1832 Asset Management L.P. Purchases Shares of 17,100 Medpace Holdings, Inc. (NASDAQ:MEDP)

1832 Asset Management L.P. bought a new position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,100 shares of the company’s stock, valued at approximately $6,911,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MEDP. TD Asset Management Inc increased its position in shares of Medpace by 195.2% during the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock worth $143,162,000 after purchasing an additional 308,816 shares in the last quarter. Findlay Park Partners LLP acquired a new position in Medpace in the 1st quarter valued at about $90,247,000. Clearbridge Investments LLC increased its position in Medpace by 302.4% in the 1st quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock valued at $105,245,000 after acquiring an additional 195,698 shares during the period. Norges Bank acquired a new position in Medpace in the 4th quarter valued at about $59,163,000. Finally, Epoch Investment Partners Inc. increased its position in Medpace by 82.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock valued at $108,040,000 after acquiring an additional 159,144 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.

Medpace Stock Performance

MEDP traded up $0.97 during trading on Friday, reaching $381.47. The company’s stock had a trading volume of 473,847 shares, compared to its average volume of 317,691. Medpace Holdings, Inc. has a 52-week low of $227.21 and a 52-week high of $459.77. The company’s fifty day moving average price is $404.32 and its 200-day moving average price is $382.76. The company has a market capitalization of $11.83 billion, a price-to-earnings ratio of 38.89, a price-to-earnings-growth ratio of 1.82 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.54 by $0.21. The business had revenue of $528.10 million for the quarter, compared to analyst estimates of $528.41 million. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The company’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.93 EPS. Equities analysts predict that Medpace Holdings, Inc. will post 11.69 earnings per share for the current year.

Insider Transactions at Medpace

In other news, CEO August J. Troendle sold 4,782 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the sale, the chief executive officer now owns 716,197 shares of the company’s stock, valued at approximately $286,894,194.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO August J. Troendle sold 4,782 shares of Medpace stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the completion of the transaction, the chief executive officer now directly owns 716,197 shares in the company, valued at approximately $286,894,194.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO August J. Troendle sold 15,102 shares of Medpace stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $400.69, for a total value of $6,051,220.38. Following the transaction, the chief executive officer now owns 791,541 shares of the company’s stock, valued at $317,162,563.29. The disclosure for this sale can be found here. Insiders have sold 29,621 shares of company stock valued at $11,816,852 in the last quarter. 20.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on MEDP shares. Guggenheim dropped their price target on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a research report on Wednesday. William Blair restated an “outperform” rating on shares of Medpace in a research report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price target on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research report on Wednesday. Robert W. Baird dropped their price target on Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a report on Tuesday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $424.14.

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.