Needham & Company LLC Cuts Medidata Solutions (MDSO) Price Target to $75.00
Medidata Solutions (NASDAQ:MDSO) had its target price lowered by equities research analysts at Needham & Company LLC to $75.00 in a research report issued to clients and investors on Friday. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 15.44% from the stock’s previous close.
Other analysts also recently issued reports about the company. Royal Bank of Canada set a $82.00 price target on Medidata Solutions and gave the stock a “hold” rating in a report on Thursday. SunTrust Banks reaffirmed a “buy” rating and set a $92.00 price target on shares of Medidata Solutions in a report on Friday, October 27th. Wells Fargo & Co decreased their price target on Medidata Solutions from $83.00 to $80.00 and set a “market perform” rating for the company in a report on Friday, October 27th. Dougherty & Co began coverage on Medidata Solutions in a report on Thursday, November 2nd. They set a “neutral” rating for the company. Finally, Zacks Investment Research raised Medidata Solutions from a “sell” rating to a “hold” rating in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $83.00.
Medidata Solutions (NASDAQ:MDSO) opened at $64.97 on Friday. The stock has a market capitalization of $3,660.24, a price-to-earnings ratio of 87.80, a P/E/G ratio of 3.24 and a beta of 1.58. Medidata Solutions has a fifty-two week low of $54.36 and a fifty-two week high of $85.92. The company has a quick ratio of 3.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.20.
In other news, Director Carlos Dominguez sold 9,066 shares of Medidata Solutions stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $66.85, for a total transaction of $606,062.10. Following the sale, the director now owns 66,020 shares in the company, valued at $4,413,437. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rouven Bergmann sold 3,000 shares of Medidata Solutions stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $70.00, for a total value of $210,000.00. Following the sale, the chief financial officer now owns 84,775 shares in the company, valued at approximately $5,934,250. The disclosure for this sale can be found here. Insiders have sold 29,010 shares of company stock worth $1,962,206 in the last quarter. Insiders own 5.80% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Royce & Associates LP increased its position in shares of Medidata Solutions by 45.6% during the fourth quarter. Royce & Associates LP now owns 416,017 shares of the company’s stock worth $26,363,000 after purchasing an additional 130,352 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Medidata Solutions by 4.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 37,821 shares of the company’s stock worth $2,397,000 after purchasing an additional 1,639 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of Medidata Solutions during the fourth quarter worth about $626,000. Polen Capital Management LLC increased its position in shares of Medidata Solutions by 77.0% during the fourth quarter. Polen Capital Management LLC now owns 4,640 shares of the company’s stock worth $294,000 after purchasing an additional 2,018 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Medidata Solutions by 27.1% during the fourth quarter. Arizona State Retirement System now owns 42,079 shares of the company’s stock worth $2,667,000 after purchasing an additional 8,965 shares in 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.
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