State Treasurer State of Michigan reduced its stake in Medidata Solutions, Inc. (NASDAQ:MDSO) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,000 shares of the company’s stock after selling 800 shares during the period. State Treasurer State of Michigan’s holdings in Medidata Solutions were worth $1,717,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in MDSO. State Street Corp grew its stake in shares of Medidata Solutions by 27.7% in the second quarter. State Street Corp now owns 1,828,913 shares of the company’s stock valued at $143,022,000 after acquiring an additional 396,793 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Medidata Solutions by 1,571.0% in the second quarter. Voya Investment Management LLC now owns 376,259 shares of the company’s stock valued at $29,423,000 after acquiring an additional 353,742 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of Medidata Solutions by 254.0% in the first quarter. Teachers Advisors LLC now owns 371,554 shares of the company’s stock valued at $21,435,000 after acquiring an additional 266,606 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Medidata Solutions by 5.1% in the first quarter. Vanguard Group Inc. now owns 4,874,974 shares of the company’s stock valued at $281,237,000 after acquiring an additional 235,190 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Medidata Solutions by 32.5% in the second quarter. Northern Trust Corp now owns 932,450 shares of the company’s stock valued at $72,918,000 after acquiring an additional 228,915 shares in the last quarter. Hedge funds and other institutional investors own 98.49% of the company’s stock.
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In other news, COO Michael L. Capone sold 5,000 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.80% of the company’s stock.
MDSO has been the topic of several research reports. Zacks Investment Research downgraded shares of Medidata Solutions from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. J P Morgan Chase & Co upped their price target on shares of Medidata Solutions to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, July 18th. Citigroup Inc. restated a “buy” rating and issued a $95.00 price target (up from $94.00) on shares of Medidata Solutions in a research note on Monday, July 24th. Morgan Stanley upped their price target on shares of Medidata Solutions from $74.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, July 20th. Finally, KeyCorp restated a “buy” rating and issued a $86.00 price target on shares of Medidata Solutions in a research note on Sunday, September 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $84.25.
Shares of Medidata Solutions, Inc. (MDSO) opened at $71.78 on Friday. The company has a market capitalization of $4,198.63, a PE ratio of 86.48, a PEG ratio of 4.32 and a beta of 1.78. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.37 and a current ratio of 1.29.
Medidata Solutions (NASDAQ:MDSO) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $140.08 million for the quarter, compared to the consensus estimate of $141.27 million. Medidata Solutions had a net margin of 7.84% and a return on equity of 11.54%. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share. equities research analysts expect that Medidata Solutions, Inc. will post 0.77 EPS for the current fiscal year.
Medidata Solutions 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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