Medidata Solutions, Inc. (MDSO) Upgraded 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.
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 research firms have also issued reports on MDSO. J P Morgan Chase & Co raised their price target on shares of Medidata Solutions to $87.00 and gave the stock an overweight rating in a research report on Tuesday, July 18th. Royal Bank Of Canada reissued a hold rating and set a $80.00 price target on shares of Medidata Solutions in a research report on Friday, October 27th. KeyCorp reissued a buy rating and set a $86.00 price target on shares of Medidata Solutions in a research report on Sunday, September 17th. Wells Fargo & Company reduced 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 report on Friday, October 27th. Finally, Morgan Stanley raised their price target on shares of Medidata Solutions from $74.00 to $86.00 and gave the stock an overweight rating in a research report on Thursday, July 20th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $84.25.
Medidata Solutions (MDSO) traded up $0.73 on Friday, reaching $65.69. 516,200 shares of the company’s stock were exchanged, compared to its average volume of 734,635. Medidata Solutions has a 12 month low of $47.77 and a 12 month high of $85.92. The company has a quick ratio of 3.37, a current ratio of 1.29 and a debt-to-equity ratio of 0.61. The stock has a market cap of $3,840.30, a price-to-earnings ratio of 79.14, a PEG ratio of 3.95 and a beta of 1.78.
Medidata Solutions (NASDAQ:MDSO) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Medidata Solutions had a net margin of 7.84% and a return on equity of 11.54%. The company had revenue of $140.08 million during the quarter, compared to analyst estimates of $141.27 million. During the same period last year, the firm posted $0.28 EPS. Medidata Solutions’s revenue for the quarter was up 16.7% compared to the same quarter last year. equities research analysts anticipate that Medidata Solutions will post 0.77 EPS for the current fiscal year.
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In related news, CEO Tarek Sherif sold 200,000 shares of Medidata Solutions stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $68.76, for a total value of $13,752,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Taylor sold 5,000 shares of Medidata Solutions stock in a transaction on Monday, November 6th. The shares were sold at an average price of $71.39, for a total transaction of $356,950.00. Following the completion of the sale, the director now directly owns 49,372 shares in the company, valued at approximately $3,524,667.08. The disclosure for this sale can be found here. Insiders sold a total of 220,000 shares of company stock worth $15,190,400 in the last three months. 5.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. grew its stake in Medidata Solutions by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 8,430 shares of the company’s stock valued at $659,000 after acquiring an additional 22 shares during the period. 1st Global Advisors Inc. lifted its holdings in Medidata Solutions by 0.5% in the 2nd quarter. 1st Global Advisors Inc. now owns 8,243 shares of the company’s stock valued at $645,000 after purchasing an additional 37 shares in the last quarter. World Asset Management Inc lifted its holdings in Medidata Solutions by 1.2% in the 2nd quarter. World Asset Management Inc now owns 3,528 shares of the company’s stock valued at $276,000 after purchasing an additional 43 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Medidata Solutions by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 33,828 shares of the company’s stock valued at $2,645,000 after purchasing an additional 109 shares in the last quarter. Finally, Pinebridge Investments L.P. lifted its holdings in Medidata Solutions by 2.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 7,305 shares of the company’s stock valued at $572,000 after purchasing an additional 153 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.
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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