SunTrust Banks, Inc. restated their buy rating on shares of Medidata Solutions, Inc. (NASDAQ:MDSO) in a research note released on Friday, October 27th. The brokerage currently has a $92.00 price objective on the stock.
MDSO has been the subject of a number of other research reports. Zacks Investment Research downgraded 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 target 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 target on shares of Medidata Solutions in a report on Tuesday, August 22nd. Citigroup Inc. reiterated a buy rating and issued a $95.00 target price (up previously from $94.00) on shares of Medidata Solutions in a report on Monday, July 24th. Finally, Morgan Stanley lifted their target price on shares of Medidata Solutions from $74.00 to $86.00 and gave the company an overweight rating in a report on Thursday, July 20th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $84.25.
Medidata Solutions (NASDAQ:MDSO) traded up $0.73 during trading hours on Friday, reaching $65.69. 516,200 shares of the company’s stock traded hands, compared to its average volume of 548,634. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.37 and a current ratio of 1.29. Medidata Solutions has a one year low of $47.77 and a one year high of $85.92. The stock has a market capitalization of $3,797.62, a price-to-earnings ratio of 78.26, a price-to-earnings-growth ratio of 3.91 and a beta of 1.78.
Medidata Solutions (NASDAQ:MDSO) last posted its earnings results on Thursday, October 26th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. The business 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 revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 EPS. research analysts predict that Medidata Solutions will post 0.77 EPS for the current year.
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In other Medidata Solutions news, CEO Tarek Sherif sold 200,000 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $68.76, for a total value of $13,752,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Michael L. Capone sold 5,000 shares of the company’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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,000 shares of company stock worth $15,190,400. Company insiders own 5.80% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its stake in shares of Medidata Solutions by 4.1% during the third quarter. Wells Fargo & Company MN now owns 219,054 shares of the company’s stock valued at $17,099,000 after buying an additional 8,658 shares during the period. Axiom International Investors LLC DE increased its position in shares of Medidata Solutions by 16.2% in the third quarter. Axiom International Investors LLC DE now owns 99,506 shares of the company’s stock worth $7,767,000 after acquiring an additional 13,886 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Medidata Solutions by 11.0% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,534 shares of the company’s stock worth $666,000 after acquiring an additional 847 shares in the last quarter. Legal & General Group Plc increased its position in shares of Medidata Solutions by 16.0% in the third quarter. Legal & General Group Plc now owns 50,575 shares of the company’s stock worth $3,949,000 after acquiring an additional 6,987 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its position in shares of Medidata Solutions by 292.9% in the third quarter. Eagle Asset Management Inc. now owns 835,286 shares of the company’s stock worth $66,371,000 after acquiring an additional 622,694 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.
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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