Medidata Solutions (MDSO) Price Target Lowered to $93.00 at Piper Jaffray Companies

Medidata Solutions (NASDAQ:MDSO) had its price target reduced by Piper Jaffray Companies from $96.00 to $93.00 in a research note issued to investors on Thursday morning, The Fly reports.

MDSO has been the topic of several other reports. Royal Bank of Canada reduced their price target on Medidata Solutions to $91.00 and set an outperform rating on the stock in a research report on Tuesday, September 25th. Zacks Investment Research lowered Medidata Solutions from a hold rating to a sell rating in a research report on Thursday, June 21st. JPMorgan Chase & Co. lowered Medidata Solutions from an overweight rating to a neutral rating and set a $87.00 price target on the stock. in a research report on Tuesday, July 24th. ValuEngine lowered Medidata Solutions from a buy rating to a hold rating in a research report on Tuesday, July 24th. Finally, Morgan Stanley set a $84.00 price target on Medidata Solutions and gave the stock a hold rating in a research report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $86.33.

Shares of NASDAQ MDSO traded down $0.75 during midday trading on Thursday, hitting $70.07. The stock had a trading volume of 41,876 shares, compared to its average volume of 766,541. The stock has a market capitalization of $4.13 billion, a P/E ratio of 83.52, a price-to-earnings-growth ratio of 4.35 and a beta of 1.44. Medidata Solutions has a fifty-two week low of $59.60 and a fifty-two week high of $88.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.41 and a current ratio of 1.41.

Medidata Solutions (NASDAQ:MDSO) last released its earnings results on Thursday, October 18th. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.06. Medidata Solutions had a return on equity of 11.37% and a net margin of 9.13%. The company had revenue of $163.41 million during the quarter, compared to analysts’ expectations of $162.09 million. During the same period last year, the firm earned $0.33 EPS. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. Equities research analysts forecast that Medidata Solutions will post 0.79 earnings per share for the current fiscal year.

In other Medidata Solutions news, Director Robert Taylor sold 5,000 shares of Medidata Solutions stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $73.05, for a total value of $365,250.00. Following the sale, the director now owns 44,036 shares of the company’s stock, valued at approximately $3,216,829.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael I. Otner sold 9,288 shares of Medidata Solutions stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $81.03, for a total value of $752,606.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,788 shares of company stock worth $2,069,857. Corporate insiders own 4.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its stake in shares of Medidata Solutions by 3.5% in the 2nd quarter. American Century Companies Inc. now owns 1,494,796 shares of the company’s stock valued at $120,421,000 after purchasing an additional 50,370 shares during the period. Zevenbergen Capital Investments LLC raised its stake in shares of Medidata Solutions by 2.2% in the 2nd quarter. Zevenbergen Capital Investments LLC now owns 567,229 shares of the company’s stock valued at $45,696,000 after purchasing an additional 12,245 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of Medidata Solutions by 3.0% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 34,464 shares of the company’s stock valued at $2,776,000 after purchasing an additional 993 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of Medidata Solutions by 4.5% in the 2nd quarter. Great West Life Assurance Co. Can now owns 34,943 shares of the company’s stock valued at $2,815,000 after purchasing an additional 1,503 shares during the period. Finally, State of Wisconsin Investment Board raised its stake in shares of Medidata Solutions by 21.2% in the 2nd quarter. State of Wisconsin Investment Board now owns 171,400 shares of the company’s stock valued at $13,808,000 after purchasing an additional 30,000 shares during the period.

Medidata Solutions Company Profile

Medidata Solutions, Inc provides cloud-based solutions for life sciences worldwide. It offers the Medidata Clinical Cloud, a platform, pioneering analytics, and clinical technology for the development of new therapies. The company's platform solutions include data capture and management and trial planning and management.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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Analyst Recommendations for Medidata Solutions (NASDAQ:MDSO)

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