Medicines (MDCO) Raised to “Sell” at BidaskClub

Medicines (NASDAQ:MDCO) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Wednesday.

A number of other research firms have also recently issued reports on MDCO. Oppenheimer set a $50.00 target price on shares of Medicines and gave the company a “buy” rating in a research note on Monday, March 12th. ValuEngine upgraded shares of Medicines from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Zacks Investment Research cut shares of Medicines from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Jefferies Group restated a “buy” rating and issued a $47.00 price objective on shares of Medicines in a research report on Friday, February 23rd. Finally, JPMorgan Chase restated an “overweight” rating and issued a $45.00 price objective on shares of Medicines in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $50.00.

Medicines opened at $32.20 on Wednesday, Marketbeat Ratings reports. Medicines has a 1 year low of $31.57 and a 1 year high of $32.21. The company has a debt-to-equity ratio of 9.70, a current ratio of 2.56 and a quick ratio of 2.52. The company has a market capitalization of $2.36 billion, a PE ratio of -3.83 and a beta of 0.67.

Medicines (NASDAQ:MDCO) last posted its earnings results on Wednesday, April 25th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.03. Medicines had a negative net margin of 1,109.21% and a negative return on equity of 609.97%. The company had revenue of $7.71 million during the quarter, compared to analysts’ expectations of $9.21 million. During the same quarter in the previous year, the company posted ($1.05) earnings per share. Medicines’s quarterly revenue was down 55.8% compared to the same quarter last year. sell-side analysts anticipate that Medicines will post -3.51 EPS for the current year.

In related news, Director William Crouse sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $32.26, for a total value of $241,950.00. Following the completion of the transaction, the director now owns 60,633 shares in the company, valued at approximately $1,956,020.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Armin M. Kessler sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $28.71, for a total transaction of $574,200.00. The disclosure for this sale can be found here. Insiders own 8.22% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Swiss National Bank raised its position in shares of Medicines by 2.5% during the 4th quarter. Swiss National Bank now owns 123,650 shares of the company’s stock valued at $3,381,000 after acquiring an additional 3,000 shares during the last quarter. Atria Investments LLC bought a new stake in shares of Medicines during the 4th quarter valued at $297,000. State of Wisconsin Investment Board raised its position in shares of Medicines by 31.3% during the 4th quarter. State of Wisconsin Investment Board now owns 68,300 shares of the company’s stock valued at $1,867,000 after acquiring an additional 16,300 shares during the last quarter. Arizona State Retirement System raised its position in shares of Medicines by 224.8% during the 4th quarter. Arizona State Retirement System now owns 107,819 shares of the company’s stock valued at $2,948,000 after acquiring an additional 74,623 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Medicines by 33.8% during the 4th quarter. SG Americas Securities LLC now owns 7,145 shares of the company’s stock valued at $195,000 after acquiring an additional 1,805 shares during the last quarter.

About 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.

Analyst Recommendations for Medicines (NASDAQ:MDCO)

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