Van ECK Associates Corp Increases Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Van ECK Associates Corp boosted its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 38.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,205 shares of the company’s stock after acquiring an additional 2,258 shares during the quarter. Van ECK Associates Corp’s holdings in Medpace were worth $2,515,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. RiverPark Advisors LLC purchased a new position in shares of Medpace in the fourth quarter worth $26,000. Contravisory Investment Management Inc. purchased a new position in shares of Medpace in the fourth quarter valued at about $26,000. GAMMA Investing LLC purchased a new position in shares of Medpace in the fourth quarter valued at about $30,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Medpace during the fourth quarter valued at about $33,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Medpace by 213.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 345 shares of the company’s stock worth $105,000 after purchasing an additional 235 shares during the period. 77.98% of the stock is owned by hedge funds and other institutional investors.

Medpace Price Performance

Shares of NASDAQ MEDP opened at $402.10 on Wednesday. The stock has a market cap of $12.46 billion, a P/E ratio of 40.99, a price-to-earnings-growth ratio of 1.95 and a beta of 1.40. Medpace Holdings, Inc. has a 1 year low of $197.39 and a 1 year high of $421.00. The firm has a 50-day moving average of $398.00 and a 200 day moving average of $334.20.

Medpace (NASDAQ:MEDP) last released its 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. The firm had revenue of $511.00 million during the quarter, compared to analyst estimates of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The business’s revenue was up 17.7% on a year-over-year basis. During the same period last year, the business earned $2.27 earnings per share. Research analysts expect that Medpace Holdings, Inc. will post 11.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Medpace

In other news, CEO August J. Troendle sold 100,000 shares of the firm’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 transaction, the chief executive officer now directly owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO August J. Troendle sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $412.98, for a total value of $41,298,000.00. Following the transaction, the chief executive officer now owns 4,833,019 shares in the company, valued at $1,995,940,186.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO August J. Troendle sold 15,102 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $400.69, for a total transaction of $6,051,220.38. Following the sale, the chief executive officer now directly owns 791,541 shares of the company’s stock, valued at approximately $317,162,563.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 204,442 shares of company stock worth $82,702,867. 20.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on MEDP. StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. UBS Group raised Medpace from a “neutral” rating to a “buy” rating and raised their price target for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. Deutsche Bank Aktiengesellschaft began coverage on shares of Medpace in a research report on Monday, March 18th. They set a “hold” rating and a $395.00 price objective on the stock. Robert W. Baird raised their target price on shares of Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group upgraded shares of Medpace from a “hold” rating to a “buy” rating and boosted their price target for the company from $340.00 to $450.00 in a research report on Tuesday, April 23rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $443.00.

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.