Medidata Solutions Inc. (NASDAQ:MDSO) shares traded down 3.1% on Friday after an insider sold shares in the company. The stock traded as low as $50.58 and last traded at $50.69, with a volume of 339,565 shares. The stock had previously closed at $52.32.
Specifically, EVP Michael I. Otner sold 7,500 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $51.27, for a total value of $384,525.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Steven Isaac Hirschfeld sold 20,825 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $52.89, for a total value of $1,101,434.25. Following the completion of the transaction, the insider now directly owns 111,225 shares in the company, valued at $5,882,690.25. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
Several brokerages have issued reports on MDSO. Morgan Stanley reissued a “buy” rating and issued a $61.00 target price on shares of Medidata Solutions in a research report on Thursday, August 25th. Deutsche Bank AG raised their price objective on Medidata Solutions from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, September 13th. TheStreet raised Medidata Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, August 25th. Wells Fargo & Co. downgraded Medidata Solutions from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective (up previously from $55.00) on shares of Medidata Solutions in a research note on Sunday, July 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. Medidata Solutions currently has a consensus rating of “Buy” and a consensus target price of $54.09.
The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 130.31 and a beta of 1.29. The firm’s 50-day moving average is $55.00 and its 200-day moving average is $48.41.
Medidata Solutions (NASDAQ:MDSO) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The business had revenue of $114.60 million for the quarter, compared to the consensus estimate of $112.39 million. Medidata Solutions had a return on equity of 10.32% and a net margin of 5.29%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 EPS. On average, equities analysts expect that Medidata Solutions Inc. will post $1.01 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Teachers Advisors Inc. increased its stake in shares of Medidata Solutions by 0.9% in the first quarter. Teachers Advisors Inc. now owns 91,369 shares of the company’s stock worth $3,537,000 after buying an additional 778 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Medidata Solutions by 3.5% in the first quarter. Prudential Financial Inc. now owns 184,080 shares of the company’s stock worth $7,126,000 after buying an additional 6,240 shares during the last quarter. BlackRock Inc. increased its stake in shares of Medidata Solutions by 127.8% in the first quarter. BlackRock Inc. now owns 3,690 shares of the company’s stock worth $143,000 after buying an additional 2,070 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Medidata Solutions by 9.0% in the first quarter. BlackRock Group LTD now owns 71,429 shares of the company’s stock worth $2,765,000 after buying an additional 5,907 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Medidata Solutions by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,359,364 shares of the company’s stock worth $52,621,000 after buying an additional 13,786 shares during the last quarter.
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 Medidata Clinical Cloud provides a platform of technology and data analytics solutions designed to manage activities across clinical development.
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