Envestnet Asset Management Inc. Boosts Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Envestnet Asset Management Inc. grew its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 720.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 403,117 shares of the company’s stock after buying an additional 353,955 shares during the period. Envestnet Asset Management Inc. owned 1.32% of Medpace worth $8,053,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. UBS Group AG lifted its position in shares of Medpace by 185.1% during the 4th quarter. UBS Group AG now owns 23,896 shares of the company’s stock valued at $5,076,000 after buying an additional 15,513 shares in the last quarter. LSV Asset Management raised its stake in Medpace by 5,285.2% during the 1st quarter. LSV Asset Management now owns 54,229 shares of the company’s stock valued at $10,198,000 after purchasing an additional 53,222 shares during the period. Icon Wealth Partners LLC bought a new stake in Medpace during the 1st quarter valued at approximately $338,000. Laffer Tengler Investments bought a new stake in Medpace during the 4th quarter valued at approximately $158,000. Finally, Ausbil Investment Management Ltd bought a new stake in Medpace during the 1st quarter valued at approximately $1,200,000. 77.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Medpace

In other news, General Counsel Stephen P. Ewald sold 21,850 shares of Medpace stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $254.39, for a total value of $5,558,421.50. Following the completion of the transaction, the general counsel now owns 14,854 shares in the company, valued at approximately $3,778,709.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Robert O. Kraft sold 13,782 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $265.67, for a total transaction of $3,661,463.94. Following the completion of the transaction, the director now owns 188 shares in the company, valued at approximately $49,945.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Stephen P. Ewald sold 21,850 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $254.39, for a total value of $5,558,421.50. Following the transaction, the general counsel now owns 14,854 shares of the company’s stock, valued at approximately $3,778,709.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,632 shares of company stock worth $11,004,885. 25.70% of the stock is currently owned by company insiders.

Medpace Price Performance

NASDAQ:MEDP opened at $267.85 on Thursday. Medpace Holdings, Inc. has a 1 year low of $141.30 and a 1 year high of $274.61. The stock’s 50 day simple moving average is $253.34 and its two-hundred day simple moving average is $219.16. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 32.00 and a beta of 1.37.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, July 24th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. The business had revenue of $460.90 million for the quarter, compared to the consensus estimate of $433.75 million. Medpace had a return on equity of 72.88% and a net margin of 16.06%. The company’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. As a group, analysts anticipate that Medpace Holdings, Inc. will post 8.39 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group lifted their target price on Medpace from $215.00 to $270.00 in a research note on Wednesday, July 26th. Guggenheim lifted their target price on Medpace from $252.00 to $273.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. StockNews.com downgraded Medpace from a “buy” rating to a “hold” rating in a research note on Saturday, September 2nd. Finally, Robert W. Baird lifted their price objective on Medpace from $240.00 to $260.00 in a research note on Wednesday, July 26th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $267.67.

Medpace Profile

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.