Allspring Global Investments Holdings LLC Has $4.18 Million Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Allspring Global Investments Holdings LLC lifted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 16.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,340 shares of the company’s stock after purchasing an additional 1,446 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Medpace were worth $4,179,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Miller Howard Investments Inc. NY increased its position in shares of Medpace by 1.3% during the fourth quarter. Miller Howard Investments Inc. NY now owns 3,075 shares of the company’s stock valued at $943,000 after acquiring an additional 39 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in Medpace by 5.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 954 shares of the company’s stock worth $292,000 after acquiring an additional 45 shares during the last quarter. GAMMA Investing LLC lifted its position in Medpace by 43.3% during the first quarter. GAMMA Investing LLC now owns 149 shares of the company’s stock valued at $60,000 after purchasing an additional 45 shares during the last quarter. Campbell Newman Asset Management Inc. grew its position in Medpace by 0.4% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 11,095 shares of the company’s stock worth $3,401,000 after acquiring an additional 46 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Medpace by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 10,230 shares of the company’s stock valued at $2,477,000 after buying an additional 50 shares in the last quarter. 77.98% of the stock is owned by institutional investors.

Insider Transactions at Medpace

In other news, CEO August J. Troendle sold 15,102 shares of Medpace stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $400.69, for a total value of $6,051,220.38. Following the sale, the chief executive officer now directly owns 791,541 shares of the company’s stock, valued at $317,162,563.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO August J. Troendle sold 4,782 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total value of $1,915,573.56. Following the sale, the chief executive officer now directly owns 716,197 shares in the company, valued at approximately $286,894,194.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO August J. Troendle sold 15,102 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the sale, the chief executive officer now owns 791,541 shares in the company, valued at $317,162,563.29. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,621 shares of company stock valued at $11,816,852. 20.30% of the stock is currently owned by corporate insiders.

Medpace Price Performance

Shares of NASDAQ:MEDP traded up $1.35 during midday trading on Tuesday, hitting $408.59. The company had a trading volume of 25,807 shares, compared to its average volume of 230,394. The company has a market cap of $12.66 billion, a price-to-earnings ratio of 41.51, a PEG ratio of 2.04 and a beta of 1.36. The company has a fifty day moving average of $397.75 and a two-hundred day moving average of $368.81. Medpace Holdings, Inc. has a 12-month low of $227.21 and a 12-month high of $437.39.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. The business had revenue of $511.00 million during the quarter, compared to analyst estimates of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The company’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.27 earnings per share. Research analysts expect that Medpace Holdings, Inc. will post 11.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MEDP has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Medpace in a research report on Monday, March 18th. They set a “hold” rating and a $395.00 price target for the company. Jefferies Financial Group upgraded Medpace from a “hold” rating to a “buy” rating and increased their price objective for the stock from $340.00 to $450.00 in a report on Tuesday, April 23rd. Mizuho initiated coverage on Medpace in a research report on Tuesday, May 28th. They set a “buy” rating and a $435.00 price objective for the company. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a report on Friday, June 7th. Finally, TD Cowen began coverage on Medpace in a report on Wednesday, May 29th. They issued a “buy” rating and a $452.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Medpace presently has an average rating of “Moderate Buy” and an average price target of $443.14.

About Medpace

Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. The company offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. It provides clinical development services to the pharmaceutical, biotechnology, and medical device industries; and development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support services.