Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of The Medicines Company (NASDAQ:MDCO) by 17.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,526 shares of the company’s stock after purchasing an additional 381 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in The Medicines were worth $92,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. First Manhattan Co. bought a new stake in shares of The Medicines during the 2nd quarter valued at about $1,082,000. CVI Holdings LLC bought a new stake in shares of The Medicines during the 2nd quarter valued at about $4,119,000. Boxer Capital LLC boosted its position in shares of The Medicines by 25.0% during the 2nd quarter. Boxer Capital LLC now owns 750,000 shares of the company’s stock valued at $27,353,000 after purchasing an additional 150,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of The Medicines during the 2nd quarter valued at about $1,428,000. Finally, Nuveen Asset Management LLC bought a new stake in shares of The Medicines during the 2nd quarter valued at about $16,547,000.
In other news, EVP Stephen M. Rodin sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $34.82, for a total value of $174,100.00. Following the transaction, the executive vice president now owns 33,139 shares in the company, valued at $1,153,899.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.41% of the stock is owned by company insiders.
The Medicines (NASDAQ:MDCO) last announced its quarterly earnings results on Wednesday, July 24th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.02. During the same period in the prior year, the business posted ($0.63) earnings per share. On average, research analysts expect that The Medicines Company will post -3.27 earnings per share for the current fiscal year.
Several equities research analysts recently commented on MDCO shares. ValuEngine lowered The Medicines from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Chardan Capital set a $90.00 target price on The Medicines and gave the company a “buy” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. increased their price target on The Medicines from $39.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Piper Jaffray Companies reiterated a “positive” rating and issued a $145.00 price target (up previously from $142.00) on shares of The Medicines in a report on Monday, September 2nd. Finally, Jefferies Financial Group lowered The Medicines from a “buy” rating to a “hold” rating and increased their price target for the stock from $44.00 to $50.00 in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $70.77.
The Medicines Profile
The Medicines Company, a biopharmaceutical company, focuses on developing therapeutics for the treatment of therosclerotic cardiovascular disease. The company is developing Inclisiran, an investigational RNA interference therapeutic that inhibits production of proprotein convertase subtilisin/kexin type 9, which controls LDL-cholesterol levels.
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