Medidata Solutions (NASDAQ:MDSO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $70.00 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.04% from the company’s previous close.
According to Zacks, “Medidata Solutions is a leading global provider of hosted clinical development solutions that enhance the efficiency of customers’ clinical development processes and optimize their research and development investments. Medidata products and services allow customers to achieve clinical results more efficiently and effectively by streamlining the design, planning and management of key aspects of the clinical development process, including protocol development (Medidata Designer), investigator benchmarking and budgeting (Medidata Grants Manager), contract research organization (CRO) benchmarking and budgeting (Medidata CRO Contractor), and the capture, management, analysis and reporting of clinical trial data (Medidata Rave). Medidata’s diverse customer base spans pharmaceutical, biotechnology and medical device companies, academic institutions, CROs and other research organizations, and includes some top global pharmaceutical companies. “
A number of other research analysts have also weighed in on MDSO. Wells Fargo & Co reduced their price objective on shares of Medidata Solutions from $83.00 to $80.00 and set a “market perform” rating for the company in a research note on Friday, October 27th. SunTrust Banks reiterated a “buy” rating and issued a $92.00 price objective on shares of Medidata Solutions in a research note on Friday, October 27th. Royal Bank of Canada reiterated a “hold” rating and issued a $80.00 price objective on shares of Medidata Solutions in a research note on Friday, October 27th. Dougherty & Co started coverage on shares of Medidata Solutions in a research note on Thursday, November 2nd. They issued a “neutral” rating for the company. Finally, Deutsche Bank started coverage on shares of Medidata Solutions in a research note on Friday, December 8th. They issued a “buy” rating and a $78.00 price objective for the company. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $82.07.
Medidata Solutions (NASDAQ:MDSO) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.10. The company had revenue of $141.20 million for the quarter, compared to analysts’ expectations of $140.65 million. Medidata Solutions had a net margin of 8.14% and a return on equity of 11.59%. Medidata Solutions’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. analysts expect that Medidata Solutions will post 1 earnings per share for the current fiscal year.
In related news, Director Carlos Dominguez sold 9,066 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $66.85, for a total value of $606,062.10. Following the completion of the transaction, the director now directly owns 66,020 shares in the company, valued at $4,413,437. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Rouven Bergmann sold 3,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $70.00, for a total transaction of $210,000.00. Following the completion of the transaction, the chief financial officer now owns 84,775 shares of the company’s stock, valued at $5,934,250. The disclosure for this sale can be found here. Insiders have sold a total of 24,010 shares of company stock valued at $1,630,556 over the last 90 days. Company insiders own 5.80% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Summit Creek Advisors LLC purchased a new position in Medidata Solutions in the fourth quarter worth $5,137,000. AMP Capital Investors Ltd purchased a new position in Medidata Solutions in the third quarter worth $2,194,000. KAMES CAPITAL plc grew its position in Medidata Solutions by 54.6% in the fourth quarter. KAMES CAPITAL plc now owns 25,521 shares of the company’s stock worth $1,617,000 after acquiring an additional 9,012 shares in the last quarter. Zions Bancorporation purchased a new position in Medidata Solutions in the third quarter worth $256,000. Finally, Schwab Charles Investment Management Inc. grew its position in Medidata Solutions by 38.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 326,950 shares of the company’s stock worth $25,522,000 after acquiring an additional 90,572 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.
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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