Medidata Solutions, Inc. (NASDAQ:MDSO) to Post FY2017 Earnings of $0.82 Per Share, SunTrust Banks Forecasts
Medidata Solutions, Inc. (NASDAQ:MDSO) – Research analysts at SunTrust Banks lowered their FY2017 earnings per share (EPS) estimates for Medidata Solutions in a note issued to investors on Wednesday. SunTrust Banks analyst S. Draper now anticipates that the company will post earnings of $0.82 per share for the year, down from their previous forecast of $0.84. SunTrust Banks currently has a “Buy” rating and a $90.00 target price on the stock. SunTrust Banks also issued estimates for Medidata Solutions’ Q4 2017 earnings at $0.23 EPS, FY2018 earnings at $0.93 EPS and FY2019 earnings at $1.23 EPS.
Medidata Solutions (NASDAQ:MDSO) last issued its earnings results on Tuesday, July 18th. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.03. The firm had revenue of $137.41 million during the quarter, compared to the consensus estimate of $134.28 million. Medidata Solutions had a return on equity of 11.14% and a net margin of 7.07%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. ILLEGAL ACTIVITY WARNING: “Medidata Solutions, Inc. (NASDAQ:MDSO) to Post FY2017 Earnings of $0.82 Per Share, SunTrust Banks Forecasts” was first posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark law. The correct version of this news story can be viewed at https://www.dailypolitical.com/2017/07/26/medidata-solutions-inc-nasdaqmdso-to-post-fy2017-earnings-of-0-82-per-share-suntrust-banks-forecasts.html.
Several other research analysts also recently commented on the company. Bank of America Corporation began coverage on Medidata Solutions in a research note on Tuesday, June 6th. They issued a “buy” rating and a $85.00 target price for the company. Zacks Investment Research downgraded Medidata Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, April 13th. BidaskClub upgraded Medidata Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Jefferies Group LLC upgraded Medidata Solutions from an “underperform” rating to a “hold” rating and dropped their price target for the company from $47.00 to $46.00 in a research report on Monday, May 1st. Finally, Needham & Company LLC lifted their price target on Medidata Solutions from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, April 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $78.17.
Shares of Medidata Solutions (MDSO) traded down 1.684% on Monday, reaching $76.795. The company’s stock had a trading volume of 196,629 shares. The firm’s 50-day moving average price is $77.66 and its 200-day moving average price is $64.03. Medidata Solutions has a 12 month low of $46.10 and a 12 month high of $85.92. The stock has a market cap of $4.33 billion, a P/E ratio of 124.063 and a beta of 1.81.
Institutional investors have recently made changes to their positions in the stock. Brown Capital Management LLC boosted its position in shares of Medidata Solutions by 0.6% in the first quarter. Brown Capital Management LLC now owns 5,921,818 shares of the company’s stock worth $341,630,000 after buying an additional 33,042 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Medidata Solutions by 5.1% in the first quarter. Vanguard Group Inc. now owns 4,874,974 shares of the company’s stock worth $281,237,000 after buying an additional 235,190 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Medidata Solutions by 61.4% in the first quarter. Clearbridge Investments LLC now owns 2,449,038 shares of the company’s stock worth $141,285,000 after buying an additional 931,729 shares in the last quarter. Champlain Investment Partners LLC boosted its position in shares of Medidata Solutions by 11.5% in the first quarter. Champlain Investment Partners LLC now owns 1,653,230 shares of the company’s stock worth $95,375,000 after buying an additional 169,870 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Medidata Solutions by 17.1% in the first quarter. State Street Corp now owns 1,432,120 shares of the company’s stock worth $82,615,000 after buying an additional 209,074 shares in the last quarter.
In related news, COO Michael L. Capone sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $69.46, for a total transaction of $347,300.00. Following the transaction, the chief operating officer now directly owns 171,754 shares of the company’s stock, valued at approximately $11,930,032.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael I. Otner sold 7,500 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $66.39, for a total value of $497,925.00. Following the transaction, the executive vice president now directly owns 78,419 shares in the company, valued at $5,206,237.41. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,139 shares of company stock worth $1,259,466. 5.80% of the stock is currently owned by insiders.
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 Company’s plan study addresses three areas to ensure optimal study design, grant development and negotiation, and investigator payments.
Receive News & Ratings for Medidata Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medidata Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.