Kornitzer Capital Management Inc. KS Has $14,481,000 Stake in Medidata Solutions Inc. (MDSO)
Kornitzer Capital Management Inc. KS reduced its stake in shares of Medidata Solutions Inc. (NASDAQ:MDSO) by 18.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 308,960 shares of the company’s stock after selling 67,855 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Medidata Solutions were worth $14,481,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of MDSO. Teachers Advisors Inc. increased its stake in Medidata Solutions by 0.9% in the first quarter. Teachers Advisors Inc. now owns 91,369 shares of the company’s stock worth $3,537,000 after buying an additional 778 shares during the last quarter. Prudential Financial Inc. increased its stake in Medidata Solutions by 3.5% in the first quarter. Prudential Financial Inc. now owns 184,080 shares of the company’s stock worth $7,126,000 after buying an additional 6,240 shares during the last quarter. BlackRock Inc. increased its stake in Medidata Solutions by 127.8% in the first quarter. BlackRock Inc. now owns 3,690 shares of the company’s stock worth $143,000 after buying an additional 2,070 shares during the last quarter. BlackRock Group LTD increased its stake in Medidata Solutions by 9.0% in the first quarter. BlackRock Group LTD now owns 71,429 shares of the company’s stock worth $2,765,000 after buying an additional 5,907 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Medidata Solutions by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,359,364 shares of the company’s stock worth $52,621,000 after buying an additional 13,786 shares during the last quarter.
Shares of Medidata Solutions Inc. (NASDAQ:MDSO) traded down 5.01% during midday trading on Friday, hitting $49.70. 950,263 shares of the company were exchanged. The firm has a market cap of $2.76 billion, a P/E ratio of 127.76 and a beta of 1.29. The company’s 50 day moving average price is $55.00 and its 200 day moving average price is $48.41. Medidata Solutions Inc. has a one year low of $30.22 and a one year high of $57.21.
Medidata Solutions (NASDAQ:MDSO) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The company had revenue of $114.60 million for the quarter, compared to the consensus estimate of $112.39 million. Medidata Solutions had a return on equity of 10.32% and a net margin of 5.29%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 EPS. Equities analysts expect that Medidata Solutions Inc. will post $1.01 EPS for the current year.
MDSO has been the topic of several research analyst reports. Deutsche Bank AG raised their price objective on Medidata Solutions from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, September 13th. TheStreet upgraded Medidata Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, August 25th. Morgan Stanley restated a “buy” rating and set a $61.00 price objective on shares of Medidata Solutions in a research note on Thursday, August 25th. Needham & Company LLC restated a “buy” rating and set a $60.00 price objective (up from $55.00) on shares of Medidata Solutions in a research note on Sunday, July 24th. Finally, Wells Fargo & Co. cut Medidata Solutions from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. Medidata Solutions has a consensus rating of “Buy” and a consensus target price of $54.09.
In other news, Vice Chairman Steven Isaac Hirschfeld sold 20,825 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $52.89, for a total transaction of $1,101,434.25. Following the sale, the insider now directly owns 111,225 shares in the company, valued at $5,882,690.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael I. Otner sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $51.27, for a total value of $384,525.00. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.
About Medidata Solutions
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 Medidata Clinical Cloud provides a platform of technology and data analytics solutions designed to manage activities across clinical development.
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