Medidata Solutions, Inc. (MDSO) Expected to Announce Quarterly Sales of $141.03 Million
Brokerages expect Medidata Solutions, Inc. (NASDAQ:MDSO) to report sales of $141.03 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Medidata Solutions’ earnings. The lowest sales estimate is $140.40 million and the highest is $142.34 million. Medidata Solutions posted sales of $120.06 million during the same quarter last year, which would indicate a positive year over year growth rate of 17.5%. The business is scheduled to issue its next earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Medidata Solutions will report full-year sales of $141.03 million for the current financial year, with estimates ranging from $550.10 million to $558.00 million. For the next year, analysts anticipate that the firm will report sales of $652.31 million per share, with estimates ranging from $642.33 million to $669.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Medidata Solutions.
Medidata Solutions (NASDAQ:MDSO) last posted its earnings results on Tuesday, July 18th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. Medidata Solutions had a return on equity of 11.14% and a net margin of 7.07%. The firm had revenue of $137.41 million during the quarter, compared to analysts’ expectations of $134.28 million. During the same period in the previous year, the firm earned $0.24 earnings per share. The company’s revenue was up 19.9% on a year-over-year basis.
Several research analysts have recently weighed in on the company. Piper Jaffray Companies lifted their price objective on Medidata Solutions to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 7th. Jefferies Group LLC reissued a “hold” rating and issued a $78.00 price objective on shares of Medidata Solutions in a research report on Tuesday, August 22nd. Citigroup Inc. reissued a “buy” rating and issued a $95.00 price objective (up from $94.00) on shares of Medidata Solutions in a research report on Monday, July 24th. Morgan Stanley set a $74.00 price objective on Medidata Solutions and gave the stock a “buy” rating in a research report on Wednesday, June 14th. Finally, BidaskClub raised Medidata Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $80.83.
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In other Medidata Solutions news, Director Robert Taylor sold 5,639 shares of Medidata Solutions stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $73.46, for a total transaction of $414,240.94. Following the completion of the transaction, the director now owns 54,372 shares in the company, valued at approximately $3,994,167.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael L. Capone sold 5,000 shares of Medidata Solutions stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $74.53, for a total value of $372,650.00. The disclosure for this sale can be found here. Company insiders own 5.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in MDSO. Clearbridge Investments LLC increased its position in Medidata Solutions by 61.4% in the first quarter. Clearbridge Investments LLC now owns 2,449,038 shares of the company’s stock worth $141,285,000 after buying an additional 931,729 shares during the period. State Street Corp increased its position in Medidata Solutions by 27.7% in the second quarter. State Street Corp now owns 1,828,913 shares of the company’s stock worth $143,022,000 after buying an additional 396,793 shares during the period. Voya Investment Management LLC increased its position in Medidata Solutions by 1,571.0% in the second quarter. Voya Investment Management LLC now owns 376,259 shares of the company’s stock worth $29,423,000 after buying an additional 353,742 shares during the period. Renaissance Technologies LLC increased its position in Medidata Solutions by 562.8% in the first quarter. Renaissance Technologies LLC now owns 396,992 shares of the company’s stock worth $22,902,000 after buying an additional 337,098 shares during the period. Finally, Teachers Advisors LLC increased its position in Medidata Solutions by 254.0% in the first quarter. Teachers Advisors LLC now owns 371,554 shares of the company’s stock worth $21,435,000 after buying an additional 266,606 shares during the period. Institutional investors and hedge funds own 97.53% of the company’s stock.
Medidata Solutions (NASDAQ MDSO) remained flat at $74.96 on Tuesday. 441,763 shares of the stock were exchanged. The stock has a market capitalization of $4.24 billion, a PE ratio of 121.10 and a beta of 1.79. The stock has a 50-day moving average price of $75.72 and a 200-day moving average price of $68.55. Medidata Solutions has a 12-month low of $46.10 and a 12-month high of $85.92.
About Medidata Solutions
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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