Medidata Solutions, Inc. (MDSO) Shares Gap Down After Analyst Downgrade

Shares of Medidata Solutions, Inc. (NASDAQ:MDSO) gapped down before the market opened on Friday after Wells Fargo & lowered their price target on the stock from $83.00 to $80.00. The stock had previously closed at $73.62, but opened at $75.33. Wells Fargo & currently has a market perform rating on the stock. Medidata Solutions shares last traded at $71.88, with a volume of 660,559 shares.

A number of other brokerages also recently issued reports on MDSO. JPMorgan Chase & Co. increased their price target on shares of Medidata Solutions to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. Citigroup Inc. reaffirmed a “buy” rating and set a $94.00 price objective (up from $77.00) on shares of Medidata Solutions in a report on Monday, July 10th. Piper Jaffray Companies increased their price objective on shares of Medidata Solutions to $87.00 and gave the company an “overweight” rating in a report on Friday, July 7th. BidaskClub downgraded shares of Medidata Solutions from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, KeyCorp reaffirmed a “buy” rating and set a $86.00 price objective on shares of Medidata Solutions in a report on Sunday, September 17th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Medidata Solutions currently has a consensus rating of “Buy” and a consensus target price of $84.42.

In other news, COO Michael L. Capone sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $74.53, for a total transaction of $372,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.80% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Medidata Solutions during the 2nd quarter worth approximately $601,000. Russell Investments Group Ltd. lifted its position in shares of Medidata Solutions by 80.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 28,574 shares of the company’s stock worth $2,235,000 after buying an additional 12,743 shares during the last quarter. State of Wisconsin Investment Board purchased a new stake in shares of Medidata Solutions during the 2nd quarter worth approximately $7,674,000. LS Investment Advisors LLC lifted its position in shares of Medidata Solutions by 49.5% during the 2nd quarter. LS Investment Advisors LLC now owns 4,947 shares of the company’s stock worth $387,000 after buying an additional 1,637 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund purchased a new stake in shares of Medidata Solutions during the 2nd quarter worth approximately $925,000. Institutional investors and hedge funds own 98.38% of the company’s stock.

The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 117.84 and a beta of 1.77. The firm has a 50 day moving average of $78.02 and a 200 day moving average of $74.35.

Medidata Solutions (NASDAQ:MDSO) last released its earnings results on Thursday, October 26th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The company had revenue of $140.08 million during the quarter, compared to analysts’ expectations of $141.27 million. Medidata Solutions had a return on equity of 11.14% and a net margin of 7.07%. The business’s revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 EPS. Analysts expect that Medidata Solutions, Inc. will post $1.29 earnings per share for the current fiscal year.

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Medidata Solutions Company Profile

Medidata Solutions Inc (Medidata) is a provider of cloud-based solutions for life sciences. The Company provides cloud-based solutions for clinical research in life sciences, offering platform technology that focuses on the clinical development. The Company’s plan study addresses three areas to ensure optimal study design, grant development and negotiation, and investigator payments.

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