Medpace Holdings, Inc. $MEDP Shares Newly Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 831 shares of the company’s stock, valued at approximately $519,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MEDP. Johnson Financial Group Inc. bought a new position in Medpace in the second quarter worth about $27,000. Jones Financial Companies Lllp acquired a new position in Medpace in the second quarter valued at approximately $30,000. Allied Private Wealth LLC acquired a new position in Medpace in the second quarter valued at approximately $31,000. Kilter Group LLC bought a new position in shares of Medpace during the second quarter valued at approximately $31,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Medpace during the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Price Performance

Shares of NASDAQ:MEDP opened at $653.11 on Monday. The company’s 50-day moving average price is $622.54 and its 200 day moving average price is $532.32. The company has a market cap of $18.27 billion, a PE ratio of 36.20, a P/E/G ratio of 2.53 and a beta of 1.12. Medpace Holdings, Inc. has a fifty-two week low of $373.00 and a fifty-two week high of $693.97.

Medpace (NASDAQ:MEDP) last posted its earnings results on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, topping the consensus estimate of $4.44 by $0.40. Medpace had a net margin of 18.24% and a return on equity of 99.76%. The firm had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $714.47 million. During the same quarter in the prior year, the firm earned $3.86 EPS. Medpace’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities analysts anticipate that Medpace Holdings, Inc. will post 18.06 EPS for the current year.

Insider Activity

In related news, VP Susan E. Burwig sold 3,940 shares of the stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $677.00, for a total value of $2,667,380.00. Following the completion of the transaction, the vice president directly owned 54,012 shares of the company’s stock, valued at $36,566,124. This represents a 6.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO August J. Troendle sold 21,966 shares of the stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $625.47, for a total value of $13,739,074.02. Following the completion of the transaction, the chief executive officer directly owned 338,225 shares of the company’s stock, valued at $211,549,590.75. This trade represents a 6.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 337,113 shares of company stock valued at $210,232,507. Insiders own 20.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MEDP. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $535.00 price target on shares of Medpace in a research report on Thursday, July 23rd. Leerink Partners set a $620.00 price objective on Medpace in a research report on Thursday, July 23rd. Jefferies Financial Group restated a “hold” rating on shares of Medpace in a research report on Monday, September 14th. Barclays upped their price objective on Medpace from $625.00 to $675.00 and gave the stock an “equal weight” rating in a research note on Friday, October 23rd. Finally, Robert W. Baird set a $699.00 target price on Medpace in a research report on Friday, October 23rd. Three research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $649.27.

Medpace Profile

Medpace Holdings, Inc is a global contract research organization (CRO) that provides clinical development services to the biotechnology, pharmaceutical and medical device industries. Founded in 1992 and headquartered in Cincinnati, Ohio, the company works with clients developing treatments and medical products across a range of therapeutic areas.

Medpace offers services spanning the clinical development process, including clinical trial planning and management, regulatory affairs, clinical laboratory testing, data management, biostatistics, medical writing and pharmacovigilance.