Trading Report: The Teacher Retirement System of Texas Boosts Stake in Medidata Solutions Inc. (MDSO)

The Teacher Retirement System of Texas Boosts Stake in Medidata Solutions Inc. (MDSO)

Teacher Retirement System of Texas boosted its position in Medidata Solutions Inc. (NASDAQ:MDSO) by 13.7% during the second quarter, Holdings Channel reports. The institutional investor owned 7,747 shares of the company’s stock after buying an additional 934 shares during the period. Teacher Retirement System of Texas’ holdings in Medidata Solutions were worth $363,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. State Street Corp boosted its stake in shares of Medidata Solutions by 3.7% in the first quarter. State Street Corp now owns 1,154,085 shares of the company’s stock worth $44,675,000 after buying an additional 40,827 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Medidata Solutions by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,359,364 shares of the company’s stock worth $52,621,000 after buying an additional 13,786 shares during the last quarter. Teachers Advisors Inc. raised its position in Medidata Solutions by 0.9% in the first quarter. Teachers Advisors Inc. now owns 91,369 shares of the company’s stock worth $3,537,000 after buying an additional 778 shares during the last quarter. BlackRock Group LTD raised its position in Medidata Solutions by 9.0% in the first quarter. BlackRock Group LTD now owns 71,429 shares of the company’s stock worth $2,765,000 after buying an additional 5,907 shares during the last quarter. Finally, Granahan Investment Management Inc. MA raised its position in Medidata Solutions by 83.3% in the first quarter. Granahan Investment Management Inc. MA now owns 231,344 shares of the company’s stock worth $8,955,000 after buying an additional 105,100 shares during the last quarter.

Medidata Solutions Inc. (NASDAQ:MDSO) traded down 0.93% during midday trading on Wednesday, reaching $54.18. The company’s stock had a trading volume of 27,270 shares. The firm has a market capitalization of $3.01 billion, a P/E ratio of 139.28 and a beta of 1.29. The company’s 50-day moving average is $55.09 and its 200 day moving average is $48.34. Medidata Solutions Inc. has a 52 week low of $30.22 and a 52 week high of $57.21.

Medidata Solutions (NASDAQ:MDSO) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.01. Medidata Solutions had a net margin of 5.29% and a return on equity of 10.32%. The business earned $114.60 million during the quarter, compared to analysts’ expectations of $112.39 million. During the same period last year, the company posted $0.22 EPS. The company’s revenue was up 16.8% on a year-over-year basis. Analysts expect that Medidata Solutions Inc. will post $1.01 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on MDSO shares. Morgan Stanley reiterated a “buy” rating and set a $61.00 price objective on shares of Medidata Solutions in a research note on Thursday, August 25th. TheStreet upgraded Medidata Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, August 25th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective (up previously from $55.00) on shares of Medidata Solutions in a research note on Sunday, July 24th. Zacks Investment Research lowered Medidata Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, KeyCorp reiterated a “buy” rating on shares of Medidata Solutions in a research note on Thursday, July 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. Medidata Solutions presently has an average rating of “Buy” and a consensus target price of $54.09.

In other news, Vice Chairman Steven Isaac Hirschfeld sold 20,825 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $52.89, for a total transaction of $1,101,434.25. Following the completion of the transaction, the insider now directly owns 111,225 shares of the company’s stock, valued at approximately $5,882,690.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Tarek Sherif sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $52.97, for a total transaction of $397,275.00. Following the transaction, the chief executive officer now directly owns 870,080 shares of the company’s stock, valued at $46,088,137.60. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.

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 Medidata Clinical Cloud provides a platform of technology and data analytics solutions designed to manage activities across clinical development.

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