Medidata Solutions, Inc. (NASDAQ:MDSO) had its price objective raised by analysts at J P Morgan Chase & Co to $87.00 in a research note issued on Tuesday, July 18th, The Fly reports. The brokerage currently has an “overweight” rating on the stock. J P Morgan Chase & Co’s price target suggests a potential upside of 11.95% from the company’s current price.
A number of other equities analysts have also commented on the company. Bank of America Corporation initiated coverage on Medidata Solutions in a research note on Tuesday, June 6th. They set a “buy” rating and a $85.00 price target for the company. Zacks Investment Research lowered Medidata Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, April 13th. BidaskClub raised Medidata Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Jefferies Group LLC raised Medidata Solutions from an “underperform” rating to a “hold” rating and lowered their price objective for the company from $47.00 to $46.00 in a research note on Monday, May 1st. Finally, Needham & Company LLC raised their price objective on Medidata Solutions from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, April 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Medidata Solutions presently has a consensus rating of “Buy” and an average price target of $78.17.
Shares of Medidata Solutions (MDSO) traded up 0.52% during trading on Tuesday, reaching $77.71. 225,110 shares of the company were exchanged. The company has a market capitalization of $4.40 billion, a PE ratio of 125.54 and a beta of 1.79. Medidata Solutions has a one year low of $46.10 and a one year high of $85.92. The firm’s 50 day moving average price is $77.80 and its 200 day moving average price is $65.11.
Medidata Solutions (NASDAQ:MDSO) last announced its quarterly 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. Medidata Solutions had a return on equity of 11.14% and a net margin of 7.07%. The company had revenue of $137.41 million during the quarter, compared to analyst estimates of $134.28 million. During the same period in the prior year, the company earned $0.24 earnings per share. The firm’s revenue was up 19.9% on a year-over-year basis. Equities research analysts forecast that Medidata Solutions will post $1.28 earnings per share for the current fiscal year.
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In related news, Director Robert Taylor sold 5,639 shares of Medidata Solutions stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $73.46, for a total value of $414,240.94. Following the completion of the transaction, the director now owns 54,372 shares in the company, valued at approximately $3,994,167.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Michael L. Capone sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 171,754 shares of the company’s stock, valued at $11,930,032.84. The disclosure for this sale can be found here. Company insiders own 5.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC bought a new position in shares of Medidata Solutions during the first quarter valued at $121,000. LS Investment Advisors LLC boosted its position in Medidata Solutions by 44.6% in the first quarter. LS Investment Advisors LLC now owns 3,310 shares of the company’s stock worth $191,000 after buying an additional 1,021 shares in the last quarter. World Asset Management Inc acquired a new position in Medidata Solutions during the first quarter worth approximately $201,000. Miles Capital Inc. acquired a new position in Medidata Solutions during the first quarter worth approximately $202,000. Finally, Oppenheimer & Close LLC acquired a new position in Medidata Solutions during the first quarter worth approximately $210,000.
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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