Medidata Solutions Inc. (MDSO) Hits New 12-Month High at $55.25
Medidata Solutions Inc. (NASDAQ:MDSO) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $55.25 and last traded at $54.56, with a volume of 109,914 shares traded. The stock had previously closed at $53.99.
A number of equities research analysts have recently issued reports on MDSO shares. Needham & Company LLC started coverage on Medidata Solutions in a research report on Monday, July 11th. They set a “buy” rating and a $55.00 target price on the stock. KeyCorp reissued a “buy” rating on shares of Medidata Solutions in a research report on Thursday, July 7th. Morgan Stanley reissued a “buy” rating on shares of Medidata Solutions in a research report on Friday, June 10th. Zacks Investment Research raised Medidata Solutions from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Friday, April 29th. Finally, Topeka Capital Markets reissued a “buy” rating and set a $51.00 price target (up from $44.00) on shares of Medidata Solutions in a research report on Friday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $51.70.
The company has a market capitalization of $3.00 billion and a P/E ratio of 139.36. The stock has a 50 day moving average of $48.72 and a 200-day moving average of $42.53.
Medidata Solutions (NASDAQ:MDSO) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The company earned $114.60 million during the quarter, compared to the consensus estimate of $112.39 million. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. Analysts expect that Medidata Solutions Inc. will post $1.01 earnings per share for the current year.
In other Medidata Solutions news, EVP Eileen Schloss sold 10,644 shares of Medidata Solutions stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $52.82, for a total transaction of $562,216.08. Following the transaction, the executive vice president now directly owns 25,765 shares in the company, valued at $1,360,907.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Tarek Sherif sold 7,500 shares of Medidata Solutions stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $52.97, for a total value of $397,275.00. Following the transaction, the chief executive officer now owns 870,080 shares in the company, valued at $46,088,137.60. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have bought and sold shares of the company. 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 valued at $1,664,000 after buying an additional 16,587 shares in the last quarter. State of Tennessee Treasury Department acquired a new position in Medidata Solutions during the fourth quarter valued at $2,124,000. Comerica Bank raised its position in Medidata Solutions by 0.6% in the fourth quarter. Comerica Bank now owns 56,344 shares of the company’s stock valued at $2,562,000 after buying an additional 342 shares in the last quarter. Mutual of America Capital Management LLC raised its position in Medidata Solutions by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 57,900 shares of the company’s stock valued at $2,854,000 after buying an additional 345 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Medidata Solutions by 9.4% in the fourth quarter. Rhumbline Advisers now owns 68,254 shares of the company’s stock valued at $3,364,000 after buying an additional 5,855 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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