Zacks: Analysts Anticipate Medidata Solutions, Inc. (MDSO) Will Announce Quarterly Sales of $141.03 Million
Wall Street analysts forecast that Medidata Solutions, Inc. (NASDAQ:MDSO) will post $141.03 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Medidata Solutions’ earnings, with the lowest sales estimate coming in at $140.40 million and the highest estimate coming in at $142.34 million. Medidata Solutions reported sales of $120.06 million in the same quarter last year, which would suggest a positive year over year growth rate of 17.5%. The business is expected to report its next earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Medidata Solutions will report full-year sales of $141.03 million for the current financial year, with estimates ranging from $550.10 million to $558.00 million. For the next financial year, analysts expect that the business will post sales of $652.31 million per share, with estimates ranging from $642.33 million to $669.00 million. Zacks’ sales averages are an average based on a survey of analysts that follow Medidata Solutions.
Medidata Solutions (NASDAQ:MDSO) last released its quarterly earnings data on Tuesday, July 18th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.28 by $0.03. Medidata Solutions had a net margin of 7.07% and a return on equity of 11.14%. The business had revenue of $137.41 million for the quarter, compared to analyst estimates of $134.28 million. During the same period in the previous year, the firm earned $0.24 EPS. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year.
A number of equities research analysts recently commented on MDSO shares. Bank of America Corporation started coverage on Medidata Solutions in a report on Tuesday, June 6th. They issued a “buy” rating and a $85.00 price objective for the company. Zacks Investment Research downgraded Medidata Solutions from a “hold” rating to a “sell” rating in a report on Friday, July 21st. BidaskClub upgraded Medidata Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. J P Morgan Chase & Co upped their price objective on Medidata Solutions to $87.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th. Finally, Jefferies Group LLC upgraded Medidata Solutions from an “underperform” rating to a “hold” rating and dropped their price objective for the company from $47.00 to $46.00 in a report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $80.83.
In other Medidata Solutions news, COO Michael L. Capone sold 5,000 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $74.53, for a total value of $372,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Taylor sold 5,639 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $73.46, for a total value of $414,240.94. Following the completion of the sale, the director now owns 54,372 shares of the company’s stock, valued at $3,994,167.12. The disclosure for this sale can be found here. 5.80% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Teachers Advisors LLC increased its stake in shares of Medidata Solutions by 7.0% in the fourth quarter. Teachers Advisors LLC now owns 104,948 shares of the company’s stock valued at $5,213,000 after buying an additional 6,820 shares during the period. State of Alaska Department of Revenue increased its position 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. Strs Ohio increased its position in Medidata Solutions by 0.6% in the first quarter. Strs Ohio now owns 156,397 shares of the company’s stock worth $9,022,000 after buying an additional 900 shares during the last quarter. BB&T Corp increased its position in Medidata Solutions by 7.7% in the first quarter. BB&T Corp now owns 5,775 shares of the company’s stock worth $333,000 after buying an additional 415 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Medidata Solutions during the first quarter worth about $2,261,000. Institutional investors own 97.53% of the company’s stock.
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Shares of Medidata Solutions (NASDAQ:MDSO) opened at 72.53 on Tuesday. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 117.17 and a beta of 1.79. Medidata Solutions has a 52-week low of $46.10 and a 52-week high of $85.92. The company has a 50 day moving average of $76.52 and a 200 day moving average of $67.96.
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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