Maven Securities LTD Makes New Investment in The Medicines Company (NASDAQ:MDCO)

Maven Securities LTD purchased a new position in shares of The Medicines Company (NASDAQ:MDCO) during the 2nd quarter, HoldingsChannel reports. The firm purchased 109,386 shares of the company’s stock, valued at approximately $3,994,000. The Medicines accounts for about 2.7% of Maven Securities LTD’s holdings, making the stock its 11th largest holding.

Several other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new stake in shares of The Medicines in the 2nd quarter valued at $44,000. Moody Aldrich Partners LLC bought a new stake in The Medicines in the second quarter worth $1,836,000. Artal Group S.A. boosted its holdings in The Medicines by 42.9% in the second quarter. Artal Group S.A. now owns 1,000,000 shares of the company’s stock worth $36,470,000 after purchasing an additional 300,000 shares in the last quarter. Bank of Montreal Can increased its position in The Medicines by 13.3% during the first quarter. Bank of Montreal Can now owns 3,556 shares of the company’s stock worth $99,000 after buying an additional 417 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. increased its position in The Medicines by 5.5% during the first quarter. Piedmont Investment Advisors Inc. now owns 16,562 shares of the company’s stock worth $463,000 after buying an additional 864 shares during the last quarter.

Shares of NASDAQ MDCO traded up $1.40 during trading hours on Wednesday, hitting $47.96. 222,860 shares of the company’s stock were exchanged, compared to its average volume of 3,009,304. The company’s 50-day moving average price is $37.67 and its 200-day moving average price is $33.18. The Medicines Company has a 1-year low of $16.69 and a 1-year high of $49.00. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of -16.54 and a beta of 0.93. The company has a debt-to-equity ratio of 21.45, a current ratio of 5.97 and a quick ratio of 5.97.

The Medicines (NASDAQ:MDCO) last released its earnings results on Wednesday, July 24th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.73) by $0.02. During the same period last year, the business posted ($0.63) earnings per share. On average, research analysts expect that The Medicines Company will post -3.26 earnings per share for the current year.

In other news, EVP Stephen M. Rodin sold 5,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $34.82, for a total transaction of $174,100.00. Following the transaction, the executive vice president now owns 33,139 shares in the company, valued at approximately $1,153,899.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Alexander J. Denner acquired 50,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were bought at an average price of $33.00 per share, for a total transaction of $1,650,000.00. Following the acquisition, the director now owns 14,092 shares in the company, valued at approximately $465,036. The disclosure for this purchase can be found here. 8.41% of the stock is owned by insiders.

Several research firms have weighed in on MDCO. Roth Capital set a $72.00 target price on The Medicines and gave the company a “buy” rating in a report on Tuesday, September 3rd. ValuEngine upgraded The Medicines from a “buy” rating to a “strong-buy” rating in a report on Monday, August 26th. B. Riley set a $61.00 price target on The Medicines and gave the company a “buy” rating in a report on Monday, August 26th. Zacks Investment Research lowered shares of The Medicines from a “hold” rating to a “sell” rating and set a $40.00 price target on the stock. in a research report on Tuesday, July 30th. Finally, Piper Jaffray Companies restated a “positive” rating and issued a $145.00 price objective (up from $142.00) on shares of The Medicines in a research note on Monday, September 2nd. One research analyst has rated the stock with a sell rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $69.67.

About The Medicines

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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Institutional Ownership by Quarter for The Medicines (NASDAQ:MDCO)

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