Medidata Solutions, Inc. (MDSO) Stock Rating Lowered by Zacks Investment Research
Medidata Solutions, Inc. (NASDAQ:MDSO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
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 a number of other research reports. Morgan Stanley increased 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 increased 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 increased their price target on Medidata Solutions to $87.00 and gave the company an “overweight” rating in a research note on Friday, July 7th. BidaskClub upgraded Medidata Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Finally, Bank of America Corporation assumed coverage on Medidata Solutions in a research note on Tuesday, June 6th. They issued a “buy” rating and a $85.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $78.08.
Medidata Solutions (NASDAQ MDSO) traded down 1.32% during trading on Friday, hitting $74.78. 525,096 shares of the stock were exchanged. The firm’s 50 day moving average price is $77.53 and its 200-day moving average price is $63.59. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 126.96 and a beta of 1.81. Medidata Solutions has a 1-year low of $46.10 and a 1-year high of $85.92.
Medidata Solutions (NASDAQ:MDSO) last posted its quarterly earnings results on Tuesday, July 18th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. Medidata Solutions had a return on equity of 11.14% and a net margin of 7.07%. The business had revenue of $137.41 million for the quarter, compared to analysts’ expectations of $134.28 million. During the same quarter in the prior year, the business earned $0.24 EPS. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, analysts anticipate that Medidata Solutions will post $1.28 EPS for the current year.
In related news, COO Michael L. Capone sold 5,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $69.46, for a total value of $347,300.00. Following the transaction, the chief operating officer now owns 171,754 shares in the company, valued at $11,930,032.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael I. Otner sold 7,500 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $66.39, for a total value of $497,925.00. Following the completion of the transaction, the executive vice president now owns 78,419 shares in the company, valued at approximately $5,206,237.41. The disclosure for this sale can be found here. Insiders have sold a total of 18,139 shares of company stock worth $1,259,466 in the last quarter. Company insiders own 5.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Insight Capital Research & Management Inc. bought a new position in shares of Medidata Solutions during the second quarter worth approximately $984,000. Conestoga Capital Advisors LLC boosted its position in shares of Medidata Solutions by 6.0% in the second quarter. Conestoga Capital Advisors LLC now owns 650,941 shares of the company’s stock worth $50,904,000 after buying an additional 36,910 shares during the last quarter. State Treasurer State of Michigan bought a new position in shares of Medidata Solutions during the second quarter worth approximately $1,783,000. Aperio Group LLC boosted its position in shares of Medidata Solutions by 13.4% in the second quarter. Aperio Group LLC now owns 12,595 shares of the company’s stock worth $985,000 after buying an additional 1,489 shares during the last quarter. Finally, Rockefeller Financial Services Inc. boosted its position in shares of Medidata Solutions by 3.0% in the second quarter. Rockefeller Financial Services Inc. now owns 324,783 shares of the company’s stock worth $25,398,000 after buying an additional 9,345 shares during the last quarter.
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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