterly earnings data on Thursday. The company reported ($0.70) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.13), Briefing.com reports. The firm had revenue of ($3.30) million during the quarter, compared to the consensus estimate of $1.88 million. The Medicines had a negative net margin of 668.93% and a negative return on equity of 394.33%. The firm’s quarterly revenue was down 141.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.19) earnings per share.

Shares of NASDAQ:MDCO traded down $0.20 during trading on Friday, hitting $23.79. 970,469 shares of the company traded hands, compared to its average volume of 910,131. The firm has a market capitalization of $1.89 billion, a PE ratio of -2.83 and a beta of 1.06. The Medicines has a one year low of $23.22 and a one year high of $41.57. The company has a current ratio of 2.60, a quick ratio of 2.55 and a debt-to-equity ratio of 31.23.

Several analysts recently weighed in on the company. Oppenheimer set a $50.00 price objective on The Medicines and gave the company a “buy” rating in a report on Friday. BidaskClub lowered The Medicines from a “buy” rating to a “hold” rating in a report on Saturday, August 4th. Citigroup upped their target price on The Medicines from $40.00 to $50.00 and gave the company a “buy” rating in a report on Monday, August 20th. Zacks Investment Research raised The Medicines from a “hold” rating to a “buy” rating and set a $44.00 target price for the company 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 analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The Medicines currently has a consensus rating of “Buy” and a consensus target price of $53.71.

In other news, CEO Clive Meanwell sold 50,000 shares of the company’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 transaction of $1,965,500.00. Following the completion of the transaction, the chief executive officer now directly owns 352,409 shares of the company’s stock, valued at $13,853,197.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.29% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. FMR LLC grew its holdings in shares of The Medicines by 1.2% during the third quarter. FMR LLC now owns 11,068,729 shares of the company’s stock valued at $331,066,000 after purchasing an additional 127,139 shares during the last quarter. PointState Capital LP grew its holdings in The Medicines by 8.3% in the 2nd quarter. PointState Capital LP now owns 4,012,490 shares of the company’s stock worth $147,258,000 after buying an additional 306,343 shares in the last quarter. Northern Trust Corp grew its holdings in The Medicines by 1.7% in the 2nd quarter. Northern Trust Corp now owns 906,505 shares of the company’s stock worth $33,269,000 after buying an additional 14,879 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in The Medicines by 0.3% in the 2nd quarter. OppenheimerFunds Inc. now owns 707,160 shares of the company’s stock worth $25,953,000 after buying an additional 1,777 shares in the last quarter. Finally, Granahan Investment Management Inc. MA grew its holdings in The Medicines by 15.3% in the 2nd quarter. Granahan Investment Management Inc. MA now owns 553,848 shares of the company’s stock worth $20,326,000 after buying an additional 73,662 shares in the last quarter.

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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.

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Earnings History for The Medicines (NASDAQ:MDCO)

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