Equities research analysts expect The Medicines Company (NASDAQ:MDCO) to announce sales of $3.68 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for The Medicines’ earnings. The lowest sales estimate is $1.50 million and the highest is $9.28 million. The Medicines reported sales of $16.87 million in the same quarter last year, which would suggest a negative year over year growth rate of 78.2%. The company is expected to announce its next quarterly earnings report on Wednesday, October 24th.
On average, analysts expect that The Medicines will report full-year sales of $15.16 million for the current fiscal year, with estimates ranging from $12.00 million to $27.66 million. For the next fiscal year, analysts expect that the business will report sales of $25.39 million, with estimates ranging from $5.10 million to $74.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover The Medicines.
The Medicines (NASDAQ:MDCO) last issued its quarterly earnings data on Wednesday, August 1st. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.30. The Medicines had a negative return on equity of 394.33% and a negative net margin of 668.93%. The business had revenue of $1.67 million for the quarter, compared to analysts’ expectations of $7.20 million. During the same period last year, the business earned ($0.72) EPS. The business’s revenue was down 84.6% on a year-over-year basis.
In other The Medicines news, CEO Clive Meanwell sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $39.31, for a total value of $1,965,500.00. Following the transaction, the chief executive officer now directly owns 352,409 shares in the company, valued at $13,853,197.79. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.29% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. PointState Capital LP grew its holdings in The Medicines by 81.5% during the 1st quarter. PointState Capital LP now owns 3,706,147 shares of the company’s stock valued at $122,080,000 after buying an additional 1,663,694 shares in the last quarter. venBio Select Advisor LLC increased its holdings in shares of The Medicines by 26.2% in the 1st quarter. venBio Select Advisor LLC now owns 1,635,817 shares of the company’s stock valued at $53,884,000 after acquiring an additional 339,257 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of The Medicines by 797.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 211,686 shares of the company’s stock valued at $790,000 after acquiring an additional 188,086 shares during the period. American Century Companies Inc. purchased a new position in shares of The Medicines in the 2nd quarter valued at $3,749,000. Finally, Granahan Investment Management Inc. MA increased its holdings in shares of The Medicines by 15.3% in the 2nd quarter. Granahan Investment Management Inc. MA now owns 553,848 shares of the company’s stock valued at $20,326,000 after acquiring an additional 73,662 shares during the period.
Shares of NASDAQ:MDCO traded down $0.02 on Wednesday, reaching $26.23. The company had a trading volume of 778,631 shares, compared to its average volume of 1,024,604. The Medicines has a 52-week low of $24.45 and a 52-week high of $41.57. The company has a market capitalization of $2.21 billion, a PE ratio of -3.12 and a beta of 0.79. The company has a current ratio of 2.60, a quick ratio of 2.55 and a debt-to-equity ratio of 31.23.
The Medicines Company Profile
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.
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