Lazard Asset Management LLC Has $29.21 Million Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Lazard Asset Management LLC cut its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 12.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 72,276 shares of the company’s stock after selling 10,680 shares during the quarter. Lazard Asset Management LLC’s holdings in Medpace were worth $29,210,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in shares of Medpace in the first quarter worth about $27,000. Mather Group LLC. acquired a new position in Medpace during the 1st quarter worth $28,000. GAMMA Investing LLC bought a new position in Medpace in the 4th quarter valued at $30,000. Fidelis Capital Partners LLC bought a new stake in shares of Medpace during the first quarter worth $31,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Medpace in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Insider Transactions at Medpace

In related news, CEO August J. Troendle sold 3,987 shares of Medpace stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $395.22, for a total transaction of $1,575,742.14. Following the completion of the sale, the chief executive officer now owns 660,351 shares of the company’s stock, valued at approximately $260,983,922.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO August J. Troendle sold 3,987 shares of Medpace 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 sale, the chief executive officer now directly owns 660,351 shares of the company’s stock, valued at approximately $260,983,922.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO August J. Troendle sold 4,782 shares of the stock in a transaction 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 transaction, 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. In the last three months, insiders sold 14,519 shares of company stock worth $5,765,631. 20.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

MEDP has been the topic of several recent analyst reports. Robert W. Baird reduced their price objective on shares of Medpace from $469.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. TD Cowen lowered their price objective on shares of Medpace from $452.00 to $434.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group upgraded Medpace from a “hold” rating to a “buy” rating and lifted their target price for the stock from $340.00 to $450.00 in a report on Tuesday, April 23rd. Guggenheim lowered their price target on Medpace from $464.00 to $432.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, StockNews.com upgraded Medpace from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $424.14.

Medpace Price Performance

Shares of NASDAQ:MEDP opened at $381.47 on Monday. The stock has a market capitalization of $11.83 billion, a PE ratio of 38.89, a price-to-earnings-growth ratio of 1.97 and a beta of 1.36. The company’s 50-day moving average price is $404.32 and its two-hundred day moving average price is $383.43. Medpace Holdings, Inc. has a one year low of $227.21 and a one year high of $459.77.

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