Medidata Solutions, Inc. (NASDAQ:MDSO) Receives Buy Rating from Citigroup Inc.

Medidata Solutions, Inc. (NASDAQ:MDSO)‘s stock had its “buy” rating reissued by research analysts at Citigroup Inc. in a research note issued to investors on Monday, July 24th. They presently have a $95.00 price objective on the stock, up from their previous price objective of $94.00. Citigroup Inc.’s price target indicates a potential upside of 31.32% from the stock’s current price.

Several other analysts have also recently issued reports on MDSO. Piper Jaffray Companies upped their price objective on shares of Medidata Solutions from $60.00 to $72.00 and gave the stock an “overweight” rating in a report on Tuesday, April 11th. Zacks Investment Research lowered shares of Medidata Solutions from a “buy” rating to a “hold” rating in a report on Thursday, April 13th. Needham & Company LLC restated a “buy” rating and issued a $65.00 price objective on shares of Medidata Solutions in a report on Wednesday, April 19th. Jefferies Group LLC upgraded shares of Medidata Solutions from an “underperform” rating to a “hold” rating and set a $46.00 price objective on the stock in a report on Friday, April 28th. Finally, Morgan Stanley upped their price objective on shares of Medidata Solutions from $63.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, April 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $78.17.

Shares of Medidata Solutions (NASDAQ MDSO) opened at 72.34 on Monday. The firm has a 50-day moving average price of $77.26 and a 200-day moving average price of $67.12. The stock has a market capitalization of $4.10 billion, a P/E ratio of 116.87 and a beta of 1.79. Medidata Solutions has a 52-week low of $46.10 and a 52-week high of $85.92.

Medidata Solutions (NASDAQ:MDSO) last released its quarterly earnings results on Tuesday, July 18th. The company reported $0.31 earnings per share for the quarter, topping the 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 firm had revenue of $137.41 million during the quarter, compared to the consensus estimate of $134.28 million. During the same quarter in the prior year, the firm earned $0.24 EPS. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, analysts predict that Medidata Solutions will post $1.28 EPS for the current year.

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In other news, COO Michael L. Capone sold 5,000 shares of Medidata Solutions 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert Taylor sold 5,639 shares of Medidata Solutions stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $73.46, for a total transaction of $414,240.94. Following the completion of the sale, the director now directly owns 54,372 shares in the company, valued at approximately $3,994,167.12. The disclosure for this sale can be found here. Company insiders own 5.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. boosted its stake in shares of Medidata Solutions by 0.3% in the second quarter. Alps Advisors Inc. now owns 8,430 shares of the company’s stock valued at $659,000 after buying an additional 22 shares during the period. 1st Global Advisors Inc. boosted its stake in shares of Medidata Solutions by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 8,243 shares of the company’s stock valued at $645,000 after buying an additional 37 shares during the period. World Asset Management Inc boosted its stake in shares of Medidata Solutions by 1.2% in the second quarter. World Asset Management Inc now owns 3,528 shares of the company’s stock valued at $276,000 after buying an additional 43 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of 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 valued at $2,645,000 after buying an additional 109 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of Medidata Solutions by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 6,080 shares of the company’s stock valued at $350,000 after buying an additional 130 shares during the period.

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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