Medidata Solutions (NASDAQ:MDSO) Shares Gap Down to $94.75

Medidata Solutions Inc (NASDAQ:MDSO) gapped down before the market opened on Wednesday . The stock had previously closed at $98.55, but opened at $94.75. Medidata Solutions shares last traded at $91.37, with a volume of 10111054 shares traded.

MDSO has been the subject of several recent research reports. Zacks Investment Research upgraded Medidata Solutions from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a report on Tuesday, February 12th. TheStreet upgraded Medidata Solutions from a “c+” rating to a “b-” rating in a report on Friday, March 15th. BidaskClub upgraded Medidata Solutions from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 20th. William Blair initiated coverage on Medidata Solutions in a report on Monday, April 15th. They set an “outperform” rating and a $74.93 price target for the company. Finally, Guggenheim initiated coverage on Medidata Solutions in a report on Wednesday, April 17th. They set a “buy” rating and a $92.00 price target for the company. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Medidata Solutions presently has a consensus rating of “Hold” and a consensus price target of $84.24.

The company has a market cap of $5.90 billion, a PE ratio of 95.18, a price-to-earnings-growth ratio of 8.43 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.57 and a quick ratio of 2.57.

Medidata Solutions (NASDAQ:MDSO) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.33. The firm had revenue of $173.50 million during the quarter, compared to the consensus estimate of $172.12 million. Medidata Solutions had a return on equity of 9.28% and a net margin of 7.99%. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. As a group, equities analysts forecast that Medidata Solutions Inc will post 0.79 earnings per share for the current year.

In other Medidata Solutions news, Director Robert Taylor sold 3,294 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $90.88, for a total value of $299,358.72. Following the completion of the transaction, the director now owns 41,757 shares in the company, valued at approximately $3,794,876.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.70% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Medidata Solutions during the 4th quarter valued at $46,802,000. Nikko Asset Management Americas Inc. lifted its position in shares of Medidata Solutions by 50.3% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,078,390 shares of the company’s stock valued at $72,705,000 after buying an additional 361,023 shares during the last quarter. BlackRock Inc. lifted its position in shares of Medidata Solutions by 4.3% during the 1st quarter. BlackRock Inc. now owns 7,293,413 shares of the company’s stock valued at $534,167,000 after buying an additional 297,812 shares during the last quarter. ARK Investment Management LLC lifted its position in shares of Medidata Solutions by 19.4% during the 1st quarter. ARK Investment Management LLC now owns 1,117,845 shares of the company’s stock valued at $81,871,000 after buying an additional 181,286 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Medidata Solutions by 16.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,250,464 shares of the company’s stock valued at $91,584,000 after buying an additional 172,074 shares during the last quarter.

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Medidata Solutions Company Profile (NASDAQ:MDSO)

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 and commercialization of new therapies. The company's platform solutions include data capture and management, and trial planning and management.

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