Medidata Solutions Inc. (MDSO) Shares Gap Up to $48.17
Medidata Solutions Inc. (NASDAQ:MDSO)’s share price gapped up prior to trading on Monday . The stock had previously closed at $47.96, but opened at $48.17. Medidata Solutions shares last traded at $49.29, with a volume of 271,173 shares trading hands.
Several brokerages have recently issued reports on MDSO. Citigroup Inc. boosted their price objective on Medidata Solutions from $40.00 to $55.00 and gave the company a “buy” rating in a report on Friday, April 22nd. Leerink Swann reissued a “market perform” rating on shares of Medidata Solutions in a report on Monday, April 25th. Zacks Investment Research raised Medidata Solutions from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Friday, April 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $57.00 price target (up previously from $45.00) on shares of Medidata Solutions in a report on Friday, April 22nd. Finally, KeyCorp reaffirmed a “buy” rating and issued a $55.00 price target on shares of Medidata Solutions in a report on Sunday, May 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $51.20.
The company’s 50-day moving average price is $45.90 and its 200 day moving average price is $41.80. The stock has a market capitalization of $2.73 billion and a price-to-earnings ratio of 151.32.
Medidata Solutions (NASDAQ:MDSO) last released its quarterly earnings results on Thursday, April 21st. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.07. The company had revenue of $104.20 million for the quarter, compared to analysts’ expectations of $103.22 million. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 EPS. Equities analysts expect that Medidata Solutions Inc. will post $1.01 EPS for the current fiscal year.
In related news, Vice Chairman Steven Isaac Hirschfeld sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 27th. The stock was sold at an average price of $45.09, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Tarek Sherif sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $46.35, for a total value of $347,625.00. The disclosure for this sale can be found here.
Several institutional investors recently added to or reduced their stakes in MDSO. 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 worth $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 worth $2,854,000 after buying an additional 345 shares in the last quarter. IronBridge Capital Management LP raised its position in Medidata Solutions by 0.3% in the fourth quarter. IronBridge Capital Management LP now owns 276,985 shares of the company’s stock worth $13,653,000 after buying an additional 830 shares in the last quarter. California State Teachers Retirement System raised its position in Medidata Solutions by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 102,419 shares of the company’s stock worth $5,048,000 after buying an additional 1,663 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 worth $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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