Lord Abbett & CO. LLC cut its stake in shares of Medidata Solutions Inc (NASDAQ:MDSO) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 293,726 shares of the company’s stock after selling 41,992 shares during the period. Lord Abbett & CO. LLC owned approximately 0.48% of Medidata Solutions worth $19,803,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its position in shares of Medidata Solutions by 127.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 945 shares of the company’s stock worth $64,000 after purchasing an additional 529 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Medidata Solutions during the fourth quarter worth $90,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Medidata Solutions by 1,068.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 2,558 shares of the company’s stock worth $172,000 after purchasing an additional 2,339 shares during the period. Advisor Group Inc. raised its position in shares of Medidata Solutions by 27.1% during the fourth quarter. Advisor Group Inc. now owns 2,553 shares of the company’s stock worth $173,000 after purchasing an additional 545 shares during the period. Finally, Stephens Inc. AR raised its position in shares of Medidata Solutions by 8.7% during the fourth quarter. Stephens Inc. AR now owns 2,722 shares of the company’s stock worth $184,000 after purchasing an additional 218 shares during the period.
In related news, EVP Daniel Patrick Shannon sold 19,725 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $75.17, for a total transaction of $1,482,728.25. Following the completion of the transaction, the executive vice president now owns 70,497 shares of the company’s stock, valued at approximately $5,299,259.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rouven Bergmann sold 12,512 shares of the business’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $75.00, for a total value of $938,400.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,357 shares of company stock valued at $3,705,792. 4.70% of the stock is currently owned by corporate insiders.
Medidata Solutions (NASDAQ:MDSO) last released its quarterly earnings results on Tuesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.08. The company had revenue of $167.19 million during the quarter, compared to the consensus estimate of $168.08 million. Medidata Solutions had a return on equity of 10.03% and a net margin of 8.17%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 EPS. On average, equities research analysts anticipate that Medidata Solutions Inc will post 0.8 EPS for the current fiscal year.
A number of research analysts have recently weighed in on the company. Leerink Swann assumed coverage on Medidata Solutions in a report on Wednesday, January 2nd. They set a “market perform” rating and a $70.00 price target on the stock. Zacks Investment Research downgraded Medidata Solutions from a “buy” rating to a “hold” rating in a report on Monday, January 28th. Piper Jaffray Companies lowered their price target on Medidata Solutions to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 4th. JPMorgan Chase & Co. downgraded Medidata Solutions from a “neutral” rating to an “underweight” rating in a report on Thursday, December 13th. Finally, TheStreet downgraded Medidata Solutions from a “b” rating to a “c+” rating in a report on Thursday, December 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Medidata Solutions currently has an average rating of “Hold” and an average target price of $83.64.
Medidata Solutions Profile
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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