Wasatch Advisors LP Has $393.81 Million Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Wasatch Advisors LP lowered its stake in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 17.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 974,415 shares of the company’s stock after selling 211,766 shares during the quarter. Medpace makes up approximately 2.1% of Wasatch Advisors LP’s holdings, making the stock its 7th biggest holding. Wasatch Advisors LP owned about 3.15% of Medpace worth $393,810,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MEDP. Rise Advisors LLC acquired a new position in shares of Medpace during the first quarter valued at $27,000. Mather Group LLC. acquired a new stake in shares of Medpace during the 1st quarter worth approximately $28,000. Contravisory Investment Management Inc. bought a new stake in shares of Medpace during the fourth quarter worth approximately $26,000. RiverPark Advisors LLC bought a new stake in shares of Medpace during the fourth quarter worth approximately $26,000. Finally, GAMMA Investing LLC acquired a new position in Medpace in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MEDP. TD Cowen started coverage on shares of Medpace in a report on Wednesday, May 29th. They set a “buy” rating and a $452.00 target price for the company. Mizuho began coverage on Medpace in a report on Tuesday, May 28th. They issued a “buy” rating and a $435.00 price objective for the company. Guggenheim raised their target price on Medpace from $453.00 to $464.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Robert W. Baird increased their price target on shares of Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Jefferies Financial Group upgraded shares of Medpace from a “hold” rating to a “buy” rating and boosted their price objective for the company from $340.00 to $450.00 in a report on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $443.14.

Insider Buying and Selling at Medpace

In other news, CEO August J. Troendle sold 4,782 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were 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 of the company’s stock, valued at approximately $286,894,194.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO August J. Troendle sold 3,987 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $395.22, for a total transaction of $1,575,742.14. Following the completion of the transaction, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at $260,983,922.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO August J. Troendle sold 4,782 shares of the company’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 value of $1,915,573.56. Following the sale, the chief executive officer now owns 716,197 shares in the company, valued at approximately $286,894,194.26. 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 90 days. 20.30% of the stock is currently owned by company insiders.

Medpace Stock Performance

NASDAQ MEDP traded down $2.82 during trading hours on Tuesday, reaching $404.42. 197,372 shares of the company’s stock were exchanged, compared to its average volume of 231,776. Medpace Holdings, Inc. has a one year low of $227.21 and a one year high of $437.39. The company’s 50-day moving average is $397.69 and its two-hundred day moving average is $369.55. The company has a market capitalization of $12.53 billion, a price-to-earnings ratio of 41.23, a price-to-earnings-growth ratio of 2.04 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings data 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. The company had revenue of $511.00 million during the quarter, compared to the consensus estimate of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 59.74%. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.27 earnings per share. Research analysts predict that Medpace Holdings, Inc. will post 11.29 earnings per share for the current fiscal year.

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.