First Trust Advisors LP Increases Position in Medidata Solutions, Inc. (MDSO)
First Trust Advisors LP boosted its stake in Medidata Solutions, Inc. (NASDAQ:MDSO) by 25.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 44,389 shares of the company’s stock after buying an additional 8,943 shares during the period. First Trust Advisors LP owned approximately 0.08% of Medidata Solutions worth $3,465,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in MDSO. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Medidata Solutions by 10.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,186 shares of the company’s stock valued at $171,000 after purchasing an additional 208 shares during the period. Parametrica Management Ltd bought a new stake in Medidata Solutions in the 2nd quarter valued at about $216,000. Cubist Systematic Strategies LLC bought a new stake in Medidata Solutions in the 2nd quarter valued at about $227,000. ETF Managers Group LLC bought a new stake in Medidata Solutions in the 2nd quarter valued at about $233,000. Finally, GSA Capital Partners LLP bought a new stake in Medidata Solutions in the 2nd quarter valued at about $260,000. Institutional investors and hedge funds own 97.52% of the company’s stock.
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In related news, CEO Tarek Sherif sold 200,000 shares of the stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael L. Capone sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $66.33, for a total transaction of $331,650.00. The disclosure for this sale can be found here. In the last three months, insiders sold 220,000 shares of company stock valued at $15,149,400. 5.80% of the stock is owned by insiders.
Medidata Solutions (NASDAQ:MDSO) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 the consensus estimate of $141.27 million. During the same quarter in the prior year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. research analysts forecast that Medidata Solutions, Inc. will post 0.77 earnings per share for the current year.
A number of analysts have issued reports on the stock. Dougherty & Co raised shares of Medidata Solutions from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Monday, November 13th. Zacks Investment Research raised shares of Medidata Solutions from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Royal Bank Of Canada reissued a “hold” rating and issued a $80.00 price objective on shares of Medidata Solutions in a report on Friday, October 27th. 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 shares of 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 analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $83.54.
Medidata Solutions Company Profile
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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