Medidata Solutions, Inc. (MDSO) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Medidata Solutions, Inc. (NASDAQ:MDSO) from a sell rating to a hold rating in a report issued on Friday morning.
According to Zacks, “Medidata Solutions is a leading global provider of hosted clinical development solutions that enhance the efficiency of customers’ clinical development processes and optimize their research and development investments. Medidata products and services allow customers to achieve clinical results more efficiently and effectively by streamlining the design, planning and management of key aspects of the clinical development process, including protocol development (Medidata Designer), investigator benchmarking and budgeting (Medidata Grants Manager), contract research organization (CRO) benchmarking and budgeting (Medidata CRO Contractor), and the capture, management, analysis and reporting of clinical trial data (Medidata Rave). Medidata’s diverse customer base spans pharmaceutical, biotechnology and medical device companies, academic institutions, CROs and other research organizations, and includes some top global pharmaceutical companies. “
A number of other analysts have also recently commented on the stock. Wells Fargo & Company cut their price target on shares of Medidata Solutions from $83.00 to $80.00 and set a market perform rating for the company in a research note on Friday, October 27th. J P Morgan Chase & Co raised their target price on shares of Medidata Solutions to $87.00 and gave the stock an overweight rating in a research note on Tuesday, July 18th. Citigroup Inc. restated a buy rating and set a $95.00 target price (up previously from $94.00) on shares of Medidata Solutions in a research note on Monday, July 24th. SunTrust Banks, Inc. restated a buy rating and set a $92.00 target price on shares of Medidata Solutions in a research note on Friday, October 27th. Finally, Morgan Stanley raised their target price on shares of Medidata Solutions from $74.00 to $86.00 and gave the stock an overweight rating in a research note on Thursday, July 20th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Medidata Solutions currently has a consensus rating of Buy and an average price target of $83.54.
Shares of Medidata Solutions (NASDAQ MDSO) opened at $66.95 on Friday. The company has a market cap of $3,840.30, a price-to-earnings ratio of 79.14, a price-to-earnings-growth ratio of 3.95 and a beta of 1.78. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.29 and a quick ratio of 3.37. Medidata Solutions has a 12 month low of $47.77 and a 12 month high of $85.92.
Medidata Solutions (NASDAQ:MDSO) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $140.08 million during the quarter, compared to analysts’ expectations of $141.27 million. Medidata Solutions had a net margin of 7.84% and a return on equity of 11.54%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.28 earnings per share. equities research analysts expect that Medidata Solutions will post 0.77 EPS for the current year.
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In other Medidata Solutions news, Director Robert Taylor sold 5,000 shares of Medidata Solutions stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $71.39, for a total value of $356,950.00. Following the completion of the sale, the director now owns 49,372 shares in the company, valued at approximately $3,524,667.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tarek Sherif sold 200,000 shares of Medidata Solutions stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $68.76, for a total transaction of $13,752,000.00. The disclosure for this sale can be found here. Insiders sold a total of 215,000 shares of company stock valued at $14,817,750 in the last quarter. Corporate insiders own 5.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of MDSO. OppenheimerFunds Inc. raised its stake in Medidata Solutions by 28.4% in the 1st quarter. OppenheimerFunds Inc. now owns 6,863 shares of the company’s stock worth $396,000 after purchasing an additional 1,517 shares in the last quarter. Teachers Advisors LLC raised its stake in Medidata Solutions by 254.0% in the 1st quarter. Teachers Advisors LLC now owns 371,554 shares of the company’s stock worth $21,435,000 after purchasing an additional 266,606 shares in the last quarter. UBS Group AG raised its stake in Medidata Solutions by 6.7% in the 1st quarter. UBS Group AG now owns 11,752 shares of the company’s stock worth $678,000 after purchasing an additional 737 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Medidata Solutions by 4.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 228,727 shares of the company’s stock worth $13,196,000 after purchasing an additional 10,736 shares in the last quarter. Finally, State Street Corp raised its stake in Medidata Solutions by 17.1% in the 1st quarter. State Street Corp now owns 1,432,120 shares of the company’s stock worth $82,615,000 after purchasing an additional 209,074 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.
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.
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