Sumitomo Mitsui Trust Holdings Inc. Purchases 856 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 71.3% during the fourth quarter, HoldingsChannel reports. The firm owned 2,056 shares of the company’s stock after buying an additional 856 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Medpace were worth $630,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MEDP. Wellington Management Group LLP boosted its position in shares of Medpace by 312.6% during 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. Invesco Ltd. boosted its position in shares of Medpace by 67.6% during 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. Assenagon Asset Management S.A. bought a new position in shares of Medpace during the third quarter worth $30,252,000. International Assets Investment Management LLC boosted its position in shares of Medpace by 248,773.8% during the fourth quarter. International Assets Investment Management LLC now owns 104,527 shares of the company’s stock worth $32,041,000 after purchasing an additional 104,485 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in shares of Medpace by 682.8% during the third quarter. Lord Abbett & CO. LLC now owns 114,588 shares of the company’s stock worth $27,745,000 after purchasing an additional 99,949 shares in the last quarter. 77.98% of the stock is owned by institutional investors.

Insider Transactions at Medpace

In other news, VP Susan E. Burwig sold 102 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the transaction, the vice president now directly owns 15,181 shares in the company, valued at approximately $6,117,943. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Susan E. Burwig sold 102 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the transaction, the vice president now directly owns 15,181 shares in the company, valued at approximately $6,117,943. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ashley M. Keating sold 250 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $409.87, for a total transaction of $102,467.50. Following the transaction, the director now owns 250 shares in the company, valued at $102,467.50. The disclosure for this sale can be found here. Insiders have sold 189,340 shares of company stock worth $76,651,647 in the last ninety days. Insiders own 20.30% of the company’s stock.

Wall Street Analyst Weigh In

MEDP has been the topic of a number of recent analyst reports. UBS Group raised shares of Medpace from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $282.00 to $452.00 in a research report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Medpace in a research report on Monday, March 18th. They issued a “hold” rating and a $395.00 price objective on the stock. Robert W. Baird boosted their price objective on shares of Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a research report on Wednesday. Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and boosted their price objective for the company from $340.00 to $450.00 in a research report on Tuesday. Finally, StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $443.00.

Medpace Trading Down 2.0 %

Shares of MEDP stock opened at $389.77 on Friday. Medpace Holdings, Inc. has a 1 year low of $189.30 and a 1 year high of $421.00. The firm’s fifty day moving average price is $397.75 and its two-hundred day moving average price is $324.12. The firm has a market capitalization of $12.08 billion, a P/E ratio of 39.73, a PEG ratio of 2.04 and a beta of 1.38.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The firm had revenue of $511.00 million for the quarter, compared to analyst estimates of $512.39 million. During the same period in the previous year, the business earned $2.27 EPS. The company’s revenue was up 17.7% compared to the same quarter last year. As a group, equities research analysts forecast that Medpace Holdings, Inc. will post 11.13 EPS for the current fiscal year.

Medpace Company 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.