Medidata Solutions, Inc. (MDSO) Given New $87.00 Price Target at J P Morgan Chase & Co
Medidata Solutions, Inc. (NASDAQ:MDSO) had its target price increased by equities researchers at J P Morgan Chase & Co to $87.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The firm presently has an “overweight” rating on the stock. J P Morgan Chase & Co’s price objective would indicate a potential upside of 7.41% from the stock’s current price.
MDSO has been the topic of a number of other reports. Morgan Stanley lifted their price objective on shares of Medidata Solutions from $63.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, April 28th. Needham & Company LLC lifted their price objective on shares of Medidata Solutions from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, April 27th. Piper Jaffray Companies lifted their price objective on shares of Medidata Solutions to $87.00 and gave the company an “overweight” rating in a research report on Friday, July 7th. BidaskClub upgraded shares of Medidata Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, Zacks Investment Research upgraded shares of Medidata Solutions from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Medidata Solutions presently has an average rating of “Buy” and a consensus target price of $75.83.
Medidata Solutions (MDSO) traded down 1.00% during mid-day trading on Tuesday, hitting $80.19. 1,898,123 shares of the stock traded hands. Medidata Solutions has a 12-month low of $46.10 and a 12-month high of $85.92. The stock has a market cap of $4.52 billion, a PE ratio of 136.15 and a beta of 1.80. The company has a 50 day moving average of $74.17 and a 200-day moving average of $60.68.
Medidata Solutions (NASDAQ:MDSO) last posted its quarterly earnings data on Tuesday, July 18th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. Medidata Solutions had a net margin of 6.72% and a return on equity of 11.05%. The firm had revenue of $137.41 million for the quarter, compared to analyst estimates of $134.28 million. During the same period last year, the firm posted $0.24 EPS. Medidata Solutions’s quarterly revenue was up 19.9% on a year-over-year basis. Equities research analysts forecast that Medidata Solutions will post $1.29 earnings per share for the current year.
In related news, COO Michael L. Capone sold 5,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $69.46, for a total value of $347,300.00. Following the sale, the chief operating officer now directly owns 171,754 shares in the company, valued at approximately $11,930,032.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael I. Otner sold 7,500 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $66.39, for a total transaction of $497,925.00. Following the completion of the sale, the executive vice president now owns 78,419 shares in the company, valued at $5,206,237.41. The disclosure for this sale can be found here. Insiders sold a total of 18,139 shares of company stock worth $1,259,466 over the last quarter. Insiders own 5.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in MDSO. Rockefeller Financial Services Inc. raised its stake in Medidata Solutions by 3.0% in the second quarter. Rockefeller Financial Services Inc. now owns 324,783 shares of the company’s stock valued at $25,398,000 after buying an additional 9,345 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Medidata Solutions during the second quarter valued at approximately $696,000. LS Investment Advisors LLC raised its stake in Medidata Solutions by 49.5% in the second quarter. LS Investment Advisors LLC now owns 4,947 shares of the company’s stock valued at $387,000 after buying an additional 1,637 shares in the last quarter. CrestPoint Capital Management LLC raised its stake in Medidata Solutions by 38.2% in the second quarter. CrestPoint Capital Management LLC now owns 18,100 shares of the company’s stock valued at $1,415,000 after buying an additional 5,000 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new stake in Medidata Solutions during the second quarter valued at approximately $925,000.
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 Company’s plan study addresses three areas to ensure optimal study design, grant development and negotiation, and investigator payments.
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