Frank Sands (Trades, Portfolio), Jr. of Sands Capital Management recently reported an increase in his holdings of Medidata Solutions, Inc. (MDSO, Financial). Sands is the Chief Executive Officer and Chief Investment Officer of Sands Capital Management. Frank Sands (Trades, Portfolio), Jr. is the son of company founder Frank Sands (Trades, Portfolio), Sr. who started Sands Capital Management in 1992. The firm’s investments focus on quality businesses with an emphasis on growth.
Sands has been steadily adding to his holdings of Medidata Solutions, Inc. since the second quarter of 2014 when he first bought the portfolio holding at $41.52. In 2015 Sands has added to his holdings of Medidata twice. In the first quarter of 2015 Sands added 273,700 shares, increasing the portfolio stake by 5.34%. Most recently, Sands added 176,800 shares, increasing his holding in the stock by 3.27% and bringing the total portfolio position to 0.72%.
Medidata is a technology industry company and Sands currently holds 29.83% of his portfolio in the industry overall. Medidata specializes in software and computer services for clinical development in the healthcare industry. It provides a cloud-based software-as-a-service platform for clinical healthcare data. Its service has extensive capabilities, offering a broad range of solutions for healthcare companies seeking to capture data for a wide range of needs including patient data, clinical studies and medical device marketing analysis.
Since Sands first bought the stock in the second quarter of 2014, it has increased in price from $41.52 to a most recent close of $55.58. In its most recent earnings report on April 23 it reported a year-over-year revenue increase of 21% with total revenue in the first quarter of $92.4 million. Adjusted net income for the quarter was $9.22 million resulting in adjusted earnings per share of $0.17. Its second quarter earnings announcement is scheduled for July 21. Year-to-date the company has a return of 16.4%.
