Medidata Solutions, Inc. (MDSO) Upgraded at Dougherty & Co
Dougherty & Co upgraded shares of Medidata Solutions, Inc. (NASDAQ:MDSO) from a neutral rating to a buy rating in a report issued on Monday morning, Marketbeat reports. Dougherty & Co currently has $75.00 price target on the stock.
Other analysts have also recently issued reports about the stock. SunTrust Banks, Inc. reissued a buy rating and set a $92.00 price objective on shares of Medidata Solutions in a research note on Friday, October 27th. Citigroup Inc. reiterated a buy rating and issued a $95.00 price objective (up previously from $94.00) on shares of Medidata Solutions in a report on Monday, July 24th. Needham & Company LLC reiterated a buy rating and issued a $90.00 price objective (up previously from $75.00) on shares of Medidata Solutions in a report on Friday, July 21st. KeyCorp reiterated a buy rating and issued a $86.00 price objective on shares of Medidata Solutions in a report on Sunday, September 17th. Finally, Jefferies Group LLC reiterated a hold rating and issued a $78.00 price objective on shares of Medidata Solutions in a report on Tuesday, August 22nd. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $83.54.
Shares of Medidata Solutions (NASDAQ:MDSO) traded up $0.66 during trading on Monday, hitting $67.24. The company had a trading volume of 358,100 shares, compared to its average volume of 547,588. 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 has a 1 year low of $47.77 and a 1 year high of $85.92. The firm has a market cap of $3,892.33, a P/E ratio of 80.22, a P/E/G ratio of 4.00 and a beta of 1.78.
Medidata Solutions (NASDAQ:MDSO) last released its earnings results on Thursday, October 26th. The company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm had revenue of $140.08 million during the quarter, compared to analysts’ expectations of $141.27 million. Medidata Solutions had a net margin of 7.84% and a return on equity of 11.54%. Medidata Solutions’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 EPS. equities research analysts expect that Medidata Solutions will post 0.77 earnings per share for the current fiscal year.
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In related news, Director Robert Taylor sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $71.39, for a total value of $356,950.00. Following the completion of the sale, the director now owns 49,372 shares in the company, valued at approximately $3,524,667.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tarek Sherif sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were 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. In the last 90 days, insiders sold 215,000 shares of company stock valued at $14,817,750. 5.80% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its stake in Medidata Solutions by 27.7% in the 2nd quarter. State Street Corp now owns 1,828,913 shares of the company’s stock valued at $143,022,000 after buying an additional 396,793 shares during the last quarter. American Century Companies Inc. boosted its holdings in Medidata Solutions by 610.9% in the 3rd quarter. American Century Companies Inc. now owns 1,186,843 shares of the company’s stock valued at $92,645,000 after purchasing an additional 1,019,883 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Medidata Solutions by 2,994.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,151,200 shares of the company’s stock valued at $89,863,000 after purchasing an additional 1,114,000 shares during the period. Northern Trust Corp lifted its holdings in shares of Medidata Solutions by 32.5% during the 2nd quarter. Northern Trust Corp now owns 932,450 shares of the company’s stock worth $72,918,000 after acquiring an additional 228,915 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Medidata Solutions by 10.5% during the 2nd quarter. Janus Henderson Group PLC now owns 882,164 shares of the company’s stock worth $68,985,000 after acquiring an additional 84,161 shares during the period. Institutional investors own 97.52% of the company’s stock.
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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