Wall Street analysts expect that The Medicines Company (NASDAQ:MDCO) will report sales of $7.58 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for The Medicines’ earnings. The highest sales estimate is $9.61 million and the lowest is $4.70 million. The Medicines reported sales of $18.74 million in the same quarter last year, which indicates a negative year-over-year growth rate of 59.6%. The company is scheduled to report its next earnings results on Wednesday, August 8th.
On average, analysts expect that The Medicines will report full-year sales of $26.69 million for the current year, with estimates ranging from $18.24 million to $35.60 million. For the next year, analysts anticipate that the company will post sales of $33.85 million per share, with estimates ranging from $11.71 million to $74.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover The Medicines.
The Medicines (NASDAQ:MDCO) last posted its quarterly earnings data on Wednesday, April 25th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.03. The Medicines had a negative return on equity of 609.97% and a negative net margin of 1,109.21%. The business had revenue of $7.71 million for the quarter, compared to analysts’ expectations of $9.21 million. During the same quarter last year, the firm earned ($1.05) earnings per share. The business’s revenue was down 55.8% on a year-over-year basis.
Several equities research analysts have recently issued reports on MDCO shares. Oppenheimer set a $50.00 price objective on The Medicines and gave the stock a “hold” rating in a report on Thursday, February 22nd. Jefferies Financial Group restated a “buy” rating and set a $47.00 price objective on shares of The Medicines in a report on Friday, February 23rd. ValuEngine upgraded The Medicines from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. BidaskClub upgraded The Medicines from a “sell” rating to a “hold” rating in a report on Thursday, March 15th. Finally, Zacks Investment Research cut The Medicines from a “hold” rating to a “sell” rating in a report on Tuesday, April 17th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The Medicines has an average rating of “Buy” and a consensus target price of $50.56.
In other The Medicines news, Director Armin M. Kessler sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $28.71, for a total value of $574,200.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Melvin K. Spigelman sold 7,500 shares of the firm’s stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $32.20, for a total value of $241,500.00. Following the completion of the transaction, the director now directly owns 60,633 shares in the company, valued at $1,952,382.60. The disclosure for this sale can be found here. Insiders sold 35,000 shares of company stock worth $1,057,650 in the last quarter. 10.29% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in MDCO. Schwab Charles Investment Management Inc. raised its position in The Medicines by 5.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 318,462 shares of the company’s stock valued at $8,707,000 after purchasing an additional 16,923 shares during the period. SG Americas Securities LLC raised its position in The Medicines by 33.8% in the fourth quarter. SG Americas Securities LLC now owns 7,145 shares of the company’s stock valued at $195,000 after purchasing an additional 1,805 shares during the period. Teacher Retirement System of Texas raised its position in The Medicines by 308.5% in the fourth quarter. Teacher Retirement System of Texas now owns 24,264 shares of the company’s stock valued at $663,000 after purchasing an additional 18,324 shares during the period. California Public Employees Retirement System raised its position in The Medicines by 2.8% in the fourth quarter. California Public Employees Retirement System now owns 164,100 shares of the company’s stock valued at $4,486,000 after purchasing an additional 4,500 shares during the period. Finally, Swiss National Bank raised its position in The Medicines by 2.5% in the fourth quarter. Swiss National Bank now owns 123,650 shares of the company’s stock valued at $3,381,000 after purchasing an additional 3,000 shares during the period.
Shares of MDCO stock traded up $0.25 during mid-day trading on Monday, hitting $36.69. 806,137 shares of the company’s stock were exchanged, compared to its average volume of 1,176,661. The Medicines has a fifty-two week low of $24.45 and a fifty-two week high of $43.79. The company has a quick ratio of 2.52, a current ratio of 2.56 and a debt-to-equity ratio of 9.70. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of -4.37 and a beta of 0.71.
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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