Aviva Holdings Ltd. trimmed its holdings in The Medicines Company (NASDAQ:MDCO) by 74.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 982,831 shares of the company’s stock after selling 2,795,911 shares during the period. The Medicines accounts for 7.5% of Aviva Holdings Ltd.’s holdings, making the stock its 3rd largest position. Aviva Holdings Ltd. owned 1.24% of The Medicines worth $35,844,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Balyasny Asset Management LLC boosted its holdings in The Medicines by 132.1% in the second quarter. Balyasny Asset Management LLC now owns 129,837 shares of the company’s stock valued at $4,735,000 after purchasing an additional 534,837 shares in the last quarter. Vanguard Group Inc. grew its position in The Medicines by 6.6% during the 2nd quarter. Vanguard Group Inc. now owns 7,438,930 shares of the company’s stock worth $271,297,000 after acquiring an additional 460,064 shares during the last quarter. Antipodean Advisors LLC boosted its position in The Medicines by 51.2% in the 2nd quarter. Antipodean Advisors LLC now owns 257,000 shares of the company’s stock valued at $9,373,000 after buying an additional 87,000 shares during the last quarter. Crestline Management LP bought a new position in The Medicines in the 2nd quarter valued at $638,000. Finally, Vivo Capital LLC bought a new position in The Medicines in the 2nd quarter valued at $24,399,000.
The Medicines stock traded down $0.34 during mid-day trading on Friday, hitting $52.01. 1,358,652 shares of the company’s stock were exchanged, compared to its average volume of 2,123,266. The company’s 50 day simple moving average is $46.65 and its 200-day simple moving average is $36.71. The Medicines Company has a fifty-two week low of $16.69 and a fifty-two week high of $53.19. The firm has a market capitalization of $4.13 billion, a P/E ratio of -17.87 and a beta of 0.91. 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 Medicines (NASDAQ:MDCO) last released its quarterly earnings results on Wednesday, July 24th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.73) by $0.02. During the same period last year, the company posted ($0.63) earnings per share. Research analysts expect that The Medicines Company will post -3.27 EPS for the current year.
Several analysts recently commented on MDCO shares. Citigroup downgraded The Medicines from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research note on Tuesday, September 17th. Jefferies Financial Group cut shares of The Medicines from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $44.00 to $50.00 in a research note on Thursday. Zacks Investment Research lowered shares of The Medicines from a “hold” rating to a “sell” rating and set a $40.00 price objective on the stock. in a report on Tuesday, July 30th. ValuEngine downgraded shares of The Medicines from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Cowen set a $48.00 target price on shares of The Medicines and gave the company a “buy” rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $70.77.
In other news, EVP Stephen M. Rodin sold 5,000 shares of The Medicines stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $34.82, for a total value of $174,100.00. Following the completion of the sale, the executive vice president now directly owns 33,139 shares in the company, valued at $1,153,899.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 8.41% of the company’s stock.
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.
See Also: Retained Earnings
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