California Public Employees Retirement System trimmed its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP – Get Rating) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,785 shares of the company’s stock after selling 1,760 shares during the period. California Public Employees Retirement System owned approximately 0.20% of Medpace worth $13,336,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wasatch Advisors Inc. increased its holdings in Medpace by 12.1% in the 1st quarter. Wasatch Advisors Inc. now owns 2,728,392 shares of the company’s stock valued at $446,338,000 after buying an additional 294,103 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Medpace by 2,058.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 287,194 shares of the company’s stock worth $45,138,000 after acquiring an additional 273,887 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Medpace by 2,043.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 151,385 shares of the company’s stock worth $23,793,000 after acquiring an additional 144,323 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Medpace by 32.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 390,038 shares of the company’s stock valued at $58,377,000 after buying an additional 95,524 shares during the last quarter. Finally, Channing Capital Management LLC boosted its stake in shares of Medpace by 45.3% in the 3rd quarter. Channing Capital Management LLC now owns 231,460 shares of the company’s stock valued at $36,379,000 after purchasing an additional 72,149 shares during the last quarter. 82.49% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
MEDP has been the topic of several recent analyst reports. 22nd Century Group reissued an “upgrade” rating on shares of Medpace in a research note on Monday, May 8th. Robert W. Baird upped their price objective on Medpace from $226.00 to $233.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 15th. Guggenheim upgraded Medpace from a “neutral” rating to a “buy” rating and set a $252.00 target price on the stock in a research note on Monday, May 8th. Finally, StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.00.
Medpace Trading Down 0.3 %
Medpace (NASDAQ:MEDP – Get Rating) last announced its quarterly earnings data on Monday, April 24th. The company reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.51. The firm had revenue of $434.07 million during the quarter, compared to analysts’ expectations of $402.83 million. Medpace had a return on equity of 75.20% and a net margin of 16.44%. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.69 earnings per share. As a group, analysts predict that Medpace Holdings, Inc. will post 8.11 earnings per share for the current fiscal year.
Insider Buying and Selling at Medpace
In other news, CEO August J. Troendle sold 31,648 shares of the firm’s stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $221.83, for a total value of $7,020,475.84. Following the completion of the transaction, the chief executive officer now directly owns 6,451,371 shares in the company, valued at $1,431,107,628.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 25.70% of the company’s stock.
Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.
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