Canada Pension Plan Investment Board grew its stake in Medidata Solutions, Inc. (NASDAQ:MDSO) by 2,994.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,151,200 shares of the company’s stock after acquiring an additional 1,114,000 shares during the period. Canada Pension Plan Investment Board owned 2.03% of Medidata Solutions worth $89,863,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in MDSO. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Medidata Solutions during the second quarter worth approximately $601,000. Russell Investments Group Ltd. raised its stake in shares of Medidata Solutions by 80.5% during the second 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 bought a new stake in shares of Medidata Solutions during the second quarter worth approximately $7,674,000. LS Investment Advisors LLC raised its stake in shares of Medidata Solutions by 49.5% during the second 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 bought a new stake in shares of Medidata Solutions during the second quarter worth approximately $925,000. 97.52% of the stock is owned by institutional investors.
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In related news, COO Michael L. Capone sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $74.53, for a total transaction of $372,650.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Tarek Sherif sold 200,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $68.76, for a total transaction of $13,752,000.00. The disclosure for this sale can be found here. Insiders sold 220,000 shares of company stock worth $15,190,400 over the last three months. Insiders own 5.80% of the company’s stock.
MDSO has been the subject of a number of analyst reports. Royal Bank Of Canada restated a “hold” rating and set a $80.00 price objective on shares of Medidata Solutions in a report on Friday, October 27th. Zacks Investment Research cut shares of Medidata Solutions from a “hold” rating to a “sell” rating in a report on Friday, July 21st. KeyCorp restated a “buy” rating and set a $86.00 price objective on shares of Medidata Solutions in a report on Sunday, September 17th. Jefferies Group LLC restated a “hold” rating and set a $78.00 price objective on shares of Medidata Solutions in a report on Tuesday, August 22nd. Finally, Citigroup Inc. restated a “buy” rating and set a $95.00 price objective (up previously from $94.00) on shares of Medidata Solutions in a report on Monday, July 24th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $84.25.
Medidata Solutions, Inc. (NASDAQ MDSO) traded up $0.73 during midday trading on Friday, reaching $65.69. 516,200 shares of the company’s stock traded hands, compared to its average volume of 734,635. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.29 and a quick ratio of 3.37. Medidata Solutions, Inc. has a 1 year low of $47.77 and a 1 year high of $85.92. The company has a market capitalization of $3,840.30, a price-to-earnings ratio of 79.14, a P/E/G ratio of 3.95 and a beta of 1.78.
Medidata Solutions (NASDAQ:MDSO) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm had revenue of $140.08 million for the quarter, compared to analyst estimates of $141.27 million. Medidata Solutions had a net margin of 7.84% and a return on equity of 11.54%. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 earnings per share. sell-side analysts expect that Medidata Solutions, Inc. will post 0.77 EPS for the current fiscal year.
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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