Medidata Solutions, Inc. (MDSO) Expected to Announce Quarterly Sales of $141.03 Million
Brokerages predict that Medidata Solutions, Inc. (NASDAQ:MDSO) will announce sales of $141.03 million for the current quarter, Zacks reports. Five analysts have issued estimates for Medidata Solutions’ earnings, with the highest sales estimate coming in at $142.34 million and the lowest estimate coming in at $140.40 million. Medidata Solutions posted sales of $120.06 million in the same quarter last year, which would indicate a positive year over year growth rate of 17.5%. The business is expected to report its next quarterly earnings results on Tuesday, October 24th.
On average, analysts expect that Medidata Solutions will report full year sales of $141.03 million for the current fiscal year, with estimates ranging from $550.10 million to $558.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $652.97 million per share, with estimates ranging from $642.33 million to $669.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Medidata Solutions.
Medidata Solutions (NASDAQ:MDSO) last released its earnings results on Tuesday, July 18th. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $137.41 million during the quarter, compared to analysts’ expectations of $134.28 million. During the same quarter last year, the business earned $0.24 EPS. The business’s revenue was up 19.9% on a year-over-year basis.
Several brokerages have recently issued reports on MDSO. Jefferies Group LLC reissued a “hold” rating and set a $78.00 price target on shares of Medidata Solutions in a report on Tuesday, August 22nd. Morgan Stanley set a $74.00 price target on shares of Medidata Solutions and gave the company a “buy” rating in a report on Wednesday, June 14th. Royal Bank Of Canada began coverage on shares of Medidata Solutions in a report on Tuesday, September 19th. They set a “sector perform” rating and a $82.00 price target for the company. Zacks Investment Research raised shares of Medidata Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $90.00 price target (up previously from $75.00) on shares of Medidata Solutions in a report on Friday, July 21st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $84.64.
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Medidata Solutions (MDSO) traded up 0.43% during mid-day trading on Friday, hitting $80.22. 19,203 shares of the stock traded hands. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 129.60 and a beta of 1.77. The stock has a 50-day moving average of $75.28 and a 200 day moving average of $71.94. Medidata Solutions has a 1-year low of $46.10 and a 1-year high of $85.92.
In related news, COO Michael L. Capone sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $74.53, for a total value of $372,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. lifted its holdings in Medidata Solutions by 0.3% in the second quarter. Alps Advisors Inc. now owns 8,430 shares of the company’s stock worth $659,000 after purchasing an additional 22 shares during the period. 1st Global Advisors Inc. lifted its holdings in Medidata Solutions by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 8,243 shares of the company’s stock worth $645,000 after purchasing an additional 37 shares during the period. World Asset Management Inc lifted its holdings in Medidata Solutions by 1.2% in the second quarter. World Asset Management Inc now owns 3,528 shares of the company’s stock worth $276,000 after purchasing an additional 43 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in Medidata Solutions by 0.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 33,828 shares of the company’s stock worth $2,645,000 after purchasing an additional 109 shares during the period. Finally, Pinebridge Investments L.P. lifted its holdings in Medidata Solutions by 2.1% in the second quarter. Pinebridge Investments L.P. now owns 7,305 shares of the company’s stock worth $572,000 after purchasing an additional 153 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.
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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