Medidata Solutions Inc. (MDSO) Sees Large Volume Increase
Medidata Solutions Inc. (NASDAQ:MDSO) saw unusually-strong trading volume on Monday . Approximately 305,006 shares traded hands during 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.
A number of analysts have issued reports on MDSO shares. Citigroup Inc. lifted their price target on Medidata Solutions from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, April 22nd. Needham & Company LLC reiterated a “buy” rating and set 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 set 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 assumed coverage on Medidata Solutions in a research report on Tuesday, April 26th. They set a “market perform” rating and a $47.00 target price on the stock. Finally, KeyCorp reiterated a “buy” rating and set a $55.00 target price on shares of Medidata Solutions in a research report on Sunday, May 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $51.20.
The firm has a market cap of $2.79 billion and a P/E ratio of 154.862. The firm’s 50 day moving average price is $46.48 and its 200 day moving average price is $41.83.
Medidata Solutions (NASDAQ:MDSO) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. During the same period in the previous year, the company earned $0.22 earnings per share. The firm earned $114.60 million during the quarter, compared to analysts’ expectations of $112.39 million. On average, equities research analysts forecast that Medidata Solutions Inc. will post $1.01 earnings per share for the current fiscal year.
In other Medidata Solutions news, Vice Chairman Steven Isaac Hirschfeld sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 27th. The shares were sold at an average price of $45.09, for a total value of $450,900.00. Following the transaction, the insider now owns 125,867 shares of the company’s stock, valued at $5,675,343.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Vries Glen Michael De sold 7,500 shares of the firm’s stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $46.36, for a total transaction of $347,700.00. Following the completion of the transaction, the president now directly owns 1,086,425 shares in the company, valued at approximately $50,366,663. The disclosure for this sale can be found here.
Other institutional investors have modified their holdings of the company. Brown Advisory Inc. boosted its position in shares of Medidata Solutions by 28.1% in the fourth quarter. Brown Advisory Inc. now owns 662,156 shares of the company’s stock worth $32,638,000 after buying an additional 145,439 shares in the last quarter. State of Tennessee Treasury Department acquired a new position in shares of Medidata Solutions during the fourth quarter worth about $2,124,000. Sawtooth Asset Management Inc. boosted 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 worth $1,004,000 after buying an additional 20,100 shares in the last quarter. Century Capital Management LLC boosted 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 worth $6,230,000 after buying an additional 20,027 shares in the last quarter. Finally, Bank of Montreal Can boosted 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 worth $1,664,000 after buying an additional 16,587 shares in 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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