3.6% Stake of The Medicines Company (MDCO) Owned by Partner Fund Management, L.P.

Partner Fund Management, L.P.

stated that they own a 3.6% stake in The Medicines Company (NASDAQ:MDCO) in a Schedule 13G disclosure that was filed with the Securities and Exchange Commission on Monday, March 20th. The investor owns 2,630,904 shares of the stock worth $134,860,139. The reporting parties listed on the disclosure included Partner Fund Management, LP, Partner Fund Management GP, LLC, Partner Investment Management, LP, Partner Investment Management GP, LLC, Brian D Grossman and Christopher M James. The filing is available through the SEC website at this hyperlink.

Partner Fund Management, L.P.

provided the following explanation of their ownership:

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A number of other hedge funds have also added to or reduced their stakes in the company. LS Investment Advisors LLC raised its stake in The Medicines Company by 1.8% in the third quarter. LS Investment Advisors LLC now owns 2,942 shares of the company’s stock worth $111,000 after buying an additional 51 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in The Medicines Company by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 15,440 shares of the company’s stock worth $583,000 after buying an additional 250 shares in the last quarter. US Bancorp DE raised its stake in The Medicines Company by 2.3% in the third quarter. US Bancorp DE now owns 30,292 shares of the company’s stock worth $1,143,000 after buying an additional 670 shares in the last quarter. BlackRock Inc. raised its stake in The Medicines Company by 11.5% in the third quarter. BlackRock Inc. now owns 8,195 shares of the company’s stock worth $309,000 after buying an additional 847 shares in the last quarter. Finally, DIAM Co. Ltd. raised its stake in The Medicines Company by 10.7% in the third quarter. DIAM Co. Ltd. now owns 10,466 shares of the company’s stock worth $398,000 after buying an additional 1,009 shares in the last quarter.

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

Shares of The Medicines Company (NASDAQ:MDCO) traded up 6.04% during trading on Monday, hitting $51.30. 4,129,972 shares of the stock traded hands. The Medicines Company has a 1-year low of $29.48 and a 1-year high of $55.28. The firm has a 50-day moving average of $49.08 and a 200-day moving average of $39.53. The firm’s market capitalization is $3.62 billion.

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Several brokerages have recently issued reports on MDCO. HC Wainwright reissued a “positive” rating and issued a $60.00 price target on shares of The Medicines Company in a report on Monday. JPMorgan Chase & Co. reissued a “buy” rating on shares of The Medicines Company in a report on Saturday. Zacks Investment Research raised shares of The Medicines Company from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Tuesday, December 27th. Royal Bank of Canada reissued a “buy” rating on shares of The Medicines Company in a report on Wednesday, March 1st. Finally, Jefferies Group LLC boosted their price target on shares of The Medicines Company from $49.00 to $62.00 and gave the company a “positive” rating in a report on Wednesday, March 1st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $53.50.

In related news, CFO William Bernard O’connor sold 25,833 shares of the stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $46.20, for a total value of $1,193,484.60. Following the completion of the transaction, the chief financial officer now owns 30,935 shares of the company’s stock, valued at approximately $1,429,197. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.90% of the stock is owned by corporate insiders.

About The Medicines Company

The Medicines Company is a global biopharmaceutical company. The Company’s marketed products include Angiomax (bivalirudin), Cleviprex (clevidipine) injectable emulsion, Ionsys (fentanyl iontophoretic transdermal system), Kengreal (cangrelor), Minocin (minocycline) for injection, and Orbactiv (oritavancin).

5 Day Chart for NASDAQ:MDCO

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