Point State Capital Boosts its Stake in The Medicines Company (MDCO) to 7%

Led by Sean Cullinan, Point State Capital revealed a significantly increased position in The Medicines Company (NASDAQ:MDCO). The updated position amounts to almost 4.70 million shares, which represent a 7.30% passive stake in the company’s common stock. Previously, Point State owned 900,000 shares in The Medicines..

Founded in 1996 and employing approximately 425 professionals, The Medicines Company (NASDAQ:MDCO) is a global pharmaceutical company focused on advancing the treatment of critical care patients by supplying the hospital marketplace with three main innovative and cost-effective medicines: Angiomax, Cleviprex, and Argatroban Injection. The company also has several other hospital products under development. In a recent press release, The Medicines Company announced that the U.S. Food and Drug Administration (FDA) accepted the filing of a biologic license application for Fibrocaps hemostatic agent  – a dry powder formulation developed to aid in hemostasis during surgery. In 2013, the company generated net profits of $15.50 million – an equivalent of $0.27 per share. On average, analysts strongly suggest that investors buy the stock, estimating that  The Medicines would produce earnings per share of $1.68 and $2.66 in 2014 and 2015, respectively.

Other significant shareholders of The Medicines Company (NASDAQ:MDCO) include Christopher Medlock‘s Partner Fund Management, which holds 2.10 million shares with an aggregate value of $81.70 million. Royce & Associates, a fund managed by Chuck Royce, owns a $177.00 million worth position of 4.60 million shares in the company.

Having a market value of nearly $8.00 billion, Point State Capital’s equity portfolio is 40.00% invested in the Services Sector.
Cheniere Energy, Inc. (NYSEMKT:LNG) represents a 6.55% stake in the portfolio, the position amassing more than 12.00 shares worth almost $520.00 million. The fund also holds significant positions in Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) and Walgreen Company (NYSE:WAG), with 9.45 million shares worth $378.60 million in the former and 6.12 million shares worth $351.80 million in the latter.

Disclosure: None

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