BlackRock Inc. lowered its stake in shares of Medidata Solutions Inc (NASDAQ:MDSO) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,799,838 shares of the company’s stock after selling 372,355 shares during the period. BlackRock Inc. owned approximately 11.11% of Medidata Solutions worth $498,496,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund raised its stake in Medidata Solutions by 3.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 22,786 shares of the company’s stock worth $1,836,000 after purchasing an additional 666 shares during the period. Polen Capital Management LLC raised its stake in Medidata Solutions by 12.2% during the second quarter. Polen Capital Management LLC now owns 7,413 shares of the company’s stock worth $597,000 after purchasing an additional 806 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in Medidata Solutions by 3.0% during the second quarter. Metropolitan Life Insurance Co. NY now owns 34,464 shares of the company’s stock worth $2,776,000 after purchasing an additional 993 shares during the period. Arizona State Retirement System raised its stake in Medidata Solutions by 2.6% during the second quarter. Arizona State Retirement System now owns 41,117 shares of the company’s stock worth $3,312,000 after purchasing an additional 1,038 shares during the period. Finally, Swiss National Bank raised its stake in Medidata Solutions by 1.4% during the third quarter. Swiss National Bank now owns 103,300 shares of the company’s stock worth $7,573,000 after purchasing an additional 1,400 shares during the period.
A number of equities analysts have weighed in on MDSO shares. Piper Jaffray Companies cut their price target on shares of Medidata Solutions from $96.00 to $93.00 in a research note on Thursday, October 18th. ValuEngine downgraded shares of Medidata Solutions from a “buy” rating to a “hold” rating in a research note on Monday, September 17th. BidaskClub raised shares of Medidata Solutions from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 16th. Zacks Investment Research downgraded shares of Medidata Solutions from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Finally, JPMorgan Chase & Co. cut their target price on shares of Medidata Solutions to $74.00 and set a “neutral” rating on the stock in a research note on Friday, October 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $85.10.
In related news, CFO Rouven Bergmann sold 10,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $79.00, for a total transaction of $790,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael I. Otner sold 7,030 shares of the firm’s stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $69.40, for a total transaction of $487,882.00. Following the sale, the executive vice president now directly owns 62,548 shares of the company’s stock, valued at $4,340,831.20. The disclosure for this sale can be found here. In the last three months, insiders sold 34,030 shares of company stock worth $2,539,022. Insiders own 4.70% of the company’s stock.
Shares of MDSO stock opened at $72.67 on Friday. Medidata Solutions Inc has a 52 week low of $59.60 and a 52 week high of $88.87. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $4.62 billion, a PE ratio of 85.49, a price-to-earnings-growth ratio of 4.47 and a beta of 1.30.
Medidata Solutions (NASDAQ:MDSO) last issued its earnings results on Thursday, October 18th. The company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.06. Medidata Solutions had a net margin of 8.43% and a return on equity of 10.70%. The business had revenue of $163.41 million for the quarter, compared to the consensus estimate of $162.09 million. During the same quarter last year, the firm posted $0.33 EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, equities analysts expect that Medidata Solutions Inc will post 0.85 earnings per share for the current year.
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About Medidata Solutions
Medidata Solutions, Inc provides cloud-based solutions for life sciences worldwide. It offers the Medidata Clinical Cloud, a platform, pioneering analytics, and clinical technology for the development of new therapies. The company's platform solutions include data capture and management and trial planning and management.
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