Medidata Solutions, Inc. (MDSO) Position Reduced by Turner Investments LLC
Turner Investments LLC trimmed its position in shares of Medidata Solutions, Inc. (NASDAQ:MDSO) by 91.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,750 shares of the company’s stock after selling 18,750 shares during the quarter. Turner Investments LLC’s holdings in Medidata Solutions were worth $137,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Fortaleza Asset Management Inc. purchased a new stake in Medidata Solutions during the 3rd quarter valued at about $155,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Medidata Solutions by 10.5% during 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 last quarter. Parametrica Management Ltd purchased a new stake in Medidata Solutions during the 2nd quarter valued at about $216,000. Cubist Systematic Strategies LLC purchased a new stake in Medidata Solutions during the 2nd quarter valued at about $227,000. Finally, ETF Managers Group LLC purchased a new stake in Medidata Solutions during the 2nd quarter valued at about $233,000. 97.52% of the stock is currently owned by institutional investors.
Several analysts recently commented on MDSO shares. Jefferies Group LLC reissued a “hold” rating and set a $78.00 price objective on shares of Medidata Solutions in a research report on Tuesday, August 22nd. KeyCorp restated a “buy” rating and set a $86.00 target price on shares of Medidata Solutions in a research note on Sunday, September 17th. Royal Bank Of Canada initiated coverage on shares of Medidata Solutions in a research note on Tuesday, September 19th. They set a “sector perform” rating and a $82.00 target price on the stock. Zacks Investment Research upgraded shares of Medidata Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Finally, Wells Fargo & Company lowered their target price on shares of Medidata Solutions from $83.00 to $80.00 and set a “market perform” rating on the stock in a research note on Friday, October 27th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Medidata Solutions has an average rating of “Buy” and an average price target of $83.54.
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Shares of Medidata Solutions, Inc. (NASDAQ:MDSO) traded up $0.82 during trading hours on Wednesday, hitting $69.89. 308,200 shares of the stock traded hands, compared to its average volume of 546,757. Medidata Solutions, Inc. has a 52-week low of $47.77 and a 52-week 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 company has a market cap of $4,037.90, a PE ratio of 83.22, a PEG ratio of 4.46 and a beta of 1.78.
Medidata Solutions (NASDAQ:MDSO) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $140.08 million for the quarter, compared to analysts’ expectations of $141.27 million. During the same quarter in the prior year, the business earned $0.28 EPS. The business’s quarterly revenue was up 16.7% on a year-over-year basis. equities analysts forecast that Medidata Solutions, Inc. will post 0.77 earnings per share for the current year.
In other 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 legal filing with the SEC, which is available at the SEC website. Also, Director Robert Taylor sold 5,000 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $71.39, for a total transaction of $356,950.00. Following the completion of the transaction, the director now 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 225,944 shares of company stock worth $15,568,274 in the last quarter. Company insiders own 5.80% of the company’s stock.
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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