Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Purchased by Procyon Advisors LLC

Procyon Advisors LLC grew its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 11.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,388 shares of the company’s stock after acquiring an additional 252 shares during the quarter. Procyon Advisors LLC’s holdings in Medpace were worth $732,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its holdings in Medpace by 0.9% in the 1st quarter. BlackRock Inc. now owns 3,792,694 shares of the company’s stock valued at $620,448,000 after buying an additional 35,121 shares during the period. Wasatch Advisors Inc. boosted its stake in shares of Medpace by 12.1% in the first quarter. Wasatch Advisors Inc. now owns 2,728,392 shares of the company’s stock valued at $446,338,000 after purchasing an additional 294,103 shares during the period. State Street Corp increased its position in shares of Medpace by 2.5% during the first quarter. State Street Corp now owns 899,855 shares of the company’s stock worth $147,207,000 after acquiring an additional 21,868 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Medpace by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 656,864 shares of the company’s stock valued at $107,456,000 after acquiring an additional 9,881 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Medpace by 67.6% during the 3rd 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. Institutional investors and hedge funds own 77.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Medpace from $312.00 to $408.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Medpace in a research report on Monday, March 18th. They set a “hold” rating and a $395.00 price target on the stock. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. Finally, 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 report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Medpace has a consensus rating of “Moderate Buy” and an average target price of $382.00.

Medpace Stock Down 0.1 %

NASDAQ MEDP traded down $0.48 during mid-day trading on Thursday, hitting $402.79. The stock had a trading volume of 13,349 shares, compared to its average volume of 248,514. The company has a market cap of $12.39 billion, a price-to-earnings ratio of 45.41, a P/E/G ratio of 2.13 and a beta of 1.38. Medpace Holdings, Inc. has a 52-week low of $181.50 and a 52-week high of $419.42. The company has a 50 day simple moving average of $364.20 and a 200 day simple moving average of $304.29.

Medpace (NASDAQ:MEDP) last announced its earnings results on Monday, February 12th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.24. The company had revenue of $498.40 million during the quarter, compared to analysts’ expectations of $498.72 million. Medpace had a net margin of 15.00% and a return on equity of 63.98%. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.12 earnings per share. As a group, equities analysts anticipate that Medpace Holdings, Inc. will post 10.53 earnings per share for the current fiscal year.

Insider Activity at Medpace

In other Medpace news, 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 sale, the chief executive officer now directly owns 4,833,019 shares of the company’s stock, valued at approximately $1,995,940,186.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Medpace news, CEO August J. Troendle sold 100,000 shares of the 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 completion of the sale, the chief executive officer now owns 4,833,019 shares of the company’s stock, valued at $1,995,940,186.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ashley M. Keating sold 250 shares of the stock in a transaction dated Thursday, March 14th. The shares were 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 directly owns 250 shares of the company’s stock, valued at approximately $102,467.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,340 shares of company stock valued at $76,651,647. Company insiders own 25.70% of the company’s stock.

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.