Medidata Solutions (NASDAQ:MDSO) was upgraded by investment analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a research report issued on Friday, December 1st, MarketBeat reports. The firm presently has a $80.00 price objective on the stock. Wells Fargo & Co’s price objective indicates a potential upside of 26.24% from the company’s previous close.
Several other equities analysts have also weighed in on MDSO. Jefferies Group reissued a “hold” rating and issued a $78.00 price objective on shares of Medidata Solutions in a research report on Tuesday, August 22nd. Royal Bank of Canada started coverage on shares of Medidata Solutions in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $82.00 price target on the stock. Dougherty & Co started coverage on shares of Medidata Solutions in a research report on Thursday, November 2nd. They set a “neutral” rating on the stock. Zacks Investment Research raised shares of Medidata Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. Finally, KeyCorp reaffirmed a “buy” rating and set a $86.00 price target on shares of Medidata Solutions in a research report on Sunday, September 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. Medidata Solutions has an average rating of “Buy” and a consensus price target of $84.54.
Shares of Medidata Solutions (NASDAQ MDSO) traded down $1.66 on Friday, hitting $63.37. 539,800 shares of the stock traded hands, compared to its average volume of 394,226. The company has a market capitalization of $3,801.72, a price-to-earnings ratio of 90.53, a PEG ratio of 4.04 and a beta of 1.69. Medidata Solutions has a 52 week low of $47.77 and a 52 week high of $85.92. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.29 and a quick ratio of 3.37.
Medidata Solutions (NASDAQ:MDSO) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The company had revenue of $140.08 million for the quarter, compared to analyst estimates of $141.27 million. Medidata Solutions had a net margin of 7.84% and a return on equity of 11.54%. The company’s revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. sell-side analysts expect that Medidata Solutions will post 0.78 EPS for the current year.
In other Medidata Solutions news, CFO Rouven Bergmann sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $65.95, for a total value of $131,900.00. Following the transaction, the chief financial officer now directly owns 89,775 shares of the company’s stock, valued at approximately $5,920,661.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Taylor sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $71.39, for a total transaction of $356,950.00. Following the completion of the transaction, the director now directly owns 49,372 shares in the company, valued at $3,524,667.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 239,010 shares of company stock worth $16,437,036. 5.80% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System increased its holdings in Medidata Solutions by 1.2% in the 3rd quarter. California Public Employees Retirement System now owns 104,076 shares of the company’s stock valued at $8,124,000 after buying an additional 1,276 shares during the period. Zions Bancorporation bought a new position in Medidata Solutions in the 3rd quarter valued at about $256,000. Jane Street Group LLC increased its holdings in Medidata Solutions by 112.8% in the 3rd quarter. Jane Street Group LLC now owns 9,505 shares of the company’s stock valued at $742,000 after buying an additional 5,038 shares during the period. AMP Capital Investors Ltd acquired a new stake in shares of Medidata Solutions in the 3rd quarter valued at approximately $2,194,000. Finally, Polen Capital Management LLC acquired a new stake in shares of Medidata Solutions in the 3rd quarter valued at approximately $205,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.
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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.