State Board of Administration of Florida Retirement System increased its stake in Medidata Solutions Inc (NASDAQ:MDSO) by 54.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,678 shares of the company’s stock after buying an additional 26,829 shares during the period. State Board of Administration of Florida Retirement System owned 0.12% of Medidata Solutions worth $6,850,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC grew its stake in shares of Medidata Solutions by 126.8% in the 1st quarter. Quadrant Capital Group LLC now owns 592 shares of the company’s stock worth $40,000 after buying an additional 331 shares during the last quarter. Flagship Harbor Advisors LLC grew its stake in shares of Medidata Solutions by 58.3% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 475 shares of the company’s stock worth $42,000 after buying an additional 175 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Medidata Solutions in the 2nd quarter worth approximately $185,000. World Asset Management Inc purchased a new stake in shares of Medidata Solutions in the 1st quarter worth approximately $210,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Medidata Solutions in the 2nd quarter worth approximately $213,000. Institutional investors own 91.15% of the company’s stock.
Medidata Solutions stock traded up $0.01 during trading on Wednesday, reaching $91.55. The company had a trading volume of 2,445 shares, compared to its average volume of 830,915. Medidata Solutions Inc has a 52 week low of $60.10 and a 52 week high of $98.60. The firm’s 50-day simple moving average is $91.23 and its 200 day simple moving average is $85.36. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 95.40, a price-to-earnings-growth ratio of 6.17 and a beta of 1.23. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 0.27.
Several analysts recently weighed in on MDSO shares. SunTrust Banks upped their price target on Medidata Solutions from $85.00 to $92.25 and gave the stock a “hold” rating in a research note on Thursday, June 13th. Dougherty & Co downgraded Medidata Solutions from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 1st. Wells Fargo & Co reissued a “hold” rating on shares of Medidata Solutions in a report on Thursday, June 13th. William Blair cut Medidata Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. raised Medidata Solutions from an “underweight” rating to a “neutral” rating in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $84.27.
In other Medidata Solutions news, Director Robert Taylor sold 3,294 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $90.88, for a total transaction of $299,358.72. Following the sale, the director now directly owns 41,757 shares of the company’s stock, valued at $3,794,876.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.70% of the stock is owned by company insiders.
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 and commercialization of new therapies. The company's platform solutions include data capture and management, and trial planning and management.
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