Lazard Asset Management LLC Boosts Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Lazard Asset Management LLC grew its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDPGet Rating) by 223.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,238 shares of the company’s stock after acquiring an additional 1,547 shares during the quarter. Lazard Asset Management LLC’s holdings in Medpace were worth $334,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Medpace by 0.9% during the first quarter. BlackRock Inc. now owns 3,792,694 shares of the company’s stock worth $620,448,000 after acquiring an additional 35,121 shares in the last quarter. Wasatch Advisors Inc. increased its stake in shares of Medpace by 12.1% in the first quarter. Wasatch Advisors Inc. now owns 2,728,392 shares of the company’s stock worth $446,338,000 after buying an additional 294,103 shares during the period. State Street Corp increased its stake in shares of Medpace by 2.5% in the first quarter. State Street Corp now owns 899,855 shares of the company’s stock worth $147,207,000 after buying an additional 21,868 shares during the period. Echo Street Capital Management LLC increased its stake in shares of Medpace by 18.4% in the first quarter. Echo Street Capital Management LLC now owns 695,336 shares of the company’s stock worth $113,750,000 after buying an additional 108,133 shares during the period. Finally, Boston Trust Walden Corp increased its stake in shares of Medpace by 2.0% in the second quarter. Boston Trust Walden Corp now owns 688,778 shares of the company’s stock worth $103,090,000 after buying an additional 13,784 shares during the period. 83.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MEDP has been the topic of several analyst reports. UBS Group raised shares of Medpace from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $142.00 to $238.00 in a research note on Thursday, October 27th. StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Finally, Robert W. Baird lifted their target price on shares of Medpace from $145.00 to $200.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 25th.

Insider Activity at Medpace

In other news, General Counsel Stephen P. Ewald sold 6,500 shares of the business’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $220.53, for a total transaction of $1,433,445.00. Following the sale, the general counsel now owns 14,854 shares in the company, valued at approximately $3,275,752.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, General Counsel Stephen P. Ewald sold 6,500 shares of the business’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $220.53, for a total transaction of $1,433,445.00. Following the sale, the general counsel now owns 14,854 shares in the company, valued at approximately $3,275,752.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO August J. Troendle bought 62,515 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were acquired at an average price of $167.58 per share, for a total transaction of $10,476,263.70. Following the acquisition, the chief executive officer now owns 5,893,172 shares in the company, valued at approximately $987,577,763.76. The disclosure for this purchase can be found here. Insiders have purchased a total of 489,768 shares of company stock worth $77,322,137 over the last quarter. Corporate insiders own 20.60% of the company’s stock.

Medpace Stock Up 1.4 %

NASDAQ:MEDP opened at $220.70 on Friday. The stock has a market cap of $6.86 billion, a P/E ratio of 33.85 and a beta of 1.47. The firm’s fifty day simple moving average is $179.92 and its 200 day simple moving average is $161.56. Medpace Holdings, Inc. has a twelve month low of $126.94 and a twelve month high of $235.72.

Medpace (NASDAQ:MEDPGet Rating) last released its quarterly earnings results on Monday, October 24th. The company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.58. The business had revenue of $383.74 million for the quarter, compared to analysts’ expectations of $357.17 million. Medpace had a net margin of 16.50% and a return on equity of 41.39%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 earnings per share. On average, analysts expect that Medpace Holdings, Inc. will post 6.97 EPS for the current fiscal year.

Medpace Profile

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Medpace Holdings, Inc provides clinical research-based drug and medical device development services in North America, Europe, and Asia. It offers a suite of services supporting the clinical development process from Phase I to Phase IV in various therapeutic areas. The company also 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.

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Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

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