Credit Suisse AG purchased a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,725 shares of the company’s stock, valued at approximately $231,000.
A number of other institutional investors have also made changes to their positions in the stock. Teachers Advisors LLC boosted its position in Medpace Holdings by 190.0% in the 4th quarter. Teachers Advisors LLC now owns 24,993 shares of the company’s stock valued at $901,000 after buying an additional 16,376 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Medpace Holdings by 54.2% in the 1st quarter. Russell Investments Group Ltd. now owns 31,572 shares of the company’s stock valued at $942,000 after purchasing an additional 11,092 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Medpace Holdings by 15.1% in the 1st quarter. Bank of New York Mellon Corp now owns 35,062 shares of the company’s stock valued at $1,047,000 after purchasing an additional 4,609 shares in the last quarter. TFS Capital LLC acquired a new stake in shares of Medpace Holdings in the 1st quarter valued at about $232,000. Finally, Trexquant Investment LP acquired a new stake in shares of Medpace Holdings in the 1st quarter valued at about $516,000. 15.98% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder Medpace Limited Partnership sold 2,000,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $30.27, for a total value of $60,540,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 25.80% of the company’s stock.
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MEDP has been the topic of several research reports. Zacks Investment Research lowered shares of Medpace Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Credit Suisse Group reiterated an “outperform” rating and issued a $36.00 price objective (up from $35.00) on shares of Medpace Holdings in a report on Tuesday, June 6th. Finally, Jefferies Group LLC restated a “hold” rating and set a $31.00 target price (up from $30.00) on shares of Medpace Holdings in a report on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $34.75.
Medpace Holdings, Inc. (NASDAQ MEDP) traded up 0.65% during midday trading on Friday, reaching $31.01. 34,144 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $31.36 and its 200 day moving average is $28.97. Medpace Holdings, Inc. has a 1-year low of $21.76 and a 1-year high of $38.94. The stock has a market cap of $1.22 billion and a P/E ratio of 54.60.
Medpace Holdings (NASDAQ:MEDP) last announced its quarterly earnings data on Monday, July 31st. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.08. Medpace Holdings had a return on equity of 9.32% and a net margin of 5.37%. The business had revenue of $94.60 million for the quarter, compared to analysts’ expectations of $92.71 million. During the same period in the previous year, the business posted $0.45 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Medpace Holdings, Inc. will post $1.43 earnings per share for the current fiscal year.
Medpace Holdings Company Profile
Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.
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