Ferris Capital LLC Takes Position in The Medicines Company (NASDAQ:MDCO)
Ferris Capital LLC acquired a new stake in shares of The Medicines Company (NASDAQ:MDCO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,000 shares of the company’s stock, valued at approximately $547,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in The Medicines by 11.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,767 shares of the company’s stock valued at $217,000 after buying an additional 777 shares during the last quarter. Coronation Fund Managers Ltd. purchased a new stake in The Medicines in the first quarter valued at approximately $4,251,000. FNY Investment Advisers LLC purchased a new stake in The Medicines in the first quarter valued at approximately $335,000. Piedmont Investment Advisors Inc. boosted its position in The Medicines by 5.5% in the first quarter. Piedmont Investment Advisors Inc. now owns 16,562 shares of the company’s stock valued at $463,000 after buying an additional 864 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in The Medicines by 13.3% in the first quarter. Bank of Montreal Can now owns 3,556 shares of the company’s stock valued at $99,000 after buying an additional 417 shares during the last quarter.
MDCO has been the topic of a number of recent research reports. Zacks Investment Research upgraded GCP Applied Technologies from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Goldman Sachs Group restated a “buy” rating and issued a $68.00 price objective on shares of Total in a research report on Friday, April 26th. B. Riley set a $61.00 price objective on The Medicines and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Bank of America restated a “buy” rating and issued a $43.00 price objective (up previously from $36.00) on shares of The Medicines in a research report on Tuesday, July 9th. Finally, Chardan Capital restated a “buy” rating and issued a $90.00 price objective (up previously from $85.00) on shares of The Medicines in a research report on Friday, April 26th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The Medicines presently has an average rating of “Buy” and an average price target of $61.50.
MDCO traded down $0.32 during trading on Monday, hitting $36.62. 1,969 shares of the stock were exchanged, compared to its average volume of 1,325,838. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -12.57 and a beta of 1.08. The company has a quick ratio of 5.97, a current ratio of 5.97 and a debt-to-equity ratio of 21.45. The company’s fifty day simple moving average is $36.39. The Medicines Company has a 1-year low of $16.69 and a 1-year high of $41.33.
The Medicines (NASDAQ:MDCO) last released its quarterly earnings results on Wednesday, July 24th. The company reported ($0.71) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.73) by $0.02. During the same period last year, the firm earned ($0.63) earnings per share. On average, analysts forecast that The Medicines Company will post -2.74 EPS for the current fiscal year.
The Medicines Company 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.
See Also: How Do Mutual Funds Work?
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.