Analysts expect The Medicines Company (NASDAQ:MDCO) to report $20.31 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for The Medicines’ earnings, with the lowest sales estimate coming in at $16.24 million and the highest estimate coming in at $26.80 million. The Medicines posted sales of $25.20 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 19.4%. The business is scheduled to announce its next earnings report before the market opens on Wednesday, February 21st.
On average, analysts expect that The Medicines will report full-year sales of $20.31 million for the current year, with estimates ranging from $76.07 million to $86.70 million. For the next fiscal year, analysts anticipate that the company will post sales of $78.71 million per share, with estimates ranging from $12.03 million to $196.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover The Medicines.
Several analysts have weighed in on MDCO shares. Guggenheim started coverage on The Medicines in a research note on Monday, October 23rd. They set a “buy” rating and a $45.00 target price on the stock. Jefferies Group reaffirmed a “buy” rating and set a $54.00 target price on shares of The Medicines in a research note on Thursday, October 26th. Oppenheimer set a $50.00 target price on The Medicines and gave the company a “hold” rating in a research note on Thursday, October 26th. Citigroup raised The Medicines from a “sell” rating to an “outperform” rating in a research note on Thursday, November 30th. Finally, ValuEngine raised The Medicines from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $51.70.
In other news, CEO Clive Meanwell sold 136,250 shares of The Medicines stock in a transaction on Friday, December 15th. The stock was sold at an average price of $27.24, for a total transaction of $3,711,450.00. Following the transaction, the chief executive officer now directly owns 587,652 shares in the company, valued at approximately $16,007,640.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alexander J. Denner purchased 170,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were purchased at an average price of $30.03 per share, for a total transaction of $5,105,100.00. Following the completion of the transaction, the director now owns 6,663 shares in the company, valued at approximately $200,089.89. The disclosure for this purchase can be found here. 8.22% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. 683 Capital Management LLC acquired a new position in shares of The Medicines in the 4th quarter worth $1,367,000. MetLife Investment Advisors LLC acquired a new position in shares of The Medicines in the 4th quarter worth $876,000. Endurant Capital Management LP acquired a new position in shares of The Medicines in the 4th quarter worth $1,126,000. Macquarie Group Ltd. grew its holdings in shares of The Medicines by 10.3% in the 4th quarter. Macquarie Group Ltd. now owns 1,079,102 shares of the company’s stock worth $29,503,000 after acquiring an additional 101,051 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of The Medicines in the 4th quarter worth $202,000.
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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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