Procyon Advisors LLC Acquires 73 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Procyon Advisors LLC grew its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDPGet Rating) by 5.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,375 shares of the company’s stock after acquiring an additional 73 shares during the period. Procyon Advisors LLC’s holdings in Medpace were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of MEDP. Signaturefd LLC lifted its stake in shares of Medpace by 486.7% during the 1st quarter. Signaturefd LLC now owns 264 shares of the company’s stock valued at $43,000 after buying an additional 219 shares in the last quarter. Lansing Street Advisors purchased a new position in shares of Medpace during the 1st quarter valued at $44,000. Prospera Financial Services Inc purchased a new position in shares of Medpace during the 1st quarter valued at $47,000. Meeder Asset Management Inc. purchased a new position in shares of Medpace during the 1st quarter valued at $121,000. Finally, Van ECK Associates Corp lifted its stake in shares of Medpace by 15.9% during the 1st quarter. Van ECK Associates Corp now owns 772 shares of the company’s stock valued at $126,000 after buying an additional 106 shares in the last quarter. Institutional investors own 83.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on MEDP shares. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research note on Thursday, September 8th. UBS Group started coverage on shares of Medpace in a research note on Wednesday, September 7th. They issued a “sell” rating and a $142.00 price target on the stock.

Insider Activity

In other Medpace news, CEO August J. Troendle bought 22,290 shares of the firm’s stock in a transaction dated Thursday, July 14th. The shares were purchased at an average cost of $144.59 per share, for a total transaction of $3,222,911.10. Following the transaction, the chief executive officer now owns 5,505,309 shares of the company’s stock, valued at $796,012,628.31. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO August J. Troendle purchased 56,557 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were bought at an average cost of $157.65 per share, for a total transaction of $8,916,211.05. Following the acquisition, the chief executive officer now owns 5,774,100 shares of the company’s stock, valued at approximately $910,286,865. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO August J. Troendle purchased 22,290 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The shares were purchased at an average price of $144.59 per share, for a total transaction of $3,222,911.10. Following the completion of the acquisition, the chief executive officer now directly owns 5,505,309 shares in the company, valued at approximately $796,012,628.31. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 368,843 shares of company stock worth $57,662,959. 20.60% of the stock is currently owned by corporate insiders.

Medpace Stock Up 0.4 %

Shares of MEDP stock opened at $155.67 on Wednesday. The stock has a market cap of $4.83 billion, a P/E ratio of 27.03 and a beta of 1.47. Medpace Holdings, Inc. has a 52 week low of $126.94 and a 52 week high of $231.00. The company’s fifty day simple moving average is $161.17 and its two-hundred day simple moving average is $152.69.

Medpace (NASDAQ:MEDPGet Rating) last announced its quarterly earnings results on Monday, July 25th. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.34 by $0.12. The business had revenue of $351.21 million for the quarter, compared to analysts’ expectations of $344.01 million. Medpace had a net margin of 16.27% and a return on equity of 30.56%. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 EPS. On average, analysts anticipate that Medpace Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Medpace Company Profile

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Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also 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.

Further Reading

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Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

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