Medpace Holdings Inc (MEDP) Shares Bought by Acadian Asset Management LLC
Acadian Asset Management LLC boosted its stake in shares of Medpace Holdings Inc (NASDAQ:MEDP) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 633,743 shares of the company’s stock after acquiring an additional 40,944 shares during the quarter. Acadian Asset Management LLC’s holdings in Medpace were worth $22,979,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Medpace by 23.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,014,439 shares of the company’s stock valued at $29,419,000 after purchasing an additional 191,597 shares during the period. Ameriprise Financial Inc. lifted its position in Medpace by 88.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 416,101 shares of the company’s stock valued at $13,266,000 after purchasing an additional 195,284 shares during the period. Granite Investment Partners LLC lifted its position in Medpace by 5.5% during the 3rd quarter. Granite Investment Partners LLC now owns 295,415 shares of the company’s stock valued at $9,424,000 after purchasing an additional 15,486 shares during the period. Redmile Group LLC acquired a new position in Medpace during the 2nd quarter valued at about $6,526,000. Finally, State Street Corp lifted its position in Medpace by 4.1% during the 2nd quarter. State Street Corp now owns 132,731 shares of the company’s stock valued at $3,853,000 after purchasing an additional 5,209 shares during the period. Institutional investors own 16.80% of the company’s stock.
A number of research firms have issued reports on MEDP. KeyCorp restated a “hold” rating on shares of Medpace in a research report on Tuesday, October 17th. Robert W. Baird upped their target price on shares of Medpace from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Zacks Investment Research downgraded shares of Medpace from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. BidaskClub upgraded shares of Medpace from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Finally, Jefferies Group upped their target price on shares of Medpace from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Wednesday, November 1st. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $36.60.
Medpace (NASDAQ:MEDP) last announced its quarterly earnings results on Monday, October 30th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $98.68 million for the quarter, compared to the consensus estimate of $96.84 million. Medpace had a net margin of 6.44% and a return on equity of 10.00%. Medpace’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the company posted $0.40 EPS. research analysts predict that Medpace Holdings Inc will post 1.5 earnings per share for the current fiscal year.
In related news, major shareholder Medpace Limited Partnership sold 4,600,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $30.16, for a total value of $138,736,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 25.80% of the company’s stock.
Medpace Company Profile
Medpace Holdings, Inc is a clinical contract research organization. The Company provides clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include 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.
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