Medidata Solutions Inc. (MDSO) Stock Price Down 3.1% After Insider Selling
Medidata Solutions Inc. (NASDAQ:MDSO) shares dropped 3.1% on Friday following insider selling activity. The company traded as low as $50.58 and last traded at $50.69, with a volume of 339,565 shares. The stock had previously closed at $52.32.
Specifically, Vice Chairman Steven Isaac Hirschfeld sold 20,825 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $52.89, for a total value of $1,101,434.25. Following the sale, the insider now directly owns 111,225 shares in the company, valued at $5,882,690.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Vries Glen Michael De sold 7,500 shares of the stock in a transaction on Tuesday, October 11th. The shares were sold at an average price of $54.72, for a total value of $410,400.00. Following the completion of the sale, the president now owns 942,653 shares in the company, valued at $51,581,972.16. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
Several brokerages have recently issued reports on MDSO. Morgan Stanley reiterated a “buy” rating and issued a $61.00 price objective on shares of Medidata Solutions in a research note on Thursday, August 25th. Deutsche Bank AG raised their price target on Medidata Solutions from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, September 13th. TheStreet upgraded Medidata Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, August 25th. Wells Fargo & Co. cut Medidata Solutions from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $60.00 price target (up from $55.00) on shares of Medidata Solutions in a research note on Sunday, July 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. Medidata Solutions currently has a consensus rating of “Buy” and a consensus target price of $54.09.
The company has a market cap of $2.76 billion, a PE ratio of 127.76 and a beta of 1.29. The stock has a 50-day moving average price of $54.90 and a 200-day moving average price of $48.50.
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. Medidata Solutions had a net margin of 5.29% and a return on equity of 10.32%. The firm earned $114.60 million during the quarter, compared to analysts’ expectations of $112.39 million. During the same period in the prior year, the company earned $0.22 EPS. The firm’s revenue was up 16.8% on a year-over-year basis. On average, equities research analysts expect that Medidata Solutions Inc. will post $1.01 EPS for the current year.
A number of hedge funds have recently made changes to their positions in MDSO. LS Investment Advisors LLC boosted its stake in shares of Medidata Solutions by 9.2% in the second quarter. LS Investment Advisors LLC now owns 2,411 shares of the company’s stock worth $113,000 after buying an additional 203 shares during the period. BlackRock Inc. boosted its position in Medidata Solutions by 127.8% in the first quarter. BlackRock Inc. now owns 3,690 shares of the company’s stock worth $143,000 after buying an additional 2,070 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Medidata Solutions by 5.3% in the second quarter. Tower Research Capital LLC TRC now owns 3,498 shares of the company’s stock worth $164,000 after buying an additional 177 shares during the last quarter. Parkwood LLC purchased a new position in Medidata Solutions during the second quarter worth $200,000. Finally, Shelton Capital Management purchased a new position in Medidata Solutions during the second quarter worth $218,000.
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 Medidata Clinical Cloud provides a platform of technology and data analytics solutions designed to manage activities across clinical development.
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