Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System lifted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,699 shares of the company’s stock after buying an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in Medpace were worth $2,303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MEDP. Vanguard Group Inc. grew its holdings in Medpace by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock valued at $783,626,000 after purchasing an additional 142,591 shares during the period. Riverbridge Partners LLC raised its holdings in Medpace by 7.1% in the fourth quarter. Riverbridge Partners LLC now owns 652,384 shares of the company’s stock valued at $199,975,000 after acquiring an additional 43,197 shares in the last quarter. TD Asset Management Inc increased its stake in Medpace by 195.2% during the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after purchasing an additional 308,816 shares during the last quarter. Wellington Management Group LLP increased its stake in Medpace by 312.6% during the third quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock valued at $102,013,000 after purchasing an additional 319,210 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in Medpace by 82.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock valued at $108,040,000 after purchasing an additional 159,144 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO August J. Troendle sold 3,987 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $395.22, for a total value of $1,575,742.14. Following the completion of the transaction, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at $260,983,922.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Medpace news, CEO August J. Troendle sold 3,987 shares of Medpace stock in a transaction on Friday, May 24th. The stock was sold at an average price of $395.22, for a total transaction of $1,575,742.14. Following the completion of the transaction, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at $260,983,922.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO August J. Troendle sold 5,695 shares of Medpace stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total value of $2,252,315.55. Following the transaction, the chief executive officer now directly owns 654,656 shares of the company’s stock, valued at $258,909,901.44. The disclosure for this sale can be found here. Insiders sold a total of 29,621 shares of company stock valued at $11,816,852 over the last ninety days. 20.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MEDP shares. TD Cowen began coverage on shares of Medpace in a research report on Wednesday, May 29th. They set a “buy” rating and a $452.00 price target for the company. Jefferies Financial Group upgraded Medpace from a “hold” rating to a “buy” rating and upped their target price for the company from $340.00 to $450.00 in a report on Tuesday, April 23rd. Robert W. Baird upped their target price on Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Guggenheim increased their price objective on Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a report on Friday, June 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Medpace has a consensus rating of “Moderate Buy” and an average price target of $443.14.

Medpace Trading Down 0.3 %

MEDP opened at $403.07 on Thursday. Medpace Holdings, Inc. has a 1-year low of $227.21 and a 1-year high of $437.39. The stock has a market capitalization of $12.49 billion, a price-to-earnings ratio of 41.09, a P/E/G ratio of 2.04 and a beta of 1.36. The business has a 50 day moving average of $397.80 and a 200-day moving average of $369.78.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.75. The company had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $512.39 million. Medpace had a return on equity of 59.74% and a net margin of 15.92%. Medpace’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.27 earnings per share. Equities analysts predict that Medpace Holdings, Inc. will post 11.29 EPS for the current year.

Medpace Profile

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.