Intrinsic value of Medicines - MDCO

Previous Close

$39.22

  Intrinsic Value

$1.43

stock screener

  Rating & Target

str. sell

-96%

  Value-price divergence*

-54%

Previous close

$39.22

 
Intrinsic value

$1.43

 
Up/down potential

-96%

 
Rating

str. sell

 
Value-price divergence*

-54%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of MDCO stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -45.63
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  168
  171
  175
  180
  185
  190
  197
  203
  211
  218
  227
  236
  245
  255
  266
  278
  290
  303
  316
  331
  346
  362
  379
  397
  416
  435
  456
  478
  501
  526
  551
Variable operating expenses, $m
 
  64
  65
  66
  67
  68
  69
  71
  72
  74
  76
  52
  55
  57
  59
  62
  65
  67
  70
  74
  77
  81
  84
  88
  93
  97
  102
  106
  112
  117
  123
Fixed operating expenses, $m
 
  485
  497
  509
  522
  535
  549
  562
  576
  591
  605
  621
  636
  652
  668
  685
  702
  720
  738
  756
  775
  794
  814
  835
  856
  877
  899
  921
  944
  968
  992
Total operating expenses, $m
  535
  549
  562
  575
  589
  603
  618
  633
  648
  665
  681
  673
  691
  709
  727
  747
  767
  787
  808
  830
  852
  875
  898
  923
  949
  974
  1,001
  1,027
  1,056
  1,085
  1,115
Operating income, $m
  -367
  -377
  -386
  -395
  -404
  -413
  -421
  -430
  -438
  -447
  -455
  -437
  -445
  -453
  -461
  -469
  -477
  -484
  -492
  -499
  -506
  -513
  -520
  -526
  -532
  -538
  -544
  -550
  -555
  -559
  -564
EBITDA, $m
  -336
  -329
  -338
  -346
  -354
  -362
  -370
  -378
  -385
  -393
  -400
  -407
  -414
  -420
  -427
  -433
  -439
  -445
  -451
  -456
  -461
  -466
  -471
  -475
  -479
  -482
  -485
  -488
  -490
  -491
  -492
Interest expense (income), $m
  12
  22
  22
  23
  24
  25
  26
  28
  29
  31
  32
  34
  36
  38
  40
  42
  44
  47
  50
  52
  55
  59
  62
  65
  69
  73
  77
  81
  86
  91
  96
Earnings before tax, $m
  -119
  -399
  -409
  -418
  -428
  -438
  -448
  -457
  -467
  -477
  -487
  -471
  -481
  -491
  -501
  -511
  -521
  -531
  -541
  -551
  -562
  -572
  -582
  -592
  -602
  -611
  -621
  -631
  -641
  -650
  -660
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -119
  -399
  -409
  -418
  -428
  -438
  -448
  -457
  -467
  -477
  -487
  -471
  -481
  -491
  -501
  -511
  -521
  -531
  -541
  -551
  -562
  -572
  -582
  -592
  -602
  -611
  -621
  -631
  -641
  -650
  -660

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  542
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,705
  1,242
  1,270
  1,303
  1,340
  1,380
  1,425
  1,473
  1,526
  1,582
  1,643
  1,708
  1,777
  1,851
  1,930
  2,013
  2,101
  2,195
  2,293
  2,398
  2,508
  2,624
  2,747
  2,876
  3,012
  3,155
  3,306
  3,465
  3,632
  3,808
  3,993
Adjusted assets (=assets-cash), $m
  1,163
  1,242
  1,270
  1,303
  1,340
  1,380
  1,425
  1,473
  1,526
  1,582
  1,643
  1,708
  1,777
  1,851
  1,930
  2,013
  2,101
  2,195
  2,293
  2,398
  2,508
  2,624
  2,747
  2,876
  3,012
  3,155
  3,306
  3,465
  3,632
  3,808
  3,993
Revenue / Adjusted assets
  0.144
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
  0.138
Average production assets, $m
  641
  654
  669
  686
  705
  727
  750
  776
  803
  833
  865
  899
  936
  975
  1,016
  1,060
  1,106
  1,155
  1,207
  1,262
  1,320
  1,381
  1,446
  1,514
  1,586
  1,661
  1,741
  1,824
  1,912
  2,005
  2,102
Working capital, $m
  409
  -17
  -18
  -18
  -18
  -19
  -20
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -30
  -32
  -33
  -35
  -36
  -38
  -40
  -42
  -44
  -46
  -48
  -50
  -53
  -55
Total debt, $m
  677
  641
  664
  691
  720
  754
  790
  830
  873
  919
  968
  1,022
  1,078
  1,138
  1,203
  1,271
  1,343
  1,419
  1,500
  1,585
  1,675
  1,770
  1,870
  1,976
  2,087
  2,204
  2,327
  2,457
  2,594
  2,737
  2,889
Total liabilities, $m
  1,052
  1,015
  1,038
  1,065
  1,094
  1,128
  1,164
  1,204
  1,247
  1,293
  1,342
  1,396
  1,452
  1,512
  1,577
  1,645
  1,717
  1,793
  1,874
  1,959
  2,049
  2,144
  2,244
  2,350
  2,461
  2,578
  2,701
  2,831
  2,968
  3,111
  3,263
Total equity, $m
  654
  227
  232
  238
  245
  253
  261
  270
  279
  290
  301
  313
  325
  339
  353
  368
  385
  402
  420
  439
  459
  480
  503
  526
  551
  577
  605
  634
  665
  697
  731
Total liabilities and equity, $m
  1,706
  1,242
  1,270
  1,303
  1,339
  1,381
  1,425
  1,474
  1,526
  1,583
  1,643
  1,709
  1,777
  1,851
  1,930
  2,013
  2,102
  2,195
  2,294
  2,398
  2,508
  2,624
  2,747
  2,876
  3,012
  3,155
  3,306
  3,465
  3,633
  3,808
  3,994
Debt-to-equity ratio
  1.035
  2.820
  2.860
  2.900
  2.940
  2.980
  3.030
  3.080
  3.130
  3.170
  3.220
  3.270
  3.310
  3.360
  3.410
  3.450
  3.490
  3.530
  3.570
  3.610
  3.650
  3.690
  3.720
  3.750
  3.790
  3.820
  3.850
  3.870
  3.900
  3.930
  3.950
Adjusted equity ratio
  0.143
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183
  0.183

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -119
  -399
  -409
  -418
  -428
  -438
  -448
  -457
  -467
  -477
  -487
  -471
  -481
  -491
  -501
  -511
  -521
  -531
  -541
  -551
  -562
  -572
  -582
  -592
  -602
  -611
  -621
  -631
  -641
  -650
  -660
Depreciation, amort., depletion, $m
  31
  48
  48
  49
  50
  50
  51
  52
  53
  54
  55
  30
  32
  33
  34
  36
  37
  39
  41
  43
  45
  47
  49
  51
  54
  56
  59
  62
  65
  68
  71
Funds from operations, $m
  -362
  -351
  -360
  -370
  -379
  -388
  -397
  -406
  -414
  -423
  -432
  -441
  -449
  -458
  -467
  -475
  -484
  -492
  -500
  -509
  -517
  -525
  -533
  -540
  -548
  -555
  -562
  -569
  -576
  -582
  -588
Change in working capital, $m
  -39
  0
  0
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
Cash from operations, $m
  -323
  -351
  -360
  -369
  -378
  -387
  -396
  -405
  -414
  -422
  -431
  -440
  -449
  -457
  -466
  -474
  -483
  -491
  -499
  -507
  -515
  -523
  -531
  -538
  -546
  -553
  -560
  -567
  -574
  -580
  -586
Maintenance CAPEX, $m
  0
  -22
  -22
  -23
  -23
  -24
  -25
  -25
  -26
  -27
  -28
  -29
  -30
  -32
  -33
  -34
  -36
  -37
  -39
  -41
  -43
  -45
  -47
  -49
  -51
  -54
  -56
  -59
  -62
  -65
  -68
New CAPEX, $m
  -12
  -13
  -15
  -17
  -19
  -21
  -23
  -26
  -28
  -30
  -32
  -34
  -36
  -39
  -41
  -44
  -46
  -49
  -52
  -55
  -58
  -61
  -65
  -68
  -72
  -75
  -79
  -84
  -88
  -93
  -97
Cash from investing activities, $m
  422
  -35
  -37
  -40
  -42
  -45
  -48
  -51
  -54
  -57
  -60
  -63
  -66
  -71
  -74
  -78
  -82
  -86
  -91
  -96
  -101
  -106
  -112
  -117
  -123
  -129
  -135
  -143
  -150
  -158
  -165
Free cash flow, $m
  99
  -385
  -397
  -409
  -421
  -432
  -444
  -456
  -468
  -479
  -491
  -503
  -516
  -528
  -540
  -552
  -565
  -577
  -590
  -603
  -616
  -629
  -642
  -656
  -669
  -682
  -696
  -710
  -723
  -737
  -751
Issuance/(repayment) of debt, $m
  136
  18
  23
  27
  30
  33
  36
  40
  43
  46
  50
  53
  57
  60
  64
  68
  72
  76
  81
  85
  90
  95
  100
  106
  111
  117
  123
  130
  137
  144
  151
Issuance/(repurchase) of shares, $m
  34
  403
  414
  424
  435
  445
  456
  466
  477
  487
  498
  483
  494
  505
  516
  526
  537
  548
  559
  571
  582
  593
  604
  615
  626
  638
  649
  660
  671
  682
  693
Cash from financing (excl. dividends), $m  
  71
  421
  437
  451
  465
  478
  492
  506
  520
  533
  548
  536
  551
  565
  580
  594
  609
  624
  640
  656
  672
  688
  704
  721
  737
  755
  772
  790
  808
  826
  844
Total cash flow (excl. dividends), $m
  169
  35
  40
  42
  44
  46
  48
  50
  52
  54
  56
  33
  35
  37
  40
  42
  45
  47
  50
  53
  56
  59
  62
  65
  69
  72
  76
  80
  84
  89
  93
Retained Cash Flow (-), $m
  95
  -403
  -414
  -424
  -435
  -445
  -456
  -466
  -477
  -487
  -498
  -483
  -494
  -505
  -516
  -526
  -537
  -548
  -559
  -571
  -582
  -593
  -604
  -615
  -626
  -638
  -649
  -660
  -671
  -682
  -693
Prev. year cash balance distribution, $m
 
  431
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  63
  -374
  -382
  -391
  -399
  -408
  -416
  -425
  -433
  -442
  -450
  -459
  -467
  -476
  -484
  -493
  -501
  -510
  -518
  -526
  -534
  -542
  -550
  -558
  -565
  -573
  -580
  -587
  -593
  -600
Discount rate, %
 
  6.50
  6.83
  7.17
  7.52
  7.90
  8.30
  8.71
  9.15
  9.60
  10.08
  10.59
  11.12
  11.67
  12.26
  12.87
  13.51
  14.19
  14.90
  15.64
  16.43
  17.25
  18.11
  19.01
  19.96
  20.96
  22.01
  23.11
  24.27
  25.48
  26.75
PV of cash for distribution, $m
 
  59
  -328
  -311
  -292
  -273
  -253
  -232
  -211
  -190
  -169
  -149
  -130
  -111
  -94
  -79
  -65
  -53
  -42
  -33
  -25
  -19
  -14
  -10
  -7
  -5
  -3
  -2
  -1
  -1
  0
Current shareholders' claim on cash, %
  100
  69.8
  48.6
  33.8
  23.5
  16.4
  11.5
  8.0
  5.6
  4.0
  2.8
  2.0
  1.5
  1.1
  0.8
  0.6
  0.4
  0.3
  0.2
  0.2
  0.1
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

The Medicines Company provides medicines for patients in acute and intensive care hospitals worldwide. 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; Cleviprex, an intravenous small molecule calcium channel blocker for blood pressure reduction; and Ionsys for the short-term management of acute postoperative pain. It also markets Kengreal, an intravenous small molecule antiplatelet agent for reducing the risk of periprocedural thrombotic events; Minocin IV, an antibiotic for the treatment of bacterial infections; Orbactiv for the treatment of acute bacterial skin and skin structure infections; and ready-to-use formulation of Argatroban for the treatment of thrombosis, as well as acute care generic products for acute cardiovascular, surgery and perioperative care, and serious infectious diseases. The company’s products under development also comprise ABP-700, an intravenous anesthetic agent for moderate or deep sedation and general anesthesia in patients undergoing diagnostic or therapeutic procedures; ALN-PCSsc for the treatment of hypercholesterolemia; Carbavance, an antibiotic agent for the treatment of hospitalized patients with gram-negative bacterial infections; and MDCO-216, a novel biologic product to reverse atherosclerotic plaque development and reduce the risk of ischemic events in patients with ACS. It has a collaboration agreement with Alnylam Pharmaceuticals, Inc,; SciClone Pharmaceuticals; and SymBio Pharmaceuticals Ltd. The Medicines Company was founded in 1996 and is based in Parsippany, New Jersey.

FINANCIAL RATIOS  of  Medicines (MDCO)

Valuation Ratios
P/E Ratio -23.4
Price to Sales 16.6
Price to Book 4.3
Price to Tangible Book
Price to Cash Flow -8.6
Price to Free Cash Flow -8.3
Growth Rates
Sales Growth Rate -45.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -89.6%
Cap. Spend. - 3 Yr. Gr. Rate -3%
Financial Strength
Quick Ratio 10
Current Ratio 0
LT Debt to Equity 95.3%
Total Debt to Equity 103.5%
Interest Coverage -9
Management Effectiveness
Return On Assets -6.1%
Ret/ On Assets - 3 Yr. Avg. -8.9%
Return On Total Capital -9%
Ret/ On T. Cap. - 3 Yr. Avg. -13.4%
Return On Equity -17%
Return On Equity - 3 Yr. Avg. -20.9%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 57.1%
Gross Margin - 3 Yr. Avg. 61%
EBITDA Margin -45.2%
EBITDA Margin - 3 Yr. Avg. -35.7%
Operating Margin -218.5%
Oper. Margin - 3 Yr. Avg. -102.1%
Pre-Tax Margin -70.8%
Pre-Tax Margin - 3 Yr. Avg. -50.9%
Net Profit Margin -70.8%
Net Profit Margin - 3 Yr. Avg. -63.3%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 37.3%
Payout Ratio 0%

MDCO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MDCO stock intrinsic value calculation we used $168 million for the last fiscal year's total revenue generated by Medicines. The default revenue input number comes from 2016 income statement of Medicines. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MDCO stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.5%, whose default value for MDCO is calculated based on our internal credit rating of Medicines, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Medicines.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MDCO stock the variable cost ratio is equal to 37.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $473 million in the base year in the intrinsic value calculation for MDCO stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Medicines.

Corporate tax rate of 27% is the nominal tax rate for Medicines. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MDCO stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MDCO are equal to 381.5%.

Life of production assets of 29.5 years is the average useful life of capital assets used in Medicines operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MDCO is equal to -10%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $654 million for Medicines - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 69.639 million for Medicines is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Medicines at the current share price and the inputted number of shares is $2.7 billion.

RELATED COMPANIES Price Int.Val. Rating
SCLN SciClone Pharm 10.95 17.19  str.buy
JNJ Johnson&Johnso 133.01 94.54  sell
NVS Novartis ADR 84.29 35.73  str.sell
LLY Eli Lilly 84.74 94.86  hold
PFE Pfizer 33.32 28.58  hold
EGRX Eagle Pharmace 72.80 1,190.05  str.buy
MRK Merck&Co 62.57 30.02  str.sell
AZN AstraZeneca AD 33.85 17.48  sell

COMPANY NEWS

▶ Top Losers in the Healthcare Sector: May 2226, 2017   [May-31-17 12:01PM  Market Realist]
▶ ETFs with exposure to The Medicines Co. : May 22, 2017   [May-22-17 01:52PM  Capital Cube]
▶ ETFs with exposure to The Medicines Co. : May 11, 2017   [May-11-17 05:06PM  Capital Cube]
▶ Amgen Trips Amid Rivals: Sales Miss By $100 Million, But Earnings Top   [Apr-26-17 05:28PM  Investor's Business Daily]
▶ Medicines Co. reports 1Q loss   [07:36AM  Associated Press]
▶ Three Small Caps to Buy for the Second Quarter   [Apr-05-17 12:35PM  Investopedia]
▶ Regeneron, Sanofi Look To Crush Amgen, And Rivals Say They Can   [Mar-23-17 02:07PM  Investor's Business Daily]
▶ How This Company Is Taking on Amgen   [09:00AM  Motley Fool]
▶ The Biggest Loser: Amgen Drops 6.4%   [04:59PM  at Barrons.com]
▶ Amgen Blew ItFor Medicines Co., Esperion Too   [01:03PM  at Barrons.com]
▶ Why The Medicines Company Rocketed Higher Today   [Feb-03-17 04:32PM  at Motley Fool]
▶ [$$] London-based regulator for EU drugs fears staff exodus   [Jan-03-17 06:05AM  at Financial Times]
▶ Is Lexmark International Inc (LXK) A Good Stock To Buy Right Now?   [Dec-04-16 08:54PM  at Insider Monkey]
▶ Hedge Funds Are Betting On The Medicines Company (MDCO)   [Dec-02-16 11:13AM  at Insider Monkey]
Stock chart of MDCO Financial statements of MDCO Annual reports of MDCO
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.