Medidata Solutions, Inc. (NASDAQ:MDSO) Given New $86.00 Price Target at Morgan Stanley
Medidata Solutions, Inc. (NASDAQ:MDSO) had its target price hoisted by analysts at Morgan Stanley from $74.00 to $86.00 in a note issued to investors on Thursday. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 13.49% from the company’s current price.
A number of other equities research analysts have also recently commented on MDSO. Piper Jaffray Companies increased their target price on Medidata Solutions from $60.00 to $72.00 and gave the company an “overweight” rating in a report on Tuesday, April 11th. Zacks Investment Research cut Medidata Solutions from a “buy” rating to a “hold” rating in a report on Thursday, April 13th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 target price on shares of Medidata Solutions in a report on Wednesday, April 19th. Jefferies Group LLC upgraded Medidata Solutions from an “underperform” rating to a “hold” rating and set a $46.00 target price on the stock in a report on Friday, April 28th. Finally, KeyCorp increased their target price on Medidata Solutions from $71.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, May 11th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $76.83.
Medidata Solutions (NASDAQ:MDSO) traded down 0.95% during trading on Thursday, reaching $75.78. The company’s stock had a trading volume of 1,225,065 shares. The company has a market capitalization of $4.27 billion, a PE ratio of 128.66 and a beta of 1.81. Medidata Solutions has a 52 week low of $46.10 and a 52 week high of $85.92. The company has a 50 day moving average price of $77.40 and a 200-day moving average price of $63.50.
Medidata Solutions (NASDAQ:MDSO) last announced its earnings results on Tuesday, July 18th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. The firm had revenue of $137.41 million for the quarter, compared to analysts’ expectations of $134.28 million. Medidata Solutions had a return on equity of 11.14% and a net margin of 7.07%. Medidata Solutions’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 EPS. Equities research analysts anticipate that Medidata Solutions will post $1.28 earnings per share for the current year.
In other news, EVP Michael I. Otner sold 7,500 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $66.39, for a total transaction of $497,925.00. Following the sale, the executive vice president now owns 78,419 shares in the company, valued at $5,206,237.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael L. Capone sold 5,000 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $69.46, for a total value of $347,300.00. Following the completion of the transaction, the chief operating officer now directly owns 171,754 shares in the company, valued at $11,930,032.84. The disclosure for this sale can be found here. Insiders have sold 18,139 shares of company stock worth $1,259,466 in the last 90 days. Insiders own 5.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Brown Capital Management LLC raised its position in shares of Medidata Solutions by 0.6% in the first quarter. Brown Capital Management LLC now owns 5,921,818 shares of the company’s stock valued at $341,630,000 after buying an additional 33,042 shares during the period. Vanguard Group Inc. raised its position in shares of Medidata Solutions by 5.1% in the first quarter. Vanguard Group Inc. now owns 4,874,974 shares of the company’s stock valued at $281,237,000 after buying an additional 235,190 shares during the period. Clearbridge Investments LLC raised its position in shares of Medidata Solutions by 61.4% in the first quarter. Clearbridge Investments LLC now owns 2,449,038 shares of the company’s stock valued at $141,285,000 after buying an additional 931,729 shares during the period. Champlain Investment Partners LLC raised its position in shares of Medidata Solutions by 11.5% in the first quarter. Champlain Investment Partners LLC now owns 1,653,230 shares of the company’s stock valued at $95,375,000 after buying an additional 169,870 shares during the period. Finally, State Street Corp raised its position in shares of Medidata Solutions by 17.1% in the first quarter. State Street Corp now owns 1,432,120 shares of the company’s stock valued at $82,615,000 after buying an additional 209,074 shares during the period.
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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