Arizona State Retirement System Sells 112 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Arizona State Retirement System decreased its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,835 shares of the company’s stock after selling 112 shares during the quarter. Arizona State Retirement System’s holdings in Medpace were worth $2,095,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MEDP. Wellington Management Group LLP raised its holdings in Medpace by 312.6% in the third quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock worth $102,013,000 after purchasing an additional 319,210 shares in the last quarter. Wasatch Advisors Inc. raised its holdings in Medpace by 12.1% in the first quarter. Wasatch Advisors Inc. now owns 2,728,392 shares of the company’s stock worth $446,338,000 after purchasing an additional 294,103 shares in the last quarter. Invesco Ltd. raised its holdings in Medpace by 67.6% in the third quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock worth $148,159,000 after purchasing an additional 246,775 shares in the last quarter. Millennium Management LLC raised its holdings in Medpace by 102.3% in the fourth quarter. Millennium Management LLC now owns 450,938 shares of the company’s stock worth $95,784,000 after purchasing an additional 228,001 shares in the last quarter. Finally, Norges Bank bought a new position in Medpace in the fourth quarter worth $43,977,000. Institutional investors own 77.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on MEDP. Robert W. Baird increased their target price on Medpace from $312.00 to $408.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. StockNews.com cut Medpace from a “buy” rating to a “hold” rating in a research note on Saturday, March 23rd. UBS Group raised Medpace from a “neutral” rating to a “buy” rating and increased their target price for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Medpace in a research note on Monday, March 18th. They issued a “hold” rating and a $395.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $382.00.

Medpace Price Performance

Medpace stock opened at $402.30 on Friday. Medpace Holdings, Inc. has a one year low of $185.43 and a one year high of $419.42. The stock has a market capitalization of $12.46 billion, a PE ratio of 45.30, a price-to-earnings-growth ratio of 2.16 and a beta of 1.38. The business’s fifty day moving average is $386.80 and its 200 day moving average is $314.19.

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

Insider Activity at Medpace

In related news, CEO August J. Troendle sold 100,000 shares of the 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 sale, the chief executive officer now directly owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Medpace news, major shareholder Medpace Investors, Llc sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $391.75, for a total value of $19,587,500.00. Following the transaction, the insider now directly owns 5,539,947 shares of the company’s stock, valued at $2,170,274,237.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO August J. Troendle sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total value of $41,298,000.00. Following the completion of the transaction, the chief executive officer now directly owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock valued at $76,651,647 over the last ninety days. Insiders own 25.70% of the company’s stock.

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.