Pitcairn Co. Sells 233 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

Pitcairn Co. reduced its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,711 shares of the company’s stock after selling 233 shares during the period. Pitcairn Co.’s holdings in Medpace were worth $1,096,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MEDP. TD Asset Management Inc increased its stake in Medpace by 195.2% in the fourth quarter. TD Asset Management Inc now owns 467,041 shares of the company’s stock valued at $143,162,000 after purchasing an additional 308,816 shares in the last quarter. Findlay Park Partners LLP bought a new stake in shares of Medpace during the first quarter worth about $90,247,000. Clearbridge Investments LLC increased its position in shares of Medpace by 302.4% during the first quarter. Clearbridge Investments LLC now owns 260,411 shares of the company’s stock worth $105,245,000 after acquiring an additional 195,698 shares in the last quarter. Norges Bank bought a new stake in shares of Medpace during the fourth quarter worth about $59,163,000. Finally, Epoch Investment Partners Inc. increased its position in shares of Medpace by 82.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 352,463 shares of the company’s stock worth $108,040,000 after acquiring an additional 159,144 shares in the last quarter. 77.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. William Blair reissued an “outperform” rating on shares of Medpace in a research report on Tuesday. StockNews.com raised shares of Medpace from a “hold” rating to a “buy” rating in a research report on Tuesday. Jefferies Financial Group upgraded shares of Medpace from a “hold” rating to a “buy” rating and boosted their price target for the stock from $340.00 to $450.00 in a report on Tuesday, April 23rd. Mizuho began coverage on shares of Medpace in a report on Tuesday, May 28th. They set a “buy” rating and a $435.00 price target on the stock. Finally, Guggenheim cut their price target on shares of Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $424.14.

Insider Activity at Medpace

In related news, CEO August J. Troendle sold 4,782 shares of the company’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 sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO August J. Troendle sold 4,782 shares of the company’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 sale, the chief executive officer now owns 716,197 shares of the company’s stock, valued at approximately $286,894,194.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO August J. Troendle sold 5,695 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total transaction of $2,252,315.55. Following the sale, the chief executive officer now directly owns 654,656 shares in the company, valued at approximately $258,909,901.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,621 shares of company stock worth $11,816,852. 20.30% of the stock is owned by corporate insiders.

Medpace Stock Performance

MEDP traded down $1.38 during midday trading on Thursday, reaching $380.50. The company had a trading volume of 545,005 shares, compared to its average volume of 243,878. The stock has a market cap of $11.79 billion, a PE ratio of 38.93, a P/E/G ratio of 1.76 and a beta of 1.36. Medpace Holdings, Inc. has a 12-month low of $227.21 and a 12-month high of $459.77. The business has a 50-day moving average price of $404.81 and a two-hundred day moving average price of $381.66.

Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, July 22nd. The company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. The company had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. Medpace had a net margin of 16.74% and a return on equity of 59.91%. Medpace’s revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 EPS. On average, research analysts anticipate that Medpace Holdings, Inc. will post 11.33 earnings per share for the current 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.