Medidata Solutions (MDSO) Given New $93.00 Price Target at Piper Jaffray Companies

Medidata Solutions (NASDAQ:MDSO) had its price target decreased by stock analysts at Piper Jaffray Companies from $96.00 to $93.00 in a research report issued to clients and investors on Thursday, The Fly reports. Piper Jaffray Companies’ price target would indicate a potential upside of 31.32% from the stock’s previous close.

Several other brokerages have also commented on MDSO. Zacks Investment Research lowered shares of Medidata Solutions from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. Royal Bank of Canada raised shares of Medidata Solutions from a “sector perform” rating to an “outperform” rating and set a $100.00 price objective for the company in a research report on Tuesday, July 17th. ValuEngine raised shares of Medidata Solutions from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. BidaskClub lowered shares of Medidata Solutions from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Finally, Morgan Stanley set a $84.00 price objective on shares of Medidata Solutions and gave the company a “hold” rating in a research report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $86.75.

Shares of MDSO stock traded up $1.55 during mid-day trading on Thursday, hitting $70.82. 1,939,500 shares of the stock traded hands, compared to its average volume of 641,541. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 83.32, a PEG ratio of 4.59 and a beta of 1.44. Medidata Solutions has a 52-week low of $59.60 and a 52-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 announced its quarterly earnings data 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. The firm had revenue of $163.41 million during the quarter, compared to analyst estimates of $162.09 million. Medidata Solutions had a net margin of 9.13% and a return on equity of 11.37%. Medidata Solutions’s revenue was up 17.6% on a year-over-year basis. During the same period last year, the firm posted $0.33 EPS. As a group, equities analysts predict that Medidata Solutions will post 0.79 earnings per share for the current fiscal year.

In related news, Director Robert Taylor sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $73.05, for a total value of $365,250.00. Following the transaction, the director now owns 44,036 shares in the company, valued at approximately $3,216,829.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael I. Otner sold 9,288 shares of the stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $81.03, for a total transaction of $752,606.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,788 shares of company stock worth $2,069,857. 4.70% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of MDSO. Janus Henderson Group PLC increased its holdings in Medidata Solutions by 69.7% in the 2nd quarter. Janus Henderson Group PLC now owns 1,904,094 shares of the company’s stock worth $153,394,000 after buying an additional 782,194 shares during the period. Fred Alger Management Inc. increased its holdings in Medidata Solutions by 87.3% in the 2nd quarter. Fred Alger Management Inc. now owns 1,068,170 shares of the company’s stock worth $86,052,000 after buying an additional 497,817 shares during the period. Ownership Capital B.V. acquired a new position in Medidata Solutions in the 2nd quarter worth approximately $29,140,000. Copper Rock Capital Partners LLC acquired a new position in Medidata Solutions in the 2nd quarter worth approximately $23,489,000. Finally, Nikko Asset Management Americas Inc. increased its holdings in Medidata Solutions by 50.2% in the 3rd quarter. Nikko Asset Management Americas Inc. now owns 717,367 shares of the company’s stock worth $52,188,000 after buying an additional 239,792 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.

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