Medicines Co (MDCO) Shareholder Corvex Management LP Cut Its Stake

June 17, 2018 - By Adrian Mccoy

The Medicines Company (NASDAQ:MDCO) LogoInvestors sentiment decreased to 1.02 in 2018 Q1. Its down 0.23, from 1.25 in 2017Q4. It fall, as 30 investors sold MDCO shares while 51 reduced holdings. 25 funds opened positions while 58 raised stakes. 91.05 million shares or 1.80% more from 89.44 million shares in 2017Q4 were reported. 45,232 are held by Piedmont Investment. Northern owns 0.01% invested in The Medicines Company (NASDAQ:MDCO) for 891,626 shares. Pnc Financial Grp Inc Incorporated has 10,545 shares. Art Advsr Ltd Liability Co holds 68,100 shares. State Street reported 2.19 million shares stake. Aperio Grp Inc Limited Liability Corp holds 0% of its portfolio in The Medicines Company (NASDAQ:MDCO) for 25,810 shares. Wexford Ltd Partnership holds 0.07% or 30,500 shares. Corvex Management Ltd Partnership reported 1.99M shares. Ls Invest Advsr Lc, Michigan-based fund reported 2,218 shares. Stratos Wealth Ltd has 400 shares. Ameriprise Fin holds 0.01% or 516,781 shares. Royal Commercial Bank Of Canada invested 0% in The Medicines Company (NASDAQ:MDCO). Arizona State Retirement invested in 101,719 shares. 100 were accumulated by Atlantic Tru Grp Inc Lc. Millennium Lc stated it has 0% in The Medicines Company (NASDAQ:MDCO).

Since January 16, 2018, it had 0 insider buys, and 3 insider sales for $1.06 million activity. 7,500 The Medicines Company (NASDAQ:MDCO) shares with value of $241,950 were sold by CROUSE WILLIAM. The insider Spigelman Melvin K sold $241,500.

Keith Meister decreased its stake in Medicines Co (MDCO) by 17.51% based on its latest 2018Q1 regulatory filing with the SEC. Corvex Management Lp sold 422,054 shares as the company’s stock rose 4.51% while stock markets declined. The hedge fund run by Keith Meister held 1.99M shares of the major pharmaceuticals company at the end of 2018Q1, valued at $65.51M, down from 2.41M at the end of the previous reported quarter. Corvex Management Lp who had been investing in Medicines Co for a number of months, seems to be less bullish one the $2.72 billion market cap company. The stock increased 0.57% or $0.21 during the last trading session, reaching $36.9. About 709,936 shares traded. The Medicines Company (NASDAQ:MDCO) has declined 16.45% since June 17, 2017 and is downtrending. It has underperformed by 29.02% the S&P500.

Analysts await The Medicines Company (NASDAQ:MDCO) to report earnings on August, 8. They expect $-1.00 EPS, up 81.88 % or $4.52 from last year’s $-5.52 per share. After $-0.80 actual EPS reported by The Medicines Company for the previous quarter, Wall Street now forecasts 25.00 % negative EPS growth.

More recent The Medicines Company (NASDAQ:MDCO) news were published by: Seekingalpha.com which released: “Rounds Report: Melinta Rallied While The FDA Approved OsteoDetect” on May 26, 2018. Also Seekingalpha.com published the news titled: “Premarket analyst action – healthcare” on June 07, 2018. Seekingalpha.com‘s news article titled: “Rounds Report: Melinta Rallied While Novavax Experienced Significant Insider Purchases” with publication date: June 06, 2018 was also an interesting one.

The Medicines Company (NASDAQ:MDCO) Ratings Coverage

Among 4 analysts covering Medicines Co (NASDAQ:MDCO), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Medicines Co had 6 analyst reports since January 15, 2018 according to SRatingsIntel. The stock of The Medicines Company (NASDAQ:MDCO) earned “Hold” rating by Oppenheimer on Thursday, February 22. As per Monday, January 22, the company rating was upgraded by Citigroup. The rating was maintained by Oppenheimer on Thursday, March 22 with “Buy”. The stock of The Medicines Company (NASDAQ:MDCO) earned “Buy” rating by FBR Capital on Wednesday, June 6. The stock of The Medicines Company (NASDAQ:MDCO) earned “Buy” rating by Oppenheimer on Monday, January 15.

The Medicines Company (NASDAQ:MDCO) Institutional Positions Chart

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