Medidata Solutions Inc. (MDSO) Sees Unusually-High Trading Volume
Shares of Medidata Solutions Inc. (NASDAQ:MDSO) saw unusually-high trading volume on Monday . Approximately 305,006 shares changed hands during mid-day trading, a decline of 14% from the previous session’s volume of 352,812 shares.The stock last traded at $47.32 and had previously closed at $47.27.
MDSO has been the topic of a number of recent analyst reports. Citigroup Inc. lifted their target price on Medidata Solutions from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, April 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $57.00 target price (up previously from $45.00) on shares of Medidata Solutions in a research report on Friday, April 22nd. Topeka Capital Markets reiterated a “buy” rating and issued a $44.00 target price (up previously from $42.00) on shares of Medidata Solutions in a research report on Tuesday, April 5th. Leerink Swann initiated coverage on Medidata Solutions in a report on Tuesday, April 26th. They set a “market perform” rating and a $47.00 price target on the stock. Finally, KeyCorp reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Medidata Solutions in a research note on Sunday, May 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $51.20.
The stock has a 50-day moving average of $46.48 and a 200-day moving average of $41.80. The stock has a market capitalization of $2.63 billion and a PE ratio of 145.67.
Medidata Solutions (NASDAQ:MDSO) last announced its quarterly earnings results on Thursday, April 21st. The company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The company had revenue of $104.20 million for the quarter, compared to the consensus estimate of $103.22 million. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. Equities research analysts forecast that Medidata Solutions Inc. will post $1.01 earnings per share for the current year.
In other news, EVP Eileen Schloss sold 68,717 shares of the business’s stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $46.53, for a total transaction of $3,197,402.01. Following the completion of the transaction, the executive vice president now owns 22,361 shares of the company’s stock, valued at $1,040,457.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tarek Sherif sold 7,500 shares of the business’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $45.00, for a total value of $337,500.00. Following the transaction, the chief executive officer now directly owns 914,349 shares of the company’s stock, valued at approximately $41,145,705. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have modified their holdings of MDSO. State of Tennessee Treasury Department acquired a new position in shares of Medidata Solutions during the fourth quarter valued at approximately $2,124,000. Century Capital Management LLC raised its position in shares of Medidata Solutions by 18.8% in the fourth quarter. Century Capital Management LLC now owns 126,397 shares of the company’s stock valued at $6,230,000 after buying an additional 20,027 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Medidata Solutions by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 372,108 shares of the company’s stock valued at $18,341,000 after buying an additional 12,610 shares during the last quarter. Bank of Montreal Can raised its position in shares of Medidata Solutions by 96.6% in the fourth quarter. Bank of Montreal Can now owns 33,760 shares of the company’s stock valued at $1,664,000 after buying an additional 16,587 shares during the last quarter. Finally, Sawtooth Asset Management Inc. raised its position in shares of Medidata Solutions by 7,730.8% in the fourth quarter. Sawtooth Asset Management Inc. now owns 20,360 shares of the company’s stock valued at $1,004,000 after buying an additional 20,100 shares during the last quarter.
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 Medidata Clinical Cloud provides a platform of technology and data analytics solutions designed to manage activities across clinical development.
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