Principal Financial Group Inc. Boosts Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Principal Financial Group Inc. raised its position in Medpace Holdings, Inc. (NASDAQ:MEDPGet Rating) by 7.2% during the second quarter, HoldingsChannel.com reports. The firm owned 107,476 shares of the company’s stock after purchasing an additional 7,234 shares during the period. Principal Financial Group Inc.’s holdings in Medpace were worth $16,086,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Medpace by 0.9% in the 1st quarter. BlackRock Inc. now owns 3,792,694 shares of the company’s stock worth $620,448,000 after purchasing an additional 35,121 shares during the period. Wasatch Advisors Inc. raised its position in Medpace by 12.1% in the 1st quarter. Wasatch Advisors Inc. now owns 2,728,392 shares of the company’s stock worth $446,338,000 after purchasing an additional 294,103 shares during the period. State Street Corp raised its position in Medpace by 2.5% in the 1st quarter. State Street Corp now owns 899,855 shares of the company’s stock worth $147,207,000 after purchasing an additional 21,868 shares during the period. Echo Street Capital Management LLC raised its position in Medpace by 18.4% in the 1st quarter. Echo Street Capital Management LLC now owns 695,336 shares of the company’s stock worth $113,750,000 after purchasing an additional 108,133 shares during the period. Finally, Boston Trust Walden Corp raised its position in Medpace by 2.0% in the 2nd quarter. Boston Trust Walden Corp now owns 688,778 shares of the company’s stock worth $103,090,000 after purchasing an additional 13,784 shares during the period. 83.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Medpace news, major shareholder Medpace Investors, Llc acquired 62,516 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were purchased at an average cost of $157.12 per share, for a total transaction of $9,822,513.92. Following the completion of the purchase, the insider now owns 5,955,688 shares in the company, valued at $935,757,698.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Medpace Investors, Llc bought 62,516 shares of the stock in a transaction on Tuesday, September 13th. The stock was bought at an average cost of $157.12 per share, for a total transaction of $9,822,513.92. Following the completion of the purchase, the insider now directly owns 5,955,688 shares in the company, valued at $935,757,698.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Stephen P. Ewald sold 6,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the general counsel now owns 14,854 shares of the company’s stock, valued at $3,275,752.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 489,768 shares of company stock worth $77,322,137. Corporate insiders own 20.60% of the company’s stock.

Medpace Stock Performance

Shares of NASDAQ:MEDP opened at $218.81 on Thursday. The firm’s 50 day simple moving average is $183.70 and its 200-day simple moving average is $163.26. Medpace Holdings, Inc. has a one year low of $126.94 and a one year high of $235.72. The firm has a market cap of $6.80 billion, a PE ratio of 33.56 and a beta of 1.47.

Medpace (NASDAQ:MEDPGet Rating) last released its quarterly earnings data on Monday, October 24th. The company reported $2.05 earnings per share (EPS) for the quarter, beating 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 last year, the firm earned $1.29 earnings per share. The company’s quarterly revenue was up 29.8% on a year-over-year basis. Equities research analysts predict 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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