The Medicines Company (MDCO) Expected to Announce Quarterly Sales of $4.37 Million

Brokerages forecast that The Medicines Company (NASDAQ:MDCO) will post $4.37 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for The Medicines’ earnings, with the lowest sales estimate coming in at $400,000.00 and the highest estimate coming in at $7.00 million. The Medicines reported sales of $7.77 million during the same quarter last year, which indicates a negative year over year growth rate of 43.8%. The firm is scheduled to report its next earnings results on Wednesday, April 24th.

On average, analysts expect that The Medicines will report full-year sales of $15.18 million for the current year, with estimates ranging from $1.90 million to $23.00 million. For the next financial year, analysts expect that the firm will post sales of $32.56 million, with estimates ranging from $5.10 million to $58.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow The Medicines.

The Medicines (NASDAQ:MDCO) last issued its earnings results on Wednesday, February 27th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.09). During the same quarter in the prior year, the business posted ($0.61) EPS.

Several equities analysts have recently commented on MDCO shares. Roth Capital started coverage on shares of The Medicines in a research report on Thursday, March 21st. They issued a “buy” rating and a $75.00 target price for the company. BidaskClub raised shares of The Medicines from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Robert W. Baird initiated coverage on shares of The Medicines in a research report on Wednesday, March 27th. They set an “outperform” rating and a $80.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of The Medicines from a “hold” rating to a “sell” rating in a research report on Wednesday, December 19th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The Medicines presently has a consensus rating of “Buy” and a consensus target price of $53.13.

Shares of NASDAQ:MDCO traded up $0.49 during midday trading on Friday, hitting $28.02. The stock had a trading volume of 617,538 shares, compared to its average volume of 1,091,782. The stock has a market capitalization of $2.03 billion, a PE ratio of -9.63 and a beta of 1.31. The Medicines has a fifty-two week low of $16.69 and a fifty-two week high of $41.57.

In other The Medicines news, Director Alexander J. Denner bought 248,100 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average price of $24.91 per share, for a total transaction of $6,180,171.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alexander J. Denner bought 100,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were acquired at an average price of $25.15 per share, for a total transaction of $2,515,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 673,100 shares of company stock worth $16,966,421. Company insiders own 10.29% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc increased its position in shares of The Medicines by 2.5% during the 3rd quarter. Vanguard Group Inc now owns 6,681,573 shares of the company’s stock valued at $199,846,000 after purchasing an additional 162,702 shares during the last quarter. Vanguard Group Inc. increased its holdings in The Medicines by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,681,573 shares of the company’s stock worth $199,846,000 after acquiring an additional 162,702 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in The Medicines by 21.6% in the 4th quarter. Westfield Capital Management Co. LP now owns 4,604,719 shares of the company’s stock worth $88,134,000 after acquiring an additional 817,508 shares in the last quarter. Iridian Asset Management LLC CT increased its holdings in The Medicines by 75.4% in the 4th quarter. Iridian Asset Management LLC CT now owns 3,296,816 shares of the company’s stock worth $63,101,000 after acquiring an additional 1,417,229 shares in the last quarter. Finally, Elk Creek Partners LLC increased its holdings in The Medicines by 28.4% in the 4th quarter. Elk Creek Partners LLC now owns 763,154 shares of the company’s stock worth $14,607,000 after acquiring an additional 168,802 shares in the last quarter.

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 and Estimates for The Medicines (NASDAQ:MDCO)

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