Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. lifted its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 5.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,556,443 shares of the company’s stock after purchasing an additional 142,591 shares during the quarter. Vanguard Group Inc. owned about 8.31% of Medpace worth $783,626,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Deutsche Bank AG grew its stake in shares of Medpace by 72.4% during the third quarter. Deutsche Bank AG now owns 5,397 shares of the company’s stock worth $1,307,000 after acquiring an additional 2,267 shares during the last quarter. QRG Capital Management Inc. acquired a new position in Medpace during the 3rd quarter valued at approximately $575,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Medpace in the third quarter worth $915,000. Envestnet Asset Management Inc. lifted its stake in shares of Medpace by 38.9% during the third quarter. Envestnet Asset Management Inc. now owns 93,945 shares of the company’s stock worth $22,747,000 after buying an additional 26,320 shares during the period. Finally, Dark Forest Capital Management LP grew its holdings in shares of Medpace by 8.7% during the third quarter. Dark Forest Capital Management LP now owns 5,022 shares of the company’s stock valued at $1,216,000 after buying an additional 402 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO August J. Troendle sold 15,102 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 791,541 shares in the company, valued at approximately $317,162,563.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Medpace news, CEO August J. Troendle sold 15,102 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 791,541 shares in the company, valued at $317,162,563.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO August J. Troendle sold 5,695 shares of Medpace stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total transaction of $2,252,315.55. Following the completion of the sale, the chief executive officer now owns 654,656 shares in the company, valued at approximately $258,909,901.44. The disclosure for this sale can be found here. Insiders sold 29,621 shares of company stock worth $11,816,852 over the last three months. 20.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MEDP. Guggenheim boosted their price target on Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Robert W. Baird raised 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. TD Cowen initiated coverage on shares of Medpace in a report on Wednesday, May 29th. They issued a “buy” rating and a $452.00 price objective on the stock. Jefferies Financial Group raised shares of Medpace from a “hold” rating to a “buy” rating and raised their target price for the stock from $340.00 to $450.00 in a report on Tuesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Medpace in a report on Monday, March 18th. They issued a “hold” rating and a $395.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $443.14.

Medpace Stock Performance

Shares of NASDAQ MEDP opened at $404.03 on Friday. The company has a market capitalization of $12.52 billion, a PE ratio of 41.19, a price-to-earnings-growth ratio of 1.98 and a beta of 1.39. The company’s fifty day moving average price is $394.01 and its 200 day moving average price is $363.03. Medpace Holdings, Inc. has a 1 year low of $216.87 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, topping the consensus estimate of $2.45 by $0.75. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The business had revenue of $511.00 million for the quarter, compared to analyst estimates of $512.39 million. During the same period in the prior year, the company posted $2.27 EPS. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities analysts expect that Medpace Holdings, Inc. will post 11.29 EPS for the current year.

Medpace 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.