Advisory Services Network LLC Lowers Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Advisory Services Network LLC reduced its position in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 1.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,156 shares of the company’s stock after selling 306 shares during the quarter. Advisory Services Network LLC’s holdings in Medpace were worth $6,934,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Manchester Capital Management LLC increased its stake in Medpace by 50,600.0% during the 1st quarter. Manchester Capital Management LLC now owns 507 shares of the company’s stock valued at $205,000 after purchasing an additional 506 shares in the last quarter. Mitchell Capital Management Co. grew its stake in shares of Medpace by 3.7% in the first quarter. Mitchell Capital Management Co. now owns 18,075 shares of the company’s stock worth $7,305,000 after acquiring an additional 646 shares during the period. Texas Permanent School Fund Corp grew its stake in shares of Medpace by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 20,409 shares of the company’s stock worth $8,248,000 after acquiring an additional 264 shares during the period. Larson Financial Group LLC grew its stake in shares of Medpace by 1.3% in the first quarter. Larson Financial Group LLC now owns 8,305 shares of the company’s stock worth $3,356,000 after acquiring an additional 106 shares during the period. Finally, RiverPark Advisors LLC grew its stake in shares of Medpace by 544.2% in the first quarter. RiverPark Advisors LLC now owns 554 shares of the company’s stock worth $224,000 after acquiring an additional 468 shares during the period. 77.98% of the stock is currently owned by institutional investors.

Medpace Stock Up 1.8 %

NASDAQ:MEDP traded up $8.01 during trading hours on Friday, hitting $443.00. 61,344 shares of the stock traded hands, compared to its average volume of 227,467. Medpace Holdings, Inc. has a 1 year low of $227.21 and a 1 year high of $444.87. The stock has a 50 day moving average price of $400.06 and a 200 day moving average price of $373.77. The company has a market cap of $13.72 billion, a price-to-earnings ratio of 44.34, a price-to-earnings-growth ratio of 2.07 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last released its earnings results on Monday, April 22nd. The company reported $3.20 EPS for the quarter, topping the consensus estimate of $2.45 by $0.75. The firm had revenue of $511.00 million for 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 company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.27 earnings per share. Equities analysts forecast that Medpace Holdings, Inc. will post 11.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MEDP shares. Jefferies Financial Group upgraded shares of Medpace from a “hold” rating to a “buy” rating and lifted their price target for the stock from $340.00 to $450.00 in a research note on Tuesday, April 23rd. TD Cowen assumed coverage on shares of Medpace in a research report on Wednesday, May 29th. They set a “buy” rating and a $452.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Medpace in a research report on Monday, March 18th. They set a “hold” rating and a $395.00 target price for the company. Mizuho assumed coverage on shares of Medpace in a research report on Tuesday, May 28th. They set a “buy” rating and a $435.00 target price for the company. Finally, Guggenheim boosted their target price on shares of Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $445.29.

Insider Activity at Medpace

In other Medpace news, CEO August J. Troendle sold 4,782 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 716,197 shares in the company, valued at $286,894,194.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Medpace news, CEO August J. Troendle sold 4,782 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 716,197 shares in the company, valued at $286,894,194.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO August J. Troendle sold 5,695 shares of the business’s stock in a transaction on 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 transaction, 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 have sold a total of 29,621 shares of company stock valued at $11,816,852 over the last 90 days. 20.30% of the stock is owned by corporate insiders.

Medpace Company 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.