Ashford Capital Management Inc Lowers stake in The Medicines Company (MDCO)

The Medicines Company (MDCO) : Ashford Capital Management Inc reduced its stake in The Medicines Company by 1.15% during the most recent quarter end. The investment management company now holds a total of 392,825 shares of The Medicines Company which is valued at $14,538,453 after selling 4,590 shares in The Medicines Company , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.The Medicines Company makes up approximately 2.95% of Ashford Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Sabby Management added MDCO to its portfolio by purchasing 7,000 company shares during the most recent quarter which is valued at $259,070. The Medicines Company makes up approx 0.09% of Sabby Management’s portfolio.Allianz Asset Management Ag boosted its stake in MDCO in the latest quarter, The investment management firm added 9,475 additional shares and now holds a total of 102,245 shares of The Medicines Company which is valued at $3,784,087. The Medicines Company makes up approx 0.01% of Allianz Asset Management Ag’s portfolio.Pacad Investment Ltd. boosted its stake in MDCO in the latest quarter, The investment management firm added 4,360 additional shares and now holds a total of 14,960 shares of The Medicines Company which is valued at $553,670. The Medicines Company makes up approx 0.07% of Pacad Investment Ltd.’s portfolio. Diam Ltd. added MDCO to its portfolio by purchasing 9,457 company shares during the most recent quarter which is valued at $365,418. The Medicines Company makes up approx 0.01% of Diam Ltd.’s portfolio.

The Medicines Company closed down -0.2 points or -0.51% at $38.97 with 7,19,720 shares getting traded on Thursday. Post opening the session at $39, the shares hit an intraday low of $38.61 and an intraday high of $40 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, The Medicines Company reported $-0.62 EPS for the quarter, beating the analyst consensus estimate by $ 0.35 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.97. The company had revenue of $54.73 million for the quarter, compared to analysts expectations of $42.26 million. The company’s revenue was down -26.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.65 EPS.

The Medicines Company is a global biopharmaceutical company. The Company’s marketed products are: Angiomax (bivalirudin) Cleviprex (clevidipine) injectable emulsion Minocin (minocycline) for injection Orbactiv (oritavancin) PreveLeak and Recothrom Thrombin topical (Recombinant). The Company’s products in development include its registration stage product candidates and its research and development product candidates. It has a pipeline of acute and intensive care hospital products in development including four registration stage product candidates for which the Company has submitted applications for regulatory approval in the United States cangrelor IONSYS (fentanyl iontophoretic transdermal system) Raplixa formerly referred to as Fibrocaps and RPX-602. The Company’s four research and development product candidates include ABP-700 ALN-PCSsc Carbavance and MDCO-216. The Company also develops ABP-700 an intravenous anesthetic which is in Phase I of clinical studies.

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