California Public Employees Retirement System Cuts Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

California Public Employees Retirement System reduced its stake in Medpace Holdings, Inc. (NASDAQ:MEDPGet Rating) by 4.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 59,678 shares of the company’s stock after selling 2,546 shares during the quarter. California Public Employees Retirement System’s holdings in Medpace were worth $8,932,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MEDP. Park Avenue Securities LLC boosted its holdings in shares of Medpace by 28.3% in the 1st quarter. Park Avenue Securities LLC now owns 1,473 shares of the company’s stock worth $241,000 after buying an additional 325 shares during the last quarter. Signaturefd LLC lifted its holdings in Medpace by 486.7% during the first quarter. Signaturefd LLC now owns 264 shares of the company’s stock valued at $43,000 after purchasing an additional 219 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Medpace by 12.5% during the first quarter. State of New Jersey Common Pension Fund D now owns 18,391 shares of the company’s stock valued at $3,009,000 after purchasing an additional 2,047 shares during the last quarter. Versor Investments LP lifted its holdings in Medpace by 25.3% during the first quarter. Versor Investments LP now owns 4,892 shares of the company’s stock valued at $800,000 after purchasing an additional 988 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Medpace by 3.6% during the first quarter. Victory Capital Management Inc. now owns 47,470 shares of the company’s stock valued at $7,311,000 after purchasing an additional 1,670 shares during the last quarter. 83.97% of the stock is owned by hedge funds and other institutional investors.

Medpace Trading Up 1.3 %

Shares of Medpace stock opened at $221.74 on Wednesday. Medpace Holdings, Inc. has a 12-month low of $126.94 and a 12-month high of $235.72. The company has a market cap of $6.90 billion, a price-to-earnings ratio of 34.01 and a beta of 1.47. The company’s 50-day moving average price is $182.32 and its 200-day moving average price is $162.87.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group raised shares of Medpace from a “sell” rating to a “neutral” rating and upped their price objective for the company from $142.00 to $238.00 in a report on Thursday, October 27th. Robert W. Baird upped their price objective on shares of Medpace from $145.00 to $200.00 and gave the company a “neutral” rating in a report on Tuesday, October 25th. Finally, StockNews.com downgraded shares of Medpace from a “buy” rating to a “hold” rating in a report on Friday, October 28th.

Insider Transactions at Medpace

In related news, CEO August J. Troendle acquired 62,515 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were bought at an average cost of $167.58 per share, for a total transaction of $10,476,263.70. Following the completion of the transaction, the chief executive officer now owns 5,893,172 shares in the company, valued at $987,577,763.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO August J. Troendle acquired 62,515 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were bought at an average cost of $167.58 per share, for a total transaction of $10,476,263.70. Following the completion of the transaction, the chief executive officer now owns 5,893,172 shares in the company, valued at $987,577,763.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Stephen P. Ewald sold 6,500 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $220.53, for a total transaction of $1,433,445.00. Following the completion of the transaction, the general counsel now owns 14,854 shares in the company, valued at $3,275,752.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 489,768 shares of company stock valued at $77,322,137. 20.60% of the stock is currently owned by corporate insiders.

Medpace Company Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding MEDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Medpace Holdings, Inc. (NASDAQ:MEDPGet Rating).

Institutional Ownership by Quarter for Medpace (NASDAQ:MEDP)

Receive News & Ratings for Medpace Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medpace and related companies with MarketBeat.com's FREE daily email newsletter.