AIA Group Ltd Sells 285 Shares of Medpace Holdings, Inc. (NASDAQ:MEDP)

AIA Group Ltd cut its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,829 shares of the company’s stock after selling 285 shares during the period. AIA Group Ltd’s holdings in Medpace were worth $561,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. boosted 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 valued at $620,448,000 after purchasing an additional 35,121 shares in the last quarter. Wasatch Advisors Inc. lifted its position in Medpace by 12.1% during the first quarter. Wasatch Advisors Inc. now owns 2,728,392 shares of the company’s stock valued at $446,338,000 after acquiring an additional 294,103 shares during the last quarter. State Street Corp lifted its position in Medpace by 2.5% during the first quarter. State Street Corp now owns 899,855 shares of the company’s stock valued at $147,207,000 after acquiring an additional 21,868 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Medpace by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 656,864 shares of the company’s stock valued at $107,456,000 after acquiring an additional 9,881 shares during the last quarter. Finally, Riverbridge Partners LLC lifted its position in Medpace by 7.1% during the fourth quarter. Riverbridge Partners LLC now owns 652,384 shares of the company’s stock valued at $199,975,000 after acquiring an additional 43,197 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors.

Medpace Stock Performance

MEDP stock opened at $372.00 on Friday. The firm has a market cap of $11.53 billion, a PE ratio of 41.89, a P/E/G ratio of 1.98 and a beta of 1.38. The firm’s fifty day moving average is $395.78 and its 200 day moving average is $319.96. Medpace Holdings, Inc. has a one year low of $185.43 and a one year high of $419.42.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, February 12th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.22 by $0.24. The company had revenue of $498.40 million for the quarter, compared to analyst estimates of $498.72 million. Medpace had a net margin of 15.00% and a return on equity of 63.98%. The firm’s revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the business earned $2.12 earnings per share. Research analysts predict that Medpace Holdings, Inc. will post 10.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on MEDP. UBS Group raised shares of Medpace from a “neutral” rating to a “buy” rating and increased their target price for the company from $282.00 to $452.00 in a research report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Medpace in a report on Monday, March 18th. They issued a “hold” rating and a $395.00 price target for the company. StockNews.com cut shares of Medpace from a “buy” rating to a “hold” rating in a report on Saturday, March 23rd. Finally, Robert W. Baird raised their price target on shares of Medpace from $312.00 to $408.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $382.00.

Insider Activity at Medpace

In other news, VP Susan E. Burwig sold 102 shares of Medpace stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the sale, the vice president now owns 15,181 shares in the company, valued at $6,117,943. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Medpace Investors, Llc sold 13,988 shares of Medpace stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $386.39, for a total value of $5,404,823.32. Following the sale, the insider now owns 5,525,959 shares in the company, valued at $2,135,175,298.01. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Susan E. Burwig sold 102 shares of Medpace stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $403.00, for a total transaction of $41,106.00. Following the completion of the sale, the vice president now owns 15,181 shares in the company, valued at approximately $6,117,943. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,340 shares of company stock worth $76,651,647. 20.30% of the stock is owned by company insiders.

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.