Medidata Solutions, Inc. (MDSO) Upgraded by Dougherty & Co to “Buy”
Dougherty & Co upgraded shares of Medidata Solutions, Inc. (NASDAQ:MDSO) from a neutral rating to a buy rating in a research note released on Monday morning, Marketbeat.com reports. The brokerage currently has $75.00 target price on the stock.
Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Medidata Solutions from a buy rating to a hold rating in a report on Monday, July 24th. Royal Bank Of Canada assumed coverage on Medidata Solutions in a report on Tuesday, September 19th. They issued a sector perform rating and a $82.00 price objective for the company. Needham & Company LLC reissued a buy rating and issued a $90.00 price objective (up previously from $75.00) on shares of Medidata Solutions in a report on Friday, July 21st. SunTrust Banks, Inc. reissued a buy rating and issued a $92.00 price objective on shares of Medidata Solutions in a report on Friday, October 27th. Finally, Wells Fargo & Company cut their price objective on Medidata Solutions from $83.00 to $80.00 and set a market perform rating for the company in a report on Friday, October 27th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $83.54.
Medidata Solutions (NASDAQ MDSO) traded up $2.25 during midday trading on Monday, hitting $69.49. The stock had a trading volume of 1,044,000 shares, compared to its average volume of 549,824. The firm has a market cap of $4,060.00, a P/E ratio of 81.01, a PEG ratio of 4.34 and a beta of 1.77. The company has a current ratio of 1.29, a quick ratio of 3.37 and a debt-to-equity ratio of 0.61. Medidata Solutions has a 12 month low of $47.77 and a 12 month high of $85.92.
Medidata Solutions (NASDAQ:MDSO) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The company had revenue of $140.08 million during the quarter, compared to the consensus estimate of $141.27 million. Medidata Solutions had a return on equity of 11.54% and a net margin of 7.84%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 EPS. equities analysts predict that Medidata Solutions will post 0.77 EPS for the current fiscal year.
In other Medidata Solutions news, CEO Tarek Sherif sold 200,000 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $68.76, for a total transaction of $13,752,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael I. Otner sold 10,000 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $70.88, for a total value of $708,800.00. Following the transaction, the executive vice president now owns 80,674 shares in the company, valued at approximately $5,718,173.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 215,000 shares of company stock worth $14,817,750. 5.80% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Alps Advisors Inc. increased its position in Medidata Solutions by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 8,430 shares of the company’s stock worth $659,000 after buying an additional 22 shares during the period. 1st Global Advisors Inc. increased its position in Medidata Solutions by 0.5% during the 2nd quarter. 1st Global Advisors Inc. now owns 8,243 shares of the company’s stock worth $645,000 after buying an additional 37 shares during the period. World Asset Management Inc increased its position in Medidata Solutions by 1.2% during the 2nd quarter. World Asset Management Inc now owns 3,528 shares of the company’s stock worth $276,000 after buying an additional 43 shares during the period. State Board of Administration of Florida Retirement System increased its position in Medidata Solutions by 0.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 33,828 shares of the company’s stock worth $2,645,000 after buying an additional 109 shares during the period. Finally, Pinebridge Investments L.P. increased its position in Medidata Solutions by 2.1% during the 2nd quarter. Pinebridge Investments L.P. now owns 7,305 shares of the company’s stock worth $572,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors 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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