State of Alaska Department of Revenue Reduces Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

State of Alaska Department of Revenue decreased its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,521 shares of the company’s stock after selling 235 shares during the quarter. State of Alaska Department of Revenue’s holdings in Medpace were worth $772,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MEDP. Rice Hall James & Associates LLC boosted its holdings in shares of Medpace by 12.1% in the first quarter. Rice Hall James & Associates LLC now owns 183,556 shares of the company’s stock worth $30,028,000 after buying an additional 19,884 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Medpace by 28.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,581 shares of the company’s stock worth $259,000 after acquiring an additional 349 shares during the period. Cetera Advisor Networks LLC raised its stake in Medpace by 26.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 2,304 shares of the company’s stock worth $377,000 after acquiring an additional 477 shares during the period. Rhumbline Advisers raised its stake in Medpace by 2.4% during the 1st quarter. Rhumbline Advisers now owns 78,755 shares of the company’s stock worth $12,884,000 after acquiring an additional 1,827 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Medpace by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,537 shares of the company’s stock worth $1,724,000 after acquiring an additional 1,005 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Insider Buying and Selling

In related news, Director Ashley M. Keating sold 250 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $409.87, for a total value of $102,467.50. Following the sale, the director now owns 250 shares in the company, valued at $102,467.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ashley M. Keating sold 250 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $409.87, for a total value of $102,467.50. Following the sale, the director now owns 250 shares in the company, valued at $102,467.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO August J. Troendle sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the completion of the sale, the chief executive officer now owns 4,833,019 shares in the company, valued at approximately $1,995,940,186.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,340 shares of company stock worth $76,651,647. Insiders own 25.70% of the company’s stock.

Wall Street Analyst Weigh In

MEDP has been the topic of a number of recent analyst reports. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a research note on Saturday, March 23rd. UBS Group upgraded shares of Medpace from a “neutral” rating to a “buy” rating and raised their target price for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Medpace in a research note on Monday, March 18th. They set a “hold” rating and a $395.00 target price on the stock. Finally, Robert W. Baird lifted their price objective on shares of Medpace from $312.00 to $408.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $382.00.

Medpace Price Performance

Medpace stock opened at $397.72 on Thursday. The stock has a market cap of $12.32 billion, a P/E ratio of 44.79, a PEG ratio of 2.16 and a beta of 1.38. Medpace Holdings, Inc. has a 1 year low of $185.43 and a 1 year high of $419.42. The firm’s 50 day moving average price is $384.66 and its 200-day moving average price is $313.58.

Medpace (NASDAQ:MEDP) last released its quarterly earnings data on Monday, February 12th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.24. The firm had revenue of $498.40 million for the quarter, compared to analysts’ expectations of $498.72 million. Medpace had a net margin of 15.00% and a return on equity of 63.98%. The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.12 earnings per share. As a group, equities analysts expect that Medpace Holdings, Inc. will post 10.53 EPS for the current year.

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.