Medidata Solutions, Inc. (MDSO) Price Target Cut to $80.00 by Analysts at Wells Fargo & Company
Medidata Solutions, Inc. (NASDAQ:MDSO) had its target price cut by equities researchers at Wells Fargo & Company from $83.00 to $80.00 in a research report issued to clients and investors on Friday. The brokerage currently has a “market perform” rating on the stock. Wells Fargo & Company’s price target would suggest a potential upside of 10.71% from the stock’s previous close.
Several other analysts also recently commented on MDSO. Jefferies Group LLC reaffirmed a “hold” rating and issued a $78.00 price objective on shares of Medidata Solutions in a report on Tuesday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective (up from $75.00) on shares of Medidata Solutions in a report on Friday, July 21st. Royal Bank Of Canada assumed coverage on shares of Medidata Solutions in a report on Tuesday, September 19th. They issued a “sector perform” rating and a $82.00 price objective on the stock. Zacks Investment Research raised shares of Medidata Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $94.00 price objective (up from $77.00) on shares of Medidata Solutions in a report on Monday, July 10th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $84.25.
Shares of Medidata Solutions (NASDAQ:MDSO) traded down 4.08% on Friday, hitting $72.26. 1,144,275 shares of the stock traded hands. Medidata Solutions has a one year low of $46.10 and a one year high of $85.92. The company has a market cap of $4.09 billion, a PE ratio of 116.74 and a beta of 1.77. The stock has a 50 day moving average of $78.05 and a 200 day moving average of $74.43.
Medidata Solutions (NASDAQ:MDSO) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The business had revenue of $140.08 million for the quarter, compared to the consensus estimate of $141.27 million. Medidata Solutions had a net margin of 7.84% and a return on equity of 11.54%. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. Equities analysts anticipate that Medidata Solutions will post $1.28 earnings per share for the current year.
In related news, COO Michael L. Capone sold 5,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $74.53, for a total transaction of $372,650.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.80% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. American Capital Management Inc. raised its position in Medidata Solutions by 0.8% during the third quarter. American Capital Management Inc. now owns 357,548 shares of the company’s stock worth $27,910,000 after acquiring an additional 2,792 shares during the period. Conestoga Capital Advisors LLC raised its position in Medidata Solutions by 2.0% during the third quarter. Conestoga Capital Advisors LLC now owns 663,762 shares of the company’s stock worth $51,813,000 after acquiring an additional 12,821 shares during the period. Fortaleza Asset Management Inc. acquired a new position in Medidata Solutions during the third quarter worth $155,000. Crossmark Global Holdings Inc. acquired a new position in Medidata Solutions during the third quarter worth $594,000. Finally, Pictet Asset Management Ltd. raised its position in Medidata Solutions by 7.9% during the third quarter. Pictet Asset Management Ltd. now owns 117,700 shares of the company’s stock worth $9,188,000 after acquiring an additional 8,632 shares during the period. Institutional investors own 98.38% of the company’s stock.
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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