Medidata Solutions (MDSO) Lifted to “Outperform” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Medidata Solutions (NASDAQ:MDSO) from a market perform rating to an outperform rating in a research note issued to investors on Friday, MarketBeat reports. Wells Fargo & Company currently has $80.00 price objective on the stock.

MDSO has been the subject of several other research reports. Royal Bank Of Canada reiterated a hold rating and issued a $80.00 price objective on shares of Medidata Solutions in a research report on Friday, October 27th. KeyCorp reiterated a buy rating and issued a $86.00 price objective on shares of Medidata Solutions in a research report on Sunday, September 17th. Zacks Investment Research downgraded Medidata Solutions from a hold rating to a sell rating in a research report on Thursday, November 2nd. Jefferies Group reiterated a hold rating and issued a $78.00 price objective on shares of Medidata Solutions in a research report on Tuesday, August 22nd. Finally, Dougherty & Co upgraded Medidata Solutions from a neutral rating to a buy rating and set a $75.00 price objective for the company in a research report on Monday, November 13th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $83.54.

Medidata Solutions (NASDAQ MDSO) opened at $67.35 on Friday. The company has a current ratio of 1.29, a quick ratio of 3.37 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $3,937.35, a P/E ratio of 81.14, a P/E/G ratio of 4.19 and a beta of 1.69. Medidata Solutions has a 52-week low of $47.77 and a 52-week high of $85.92.

Medidata Solutions (NASDAQ:MDSO) last posted its earnings results on Thursday, October 26th. The company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The business had revenue of $140.08 million during the quarter, compared to the consensus estimate of $141.27 million. Medidata Solutions had a return on equity of 11.54% and a net margin of 7.84%. Medidata Solutions’s revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS. analysts forecast that Medidata Solutions will post 0.77 earnings per share for the current fiscal year.

In other news, CEO Tarek Sherif sold 200,000 shares of Medidata Solutions stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $68.76, for a total value of $13,752,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael I. Otner sold 10,000 shares of Medidata Solutions stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $70.88, for a total value of $708,800.00. Following the completion of the sale, the executive vice president now directly owns 80,674 shares of the company’s stock, valued at $5,718,173.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,944 shares of company stock valued at $15,568,274. Corporate insiders own 5.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDSO. Canada Pension Plan Investment Board increased its stake in shares of Medidata Solutions by 2,994.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,151,200 shares of the company’s stock valued at $89,863,000 after buying an additional 1,114,000 shares during the period. American Century Companies Inc. increased its stake in shares of Medidata Solutions by 610.9% in the 3rd quarter. American Century Companies Inc. now owns 1,186,843 shares of the company’s stock valued at $92,645,000 after buying an additional 1,019,883 shares during the period. Eagle Asset Management Inc. increased its stake in shares of Medidata Solutions by 292.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 835,286 shares of the company’s stock valued at $66,371,000 after buying an additional 622,694 shares during the period. State Street Corp increased its stake in shares of Medidata Solutions by 27.7% in the 2nd quarter. State Street Corp now owns 1,828,913 shares of the company’s stock valued at $143,022,000 after buying an additional 396,793 shares during the period. Finally, Voya Investment Management LLC increased its stake in shares of Medidata Solutions by 1,571.0% in the 2nd quarter. Voya Investment Management LLC now owns 376,259 shares of the company’s stock valued at $29,423,000 after buying an additional 353,742 shares during the period. 97.52% of the stock is owned by 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.

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