Medidata Solutions (MDSO) Price Target Cut to $74.00 by Analysts at JPMorgan Chase & Co.

Medidata Solutions (NASDAQ:MDSO) had its price objective reduced by investment analysts at JPMorgan Chase & Co. to $74.00 in a research note issued on Friday, The Fly reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s target price points to a potential upside of 5.62% from the stock’s current price.

Several other analysts also recently weighed in on the stock. ValuEngine downgraded shares of Medidata Solutions from a “buy” rating to a “hold” rating in a report on Monday, September 17th. Royal Bank of Canada lowered their target price on shares of Medidata Solutions to $91.00 and set an “outperform” rating on the stock in a report on Tuesday, September 25th. Morgan Stanley set a $84.00 target price on shares of Medidata Solutions and gave the company a “hold” rating in a report on Wednesday, July 25th. BidaskClub raised shares of Medidata Solutions from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 16th. Finally, Piper Jaffray Companies lowered their target price on shares of Medidata Solutions from $96.00 to $93.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $85.25.

Shares of NASDAQ:MDSO opened at $70.06 on Friday. The stock has a market capitalization of $4.23 billion, a PE ratio of 82.42, a PEG ratio of 4.45 and a beta of 1.44. The company has a current ratio of 2.52, a quick ratio of 1.41 and a debt-to-equity ratio of 0.15. Medidata Solutions has a fifty-two week low of $59.60 and a fifty-two week high of $88.87.

Medidata Solutions (NASDAQ:MDSO) last issued its earnings results on Thursday, October 18th. The company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.06. The business had revenue of $163.41 million for the quarter, compared to the consensus estimate of $162.09 million. Medidata Solutions had a net margin of 8.43% and a return on equity of 10.70%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 earnings per share. On average, equities analysts predict that Medidata Solutions will post 0.79 earnings per share for the current fiscal year.

In related news, EVP Michael I. Otner sold 9,288 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Taylor sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $73.05, for a total transaction of $365,250.00. Following the completion of the sale, the director now owns 44,036 shares of the company’s stock, valued at approximately $3,216,829.80. The disclosure for this sale can be found here. Insiders sold 26,788 shares of company stock valued at $2,069,857 in the last quarter. Company insiders own 4.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Peregrine Capital Management LLC lifted its stake in shares of Medidata Solutions by 13.0% in the third quarter. Peregrine Capital Management LLC now owns 343,883 shares of the company’s stock valued at $25,210,000 after purchasing an additional 39,475 shares during the period. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Medidata Solutions in the third quarter valued at about $293,000. Nikko Asset Management Americas Inc. lifted its stake in shares of Medidata Solutions by 50.2% in the third quarter. Nikko Asset Management Americas Inc. now owns 717,367 shares of the company’s stock valued at $52,188,000 after purchasing an additional 239,792 shares during the period. Bank of Montreal Can lifted its stake in shares of Medidata Solutions by 20.7% in the third quarter. Bank of Montreal Can now owns 29,096 shares of the company’s stock valued at $2,134,000 after purchasing an additional 4,995 shares during the period. Finally, KAMES CAPITAL plc lifted its stake in shares of Medidata Solutions by 16.3% in the third quarter. KAMES CAPITAL plc now owns 31,534 shares of the company’s stock valued at $2,312,000 after purchasing an additional 4,420 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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