Retirement Systems of Alabama Increases Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Retirement Systems of Alabama increased its holdings in shares of Medpace Holdings, Inc. (NASDAQ:MEDP) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,106 shares of the company’s stock after buying an additional 204 shares during the quarter. Retirement Systems of Alabama owned 0.20% of Medpace worth $19,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of Medpace by 312.6% in the third quarter. Wellington Management Group LLP now owns 421,313 shares of the company’s stock valued at $102,013,000 after purchasing an additional 319,210 shares during the period. Invesco Ltd. increased its holdings in shares of Medpace by 67.6% in the third quarter. Invesco Ltd. now owns 611,900 shares of the company’s stock valued at $148,159,000 after purchasing an additional 246,775 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Medpace in the third quarter valued at about $30,252,000. International Assets Investment Management LLC increased its holdings in shares of Medpace by 248,773.8% in the fourth quarter. International Assets Investment Management LLC now owns 104,527 shares of the company’s stock valued at $32,041,000 after purchasing an additional 104,485 shares during the period. Finally, Lord Abbett & CO. LLC increased its holdings in shares of Medpace by 682.8% in the third quarter. Lord Abbett & CO. LLC now owns 114,588 shares of the company’s stock valued at $27,745,000 after purchasing an additional 99,949 shares during the period. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MEDP shares. StockNews.com raised Medpace from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Jefferies Financial Group upgraded Medpace from a “hold” rating to a “buy” rating and upped their target price for the stock from $340.00 to $450.00 in a research note on Tuesday, April 23rd. Robert W. Baird upped their target price on Medpace from $446.00 to $454.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft began coverage on Medpace in a research note on Monday, March 18th. They issued a “hold” rating and a $395.00 target price on the stock. Finally, UBS Group upgraded Medpace from a “neutral” rating to a “buy” rating and upped their target price for the stock from $282.00 to $452.00 in a research note on Thursday, February 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $443.00.

Insiders Place Their Bets

In other news, major shareholder Medpace Investors, Llc sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $391.75, for a total value of $19,587,500.00. Following the transaction, the insider now owns 5,539,947 shares in the company, valued at $2,170,274,237.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder Medpace Investors, Llc sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $391.75, for a total value of $19,587,500.00. Following the transaction, the insider now owns 5,539,947 shares in the company, valued at $2,170,274,237.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Susan E. Burwig sold 102 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $403.00, for a total value of $41,106.00. Following the completion of the transaction, 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 90 days, insiders have sold 189,340 shares of company stock worth $76,651,647. 20.30% of the stock is owned by corporate insiders.

Medpace Trading Down 3.0 %

Shares of MEDP stock opened at $388.35 on Wednesday. The company has a market capitalization of $12.03 billion, a P/E ratio of 39.59, a P/E/G ratio of 1.99 and a beta of 1.38. The business’s 50 day moving average is $398.09 and its two-hundred day moving average is $328.45. Medpace Holdings, Inc. has a 12-month low of $197.39 and a 12-month high of $421.00.

Medpace (NASDAQ:MEDP) last issued its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. The company had revenue of $511.00 million for the quarter, compared to the consensus estimate of $512.39 million. Medpace had a return on equity of 59.74% and a net margin of 15.92%. Medpace’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.27 earnings per share. On average, research analysts predict that Medpace Holdings, Inc. will post 11.23 earnings per share for the current fiscal year.

Medpace Company Profile

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.