Other equities analysts have also recently issued reports about the stock. Bank of America Corporation initiated coverage on shares of Medidata Solutions in a research report on Tuesday, June 6th. They set a “buy” rating and a $85.00 price objective for the company. Zacks Investment Research raised shares of Medidata Solutions from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, May 3rd. Needham & Company LLC lifted their price objective on shares of Medidata Solutions from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, April 27th. SunTrust Banks, Inc. lifted their price objective on shares of Medidata Solutions from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Finally, BidaskClub raised shares of 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 eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $78.17.
Medidata Solutions, Inc. (NASDAQ:MDSO) had its price objective upped by research analysts at Morgan Stanley from $74.00 to $86.00 in a research report issued on Thursday, July 20th. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 10.77% from the company’s previous close.
Medidata Solutions (MDSO) traded down 1.08% during trading on Thursday, reaching $76.80. 288,798 shares of the company traded hands. The company’s 50-day moving average is $77.80 and its 200 day moving average is $65.11. Medidata Solutions has a 12 month low of $46.10 and a 12 month high of $85.92. The company has a market cap of $4.33 billion, a PE ratio of 124.07 and a beta of 1.79.
Medidata Solutions (NASDAQ:MDSO) last released its quarterly earnings data on Tuesday, July 18th. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.03. Medidata Solutions had a net margin of 7.07% and a return on equity of 11.14%. 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 business posted $0.24 earnings per share. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, analysts anticipate that Medidata Solutions will post $1.28 earnings per share for the current year.
In related news, Director Robert Taylor sold 5,639 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $73.46, for a total value of $414,240.94. Following the completion of the transaction, the director now owns 54,372 shares of the company’s stock, valued at $3,994,167.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Michael L. Capone sold 5,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $69.46, for a total value of $347,300.00. Following the completion of the transaction, the chief operating officer now directly owns 171,754 shares of the company’s stock, valued at approximately $11,930,032.84. The disclosure for this sale can be found here. 5.80% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new position in Medidata Solutions during the fourth quarter worth approximately $1,592,000. Renaissance Technologies LLC acquired a new position in shares of Medidata Solutions during the fourth quarter valued at approximately $2,975,000. Guggenheim Capital LLC increased its position in shares of Medidata Solutions by 14.8% in the fourth quarter. Guggenheim Capital LLC now owns 50,628 shares of the company’s stock valued at $2,514,000 after buying an additional 6,526 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Medidata Solutions during the fourth quarter valued at approximately $703,000. Finally, Norges Bank acquired a new position in shares of Medidata Solutions during the fourth quarter valued at approximately $35,052,000.
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.