Zacks: Analysts Anticipate Medidata Solutions, Inc. (MDSO) Will Announce Quarterly Sales of $141.03 Million
Wall Street brokerages forecast that Medidata Solutions, Inc. (NASDAQ:MDSO) will post $141.03 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Medidata Solutions’ earnings, with estimates ranging from $140.40 million to $142.34 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 company is scheduled to announce its next earnings report before the market opens on Thursday, October 26th.
On average, 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 fiscal year, analysts anticipate that the firm will post sales of $652.97 million per share, with estimates ranging from $642.33 million to $669.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Medidata Solutions.
A number of research firms have recently commented on MDSO. Jefferies Group LLC reiterated a “hold” rating and set a $78.00 target price on shares of Medidata Solutions in a research note on Tuesday, August 22nd. Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price (up from $75.00) on shares of Medidata Solutions in a research note on Friday, July 21st. Royal Bank Of Canada began coverage on Medidata Solutions in a research note on Tuesday, September 19th. They set a “sector perform” rating and a $82.00 target price on the stock. Zacks Investment Research upgraded Medidata Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $94.00 target price (up from $77.00) on shares of Medidata Solutions in a research note on Monday, July 10th. Four investment 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 an average price target of $84.64.
Medidata Solutions (NASDAQ:MDSO) opened at 80.90 on Tuesday. Medidata Solutions has a 12-month low of $46.10 and a 12-month high of $85.92. The firm has a market capitalization of $4.58 billion, a P/E ratio of 130.69 and a beta of 1.77. The firm has a 50 day moving average of $77.72 and a 200 day moving average of $74.17.
In other news, COO Michael L. Capone sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $74.53, for a total transaction of $372,650.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.80% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors grew its holdings in shares of Medidata Solutions by 5.5% during the third quarter. Nationwide Fund Advisors now owns 779,542 shares of the company’s stock worth $60,851,000 after purchasing an additional 40,837 shares in the last quarter. LS Investment Advisors LLC grew its holdings in shares of Medidata Solutions by 27.2% during the third quarter. LS Investment Advisors LLC now owns 6,293 shares of the company’s stock worth $491,000 after purchasing an additional 1,346 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Medidata Solutions by 7.3% during the third quarter. Mutual of America Capital Management LLC now owns 48,257 shares of the company’s stock worth $3,767,000 after purchasing an additional 3,270 shares in the last quarter. Wasatch Advisors Inc. lifted its position in Medidata Solutions by 3.9% in the 2nd quarter. Wasatch Advisors Inc. now owns 28,546 shares of the company’s stock worth $2,232,000 after buying an additional 1,083 shares during the last quarter. Finally, 1st Global Advisors Inc. lifted its position in Medidata Solutions by 0.5% in the 2nd quarter. 1st Global Advisors Inc. now owns 8,243 shares of the company’s stock worth $645,000 after buying an additional 37 shares during the last quarter. 97.49% of the stock is owned by institutional investors.
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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