Medidata Solutions’ (MDSO) Buy Rating Reaffirmed at KeyCorp

KeyCorp restated their buy rating on shares of Medidata Solutions, Inc. (NASDAQ:MDSO) in a research report report published on Sunday morning. They currently have a $86.00 target price on the stock. KeyCorp also issued estimates for Medidata Solutions’ FY2017 earnings at $0.74 EPS and FY2018 earnings at $1.00 EPS.

Several other research firms have also recently issued reports on MDSO. BidaskClub cut shares of Medidata Solutions from a buy rating to a hold rating in a research report on Wednesday, June 14th. SunTrust Banks, Inc. raised their price objective on shares of Medidata Solutions from $80.00 to $90.00 and gave the stock a buy rating in a research report on Tuesday, June 27th. J P Morgan Chase & Co raised their price objective on shares of Medidata Solutions to $87.00 and gave the stock an overweight rating in a research report on Tuesday, July 18th. Citigroup Inc. restated a buy rating and set a $94.00 price objective (up from $77.00) on shares of Medidata Solutions in a research report on Monday, July 10th. Finally, Morgan Stanley raised their price objective on shares of Medidata Solutions from $74.00 to $86.00 and gave the stock an overweight rating in a research report on Thursday, July 20th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $83.83.

Shares of Medidata Solutions (MDSO) opened at 76.79 on Friday. The stock has a 50 day moving average of $74.60 and a 200-day moving average of $70.33. Medidata Solutions has a 12-month low of $46.10 and a 12-month high of $85.92. The company has a market capitalization of $4.35 billion, a P/E ratio of 124.05 and a beta of 1.81.

Medidata Solutions (NASDAQ:MDSO) last released its quarterly earnings data on Tuesday, July 18th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.03. Medidata Solutions had a net margin of 7.07% and a return on equity of 11.14%. The firm had revenue of $137.41 million during the quarter, compared to analysts’ expectations of $134.28 million. During the same period last year, the business earned $0.24 earnings per share. Medidata Solutions’s revenue was up 19.9% compared to the same quarter last year. Equities research analysts forecast that Medidata Solutions will post $1.28 EPS for the current year.

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In other Medidata Solutions news, COO Michael L. Capone sold 5,000 shares of Medidata Solutions stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through this link. 5.80% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Medidata Solutions by 10.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,186 shares of the company’s stock valued at $171,000 after acquiring an additional 208 shares during the last quarter. Parametrica Management Ltd acquired a new stake in shares of Medidata Solutions during the second quarter valued at about $216,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Medidata Solutions during the second quarter valued at about $227,000. ETF Managers Group LLC acquired a new stake in shares of Medidata Solutions during the second quarter valued at about $233,000. Finally, LS Investment Advisors LLC increased its position in shares of Medidata Solutions by 44.6% during the first quarter. LS Investment Advisors LLC now owns 3,310 shares of the company’s stock valued at $191,000 after acquiring an additional 1,021 shares during the last quarter. Institutional investors and hedge funds own 97.52% 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.

Analyst Recommendations for Medidata Solutions (NASDAQ:MDSO)

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