Victory Capital Management Inc. Purchases 12,127 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Victory Capital Management Inc. grew its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 21.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,657 shares of the company’s stock after buying an additional 12,127 shares during the quarter. Victory Capital Management Inc.’s holdings in Medpace were worth $21,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MEDP. Wellington Management Group LLP grew its stake in Medpace by 312.6% in the 3rd quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock worth $102,013,000 after acquiring an additional 319,210 shares in the last quarter. Invesco Ltd. grew its stake 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. Assenagon Asset Management S.A. purchased a new position in Medpace during the 3rd quarter worth $30,252,000. International Assets Investment Management LLC raised its position in Medpace by 248,773.8% during the 4th quarter. International Assets Investment Management LLC now owns 104,527 shares of the company’s stock valued at $32,041,000 after purchasing an additional 104,485 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Medpace by 682.8% in the 3rd quarter. Lord Abbett & CO. LLC now owns 114,588 shares of the company’s stock worth $27,745,000 after buying an additional 99,949 shares during the period. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Medpace

In other Medpace news, major shareholder Medpace Investors, Llc sold 50,000 shares of the business’s stock in a transaction that occurred on 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 completion of 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Medpace news, major shareholder Medpace Investors, Llc sold 50,000 shares of Medpace stock in a transaction on Friday, February 16th. The shares were sold at an average price of $391.75, for a total value of $19,587,500.00. Following the completion of the transaction, the insider now owns 5,539,947 shares of the company’s stock, valued at $2,170,274,237.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO August J. Troendle sold 15,102 shares of the stock in a transaction dated Monday, April 29th. The stock was 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 in the company, valued at $317,162,563.29. The disclosure for this sale can be found here. Insiders have sold 204,442 shares of company stock worth $82,702,867 over the last quarter. 20.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MEDP has been the subject of several recent research reports. Jefferies Financial Group upgraded Medpace from a “hold” rating to a “buy” rating and lifted their price objective for the company from $340.00 to $450.00 in a report on Tuesday, April 23rd. Robert W. Baird upped their price target 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. Guggenheim increased their price objective on shares of Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. UBS Group upgraded Medpace from a “neutral” rating to a “buy” rating and upped their target price for the stock from $282.00 to $452.00 in a report on Thursday, February 15th. Finally, StockNews.com upgraded shares of Medpace from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. One investment 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 a consensus rating of “Moderate Buy” and a consensus target price of $443.00.

Medpace Price Performance

Shares of MEDP stock opened at $399.20 on Friday. The business has a fifty day moving average of $397.73 and a 200 day moving average of $335.02. The firm has a market capitalization of $12.37 billion, a price-to-earnings ratio of 40.69, 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.

Medpace (NASDAQ:MEDP) last posted its earnings results on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.75. The company 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 firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.27 earnings per share. As a group, equities research analysts expect that Medpace Holdings, Inc. will post 11.23 earnings per share 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.