Peregrine Capital Management LLC cut its stake in Medidata Solutions, Inc. (NASDAQ:MDSO) by 19.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 291,465 shares of the company’s stock after selling 69,085 shares during the period. Peregrine Capital Management LLC owned about 0.52% of Medidata Solutions worth $22,793,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in MDSO. Acrospire Investment Management LLC acquired a new stake in shares of Medidata Solutions during the first quarter valued at about $121,000. LS Investment Advisors LLC boosted its stake in shares of Medidata Solutions by 44.6% in the first quarter. LS Investment Advisors LLC now owns 3,310 shares of the company’s stock valued at $191,000 after buying an additional 1,021 shares in the last quarter. World Asset Management Inc acquired a new stake in shares of Medidata Solutions during the first quarter valued at about $201,000. Miles Capital Inc. acquired a new stake in shares of Medidata Solutions during the first quarter valued at about $202,000. Finally, Oppenheimer & Close LLC acquired a new stake in shares of Medidata Solutions during the first quarter valued at about $210,000.
Shares of Medidata Solutions, Inc. (MDSO) traded down 1.35% during trading on Tuesday, reaching $73.64. 481,285 shares of the company traded hands. The stock has a market capitalization of $4.17 billion, a PE ratio of 118.97 and a beta of 1.79. Medidata Solutions, Inc. has a 52 week low of $46.10 and a 52 week high of $85.92. The firm has a 50 day moving average of $77.65 and a 200 day moving average of $66.86.
Medidata Solutions (NASDAQ:MDSO) last issued its earnings results on Tuesday, July 18th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Medidata Solutions had a net margin of 7.07% and a return on equity of 11.14%. The company had revenue of $137.41 million for the quarter, compared to the consensus estimate of $134.28 million. During the same period in the previous year, the firm earned $0.24 earnings per share. Medidata Solutions’s quarterly revenue was up 19.9% compared to the same quarter last year. On average, equities analysts predict that Medidata Solutions, Inc. will post $1.28 EPS for the current year.
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Several analysts have recently issued reports on MDSO shares. Bank of America Corporation started coverage on shares of Medidata Solutions in a research report on Tuesday, June 6th. They set a “buy” rating and a $85.00 target price on the stock. Zacks Investment Research cut shares of Medidata Solutions from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. BidaskClub upgraded shares of Medidata Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Jefferies Group LLC upgraded shares of Medidata Solutions from an “underperform” rating to a “hold” rating and decreased their target price for the company from $47.00 to $46.00 in a research report on Monday, May 1st. Finally, J P Morgan Chase & Co upped their target price on shares of Medidata Solutions to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $78.17.
In other Medidata Solutions news, Director Robert Taylor sold 5,639 shares of Medidata Solutions stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $73.46, for a total transaction of $414,240.94. Following the transaction, the director now directly owns 54,372 shares of the company’s stock, valued at $3,994,167.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.80% of the stock is owned by insiders.
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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