Medidata Solutions Inc (MDSO) Cut to “Hold” at Zacks Investment Research
Medidata Solutions Inc (NASDAQ:MDSO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
MDSO has been the topic of several other reports. Jefferies Group LLC restated an “underperform” rating and set a $47.00 price target (up from $46.00) on shares of Medidata Solutions in a research note on Thursday, February 16th. Morgan Stanley boosted their price target on Medidata Solutions from $63.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, April 28th. Needham & Company LLC boosted their price target on Medidata Solutions from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, April 27th. Piper Jaffray Companies boosted their price target on Medidata Solutions from $60.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, April 11th. Finally, SunTrust Banks, Inc. upgraded Medidata Solutions from a “neutral” rating to a “buy” rating and boosted their price target for the company from $60.00 to $70.00 in a research note on Friday, February 10th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $67.67.
Medidata Solutions (NASDAQ:MDSO) traded up 1.89% during midday trading on Wednesday, hitting $69.49. The stock had a trading volume of 434,127 shares. The company’s 50-day moving average price is $64.25 and its 200 day moving average price is $55.94. The stock has a market cap of $3.91 billion, a P/E ratio of 117.98 and a beta of 1.61. Medidata Solutions has a 12-month low of $41.65 and a 12-month high of $71.67.
Medidata Solutions (NASDAQ:MDSO) last issued its quarterly earnings results on Wednesday, April 26th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.20. Medidata Solutions had a return on equity of 10.82% and a net margin of 6.25%. The firm had revenue of $126.80 million for the quarter, compared to analyst estimates of $125.90 million. During the same period in the previous year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts predict that Medidata Solutions will post $1.29 earnings per share for the current fiscal year.
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In other Medidata Solutions news, COO Michael L. Capone sold 5,000 shares of Medidata Solutions stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $69.46, for a total transaction of $347,300.00. Following the sale, the chief operating officer now directly owns 171,754 shares of the company’s stock, valued at $11,930,032.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Vries Glen Michael De sold 7,500 shares of Medidata Solutions stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $56.05, for a total value of $420,375.00. Following the sale, the president now directly owns 934,929 shares in the company, valued at $52,402,770.45. The disclosure for this sale can be found here. Insiders have sold 30,464 shares of company stock worth $1,862,735 over the last ninety days. Company insiders own 6.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in MDSO. 1st Global Advisors Inc. increased its stake in Medidata Solutions by 0.9% in the first quarter. 1st Global Advisors Inc. now owns 8,206 shares of the company’s stock worth $473,000 after buying an additional 75 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Medidata Solutions by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 6,080 shares of the company’s stock worth $350,000 after buying an additional 130 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Medidata Solutions by 1.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 12,470 shares of the company’s stock worth $719,000 after buying an additional 200 shares during the last quarter. Arcadia Investment Management Corp MI increased its stake in Medidata Solutions by 0.6% in the first quarter. Arcadia Investment Management Corp MI now owns 45,895 shares of the company’s stock worth $2,648,000 after buying an additional 275 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Medidata Solutions by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 22,300 shares of the company’s stock worth $1,286,000 after buying an additional 300 shares during the last quarter. 99.63% of the stock is currently owned by institutional investors.
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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