Medidata Solutions Inc. (NASDAQ:MDSO) dropped 4.1% on Thursday . The company traded as low as $51.33 and last traded at $51.38, with a volume of 549,523 shares trading hands. The stock had previously closed at $53.58.

MDSO has been the subject of a number of recent analyst reports. Citigroup Inc. raised their price objective on Medidata Solutions from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, April 22nd. Needham & Company LLC restated a “buy” rating and set a $57.00 price objective (up previously from $45.00) on shares of Medidata Solutions in a research note on Friday, April 22nd. Topeka Capital Markets reaffirmed a “buy” rating and set a $51.00 target price (up previously from $44.00) on shares of Medidata Solutions in a report on Friday, April 22nd. KeyCorp reaffirmed a “buy” rating on shares of Medidata Solutions in a report on Thursday, July 7th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Medidata Solutions in a report on Friday, June 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $51.20.

The company has a market cap of $2.86 billion and a price-to-earnings ratio of 132.72. The stock has a 50 day moving average of $47.00 and a 200 day moving average of $42.01.

Medidata Solutions (NASDAQ:MDSO) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. During the same period in the prior year, the firm earned $0.22 EPS. The company earned $114.60 million during the quarter, compared to analyst estimates of $112.39 million. Medidata Solutions’s quarterly revenue was up 16.8% on a year-over-year basis. On average, analysts forecast that Medidata Solutions Inc. will post $1.01 earnings per share for the current year.

In other news, Vice Chairman Steven Isaac Hirschfeld sold 10,000 shares of Medidata Solutions stock in a transaction dated Wednesday, April 27th. The stock was sold at an average price of $45.09, for a total value of $450,900.00. Following the transaction, the insider now directly owns 125,867 shares in the company, valued at $5,675,343.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Vries Glen Michael De sold 32,500 shares of Medidata Solutions stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $49.25, for a total value of $1,600,625.00. Following the completion of the transaction, the president now owns 1,015,153 shares in the company, valued at $49,996,285.25. The disclosure for this sale can be found here.

Several institutional investors have bought and sold shares of the company. State of Tennessee Treasury Department acquired a new position in Medidata Solutions during the fourth quarter worth approximately $2,124,000. Sawtooth Asset Management Inc. raised its position in 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 during the last quarter. Century Capital Management LLC raised its position in 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 during the last quarter. Bank of Montreal Can raised its position in 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 during the last quarter. Finally, Principal Financial Group Inc. raised its position in Medidata Solutions by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 372,108 shares of the company’s stock worth $18,341,000 after buying an additional 12,610 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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