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Medicines Co. (MDCO) Broke Out To A New High On Q4 Results

Medicines Co. (MDCO: Quote) reported fourth quarter non-GAAP net income of $0.78 per share Wednesday morning, which topped the consensus estimate of $0.21. Net revenue increased by 20.6 percent to $159.5 million, from $132.2 million in the year-ago quarter. The consensus estimate was for revenues of $136.46 million.

Medicines Co. gapped up slightly Wednesday and advanced further around the middle of the afternoon. Shares finished up by 1.42 at $32.57 on above average volume. The stock broke out of a 1-month range and set a new high for the year.

by RTT Staff Writer

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