17,483 Shares in Medpace Holdings, Inc. (NASDAQ:MEDP) Purchased by abrdn plc

abrdn plc acquired a new position in Medpace Holdings, Inc. (NASDAQ:MEDP) during the 4th quarter, Holdings Channel reports. The fund acquired 17,483 shares of the company’s stock, valued at approximately $5,359,000.

Several other institutional investors and hedge funds have also made changes to their positions in MEDP. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Medpace by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,897 shares of the company’s stock valued at $2,114,000 after purchasing an additional 148 shares during the last quarter. Portside Wealth Group LLC raised its stake in Medpace by 14.8% in the 4th quarter. Portside Wealth Group LLC now owns 1,419 shares of the company’s stock valued at $435,000 after purchasing an additional 183 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Medpace by 355.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,555 shares of the company’s stock valued at $1,090,000 after purchasing an additional 2,774 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Medpace in the 4th quarter valued at about $1,992,000. Finally, Chase Investment Counsel Corp raised its stake in Medpace by 3.2% in the 3rd quarter. Chase Investment Counsel Corp now owns 9,849 shares of the company’s stock valued at $2,384,000 after purchasing an additional 301 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MEDP has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Medpace in a research note on Monday, March 18th. They issued a “hold” rating and a $395.00 target price for the company. Robert W. Baird upped their price objective on shares of Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a research note on Wednesday. Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and upped their price objective for the company from $340.00 to $450.00 in a research note on Tuesday, April 23rd. UBS Group raised shares of Medpace from a “neutral” rating to a “buy” rating and upped their price objective for the company from $282.00 to $452.00 in a research note on Thursday, February 15th. Finally, StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $443.00.

Insider Buying and Selling

In related news, VP Susan E. Burwig sold 102 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the completion of the sale, the vice president now owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Medpace news, Director Ashley M. Keating sold 250 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $409.87, for a total value of $102,467.50. Following the completion of the transaction, the director now owns 250 shares in the company, valued at approximately $102,467.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Susan E. Burwig sold 102 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $403.00, for a total value of $41,106.00. Following the completion of the transaction, the vice president now owns 15,181 shares of the company’s stock, valued at approximately $6,117,943. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,340 shares of company stock valued at $76,651,647. 20.30% of the stock is currently owned by corporate insiders.

Medpace Price Performance

NASDAQ MEDP opened at $395.93 on Friday. The company has a 50-day moving average of $397.83 and a 200-day moving average of $325.70. The company has a market cap of $12.27 billion, a P/E ratio of 40.36, a P/E/G ratio of 1.94 and a beta of 1.38. Medpace Holdings, Inc. has a 12 month low of $189.30 and a 12 month high of $421.00.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. The firm had revenue of $511.00 million during the quarter, compared to the consensus estimate of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The company’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.27 EPS. As a group, equities research analysts anticipate that Medpace Holdings, Inc. will post 11.23 EPS for the current 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.