Medidata Solutions, Inc. (MDSO) Stock Rating Reaffirmed by Citigroup Inc.
Medidata Solutions, Inc. (NASDAQ:MDSO)‘s stock had its “buy” rating reaffirmed by Citigroup Inc. in a report released on Monday. They presently have a $95.00 target price on the stock, up from their previous target price of $94.00. Citigroup Inc.’s price objective would suggest a potential upside of 23.73% from the company’s current price.
Several other research firms have also recently commented on MDSO. Morgan Stanley set a $74.00 target price on Medidata Solutions and gave the company a “buy” rating in a research report on Wednesday, June 14th. Needham & Company LLC raised their target price on Medidata Solutions from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, April 27th. Jefferies Group LLC upgraded Medidata Solutions from an “underperform” rating to a “hold” rating and lowered their target price for the company from $47.00 to $46.00 in a research report on Monday, May 1st. BidaskClub cut Medidata Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, Bank of America Corporation assumed coverage on Medidata Solutions in a research report on Tuesday, June 6th. They issued a “buy” rating and a $85.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $78.17.
Medidata Solutions (MDSO) traded up 2.67% on Monday, hitting $76.78. The stock had a trading volume of 447,867 shares. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 124.04 and a beta of 1.80. The company’s 50 day moving average price is $77.53 and its 200-day moving average price is $63.59. Medidata Solutions has a 12-month low of $46.10 and a 12-month high of $85.92.
Medidata Solutions (NASDAQ:MDSO) last announced its quarterly earnings results on Tuesday, July 18th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. The business had revenue of $137.41 million for the quarter, compared to analysts’ expectations of $134.28 million. Medidata Solutions had a return on equity of 11.14% and a net margin of 7.07%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. Equities research analysts anticipate that Medidata Solutions will post $1.28 EPS for the current year.
In other news, EVP Michael I. Otner sold 7,500 shares of Medidata Solutions stock in a transaction on Monday, May 1st. The stock was sold at an average price of $66.39, for a total transaction of $497,925.00. Following the transaction, the executive vice president now directly owns 78,419 shares in the company, valued at approximately $5,206,237.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Michael L. Capone sold 5,000 shares of Medidata Solutions stock in a transaction on Monday, May 15th. The shares were 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,139 shares of company stock worth $1,259,466. 5.80% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Brown Capital Management LLC boosted its position in shares of Medidata Solutions by 0.6% in the first quarter. Brown Capital Management LLC now owns 5,921,818 shares of the company’s stock valued at $341,630,000 after buying an additional 33,042 shares during the period. Vanguard Group Inc. boosted its position in shares of Medidata Solutions by 5.1% in the first quarter. Vanguard Group Inc. now owns 4,874,974 shares of the company’s stock valued at $281,237,000 after buying an additional 235,190 shares during the period. Clearbridge Investments LLC boosted its position in shares of Medidata Solutions by 61.4% in the first quarter. Clearbridge Investments LLC now owns 2,449,038 shares of the company’s stock valued at $141,285,000 after buying an additional 931,729 shares during the period. Champlain Investment Partners LLC boosted its position in shares of Medidata Solutions by 11.5% in the first quarter. Champlain Investment Partners LLC now owns 1,653,230 shares of the company’s stock valued at $95,375,000 after buying an additional 169,870 shares during the period. Finally, State Street Corp boosted its position in shares of Medidata Solutions by 17.1% in the first quarter. State Street Corp now owns 1,432,120 shares of the company’s stock valued at $82,615,000 after buying an additional 209,074 shares during the period.
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 Company’s plan study addresses three areas to ensure optimal study design, grant development and negotiation, and investigator payments.
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