Medidata Solutions, Inc. (MDSO) Receives $84.25 Consensus Target Price from Brokerages
Medidata Solutions, Inc. (NASDAQ:MDSO) has been assigned a consensus recommendation of “Buy” from the fifteen ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $84.25.
MDSO has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Medidata Solutions from a “hold” rating to a “sell” rating in a research note on Thursday. J P Morgan Chase & Co lifted their target price on shares of Medidata Solutions to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. Citigroup Inc. reaffirmed a “buy” rating and issued a $94.00 target price (up from $77.00) on shares of Medidata Solutions in a research note on Monday, July 10th. Royal Bank Of Canada reissued a “hold” rating and set a $80.00 price objective on shares of Medidata Solutions in a research note on Friday, October 27th. Finally, KeyCorp reissued a “buy” rating and set a $86.00 price objective on shares of Medidata Solutions in a research note on Sunday, September 17th.
Medidata Solutions (NASDAQ:MDSO) traded up $1.40 during mid-day trading on Friday, reaching $71.78. 583,558 shares of the company’s stock traded hands, compared to its average volume of 545,348. The stock has a market capitalization of $4.20 billion, a PE ratio of 86.41 and a beta of 1.78.
Medidata Solutions (NASDAQ:MDSO) last released its earnings results on Thursday, October 26th. The company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm had revenue of $140.08 million during the quarter, compared to analysts’ expectations of $141.27 million. Medidata Solutions had a net margin of 7.84% and a return on equity of 11.54%. Medidata Solutions’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 EPS. sell-side analysts anticipate that Medidata Solutions will post 0.77 earnings per share for the current fiscal year.
In related news, COO Michael L. Capone sold 5,000 shares of Medidata Solutions 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.80% of the company’s stock.
Several large investors have recently bought and sold shares of MDSO. Canada Pension Plan Investment Board lifted its holdings in shares of Medidata Solutions by 2,994.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,151,200 shares of the company’s stock valued at $89,863,000 after acquiring an additional 1,114,000 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Medidata Solutions by 610.9% during the 3rd quarter. American Century Companies Inc. now owns 1,186,843 shares of the company’s stock valued at $92,645,000 after acquiring an additional 1,019,883 shares in the last quarter. State Street Corp lifted its holdings in shares of Medidata Solutions by 27.7% during the 2nd quarter. State Street Corp now owns 1,828,913 shares of the company’s stock valued at $143,022,000 after acquiring an additional 396,793 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Medidata Solutions by 1,571.0% during the 2nd quarter. Voya Investment Management LLC now owns 376,259 shares of the company’s stock valued at $29,423,000 after acquiring an additional 353,742 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Medidata Solutions by 562.8% during the 1st quarter. Renaissance Technologies LLC now owns 396,992 shares of the company’s stock valued at $22,902,000 after acquiring an additional 337,098 shares in the last quarter. Institutional investors and hedge funds own 98.49% of the company’s stock.
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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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