New York State Common Retirement Fund Has $4.87 Million Stake in The Medicines Company (MDCO)
New York State Common Retirement Fund grew its holdings in shares of The Medicines Company (NASDAQ:MDCO) by 36.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 254,492 shares of the company’s stock after acquiring an additional 68,195 shares during the period. New York State Common Retirement Fund owned about 0.34% of The Medicines worth $4,871,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in MDCO. Oregon Public Employees Retirement Fund acquired a new stake in shares of The Medicines during the fourth quarter worth $25,000. Bank of Montreal Can increased its position in shares of The Medicines by 31.9% during the fourth quarter. Bank of Montreal Can now owns 3,139 shares of the company’s stock worth $59,000 after buying an additional 760 shares during the period. First Mercantile Trust Co. increased its position in shares of The Medicines by 21.6% during the fourth quarter. First Mercantile Trust Co. now owns 3,965 shares of the company’s stock worth $76,000 after buying an additional 705 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of The Medicines by 61.1% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,990 shares of the company’s stock worth $125,000 after buying an additional 2,651 shares during the period. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of The Medicines during the fourth quarter worth $232,000.
Several equities research analysts have recently weighed in on MDCO shares. BidaskClub upgraded shares of The Medicines from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Zacks Investment Research upgraded shares of The Medicines from a “sell” rating to a “hold” rating in a research report on Thursday, December 13th. Goldman Sachs Group started coverage on shares of The Medicines in a research report on Thursday, December 13th. They set a “neutral” rating and a $25.00 price objective for the company. Finally, Wolfe Research started coverage on shares of The Medicines in a research report on Friday, December 14th. They set an “outperform” rating for the company. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $45.00.
NASDAQ:MDCO opened at $27.13 on Friday. The company has a quick ratio of 5.03, a current ratio of 5.05 and a debt-to-equity ratio of 31.23. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -9.32 and a beta of 1.29. The Medicines Company has a 12 month low of $16.69 and a 12 month high of $41.57.
The Medicines (NASDAQ:MDCO) last posted its quarterly earnings results on Wednesday, February 27th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.05). The Medicines had a negative return on equity of 2,119.03% and a negative net margin of 668.93%. During the same quarter last year, the firm earned ($0.61) earnings per share. As a group, research analysts anticipate that The Medicines Company will post -1.64 EPS for the current year.
ILLEGAL ACTIVITY WARNING: “New York State Common Retirement Fund Has $4.87 Million Stake in The Medicines Company (MDCO)” was originally reported by Marea Informative and is the property of of Marea Informative. If you are accessing this news story on another website, it was illegally copied and republished in violation of US & international copyright & trademark law. The legal version of this news story can be read at https://www.mareainformativa.com/news/2019/03/17/new-york-state-common-retirement-fund-has-4-87-million-stake-in-the-medicines-company-mdco.html.
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.
Further Reading: What is insider trading?
Want to see what other hedge funds are holding MDCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Medicines Company (NASDAQ:MDCO).
Receive News & Ratings for The Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Medicines and related companies with MarketBeat.com's FREE daily email newsletter.