Procyon Advisors LLC Boosts Stock Position in Medpace Holdings, Inc. (NASDAQ:MEDP)

Procyon Advisors LLC lifted its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 11.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,388 shares of the company’s stock after acquiring an additional 252 shares during the quarter. Procyon Advisors LLC’s holdings in Medpace were worth $732,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. boosted its position in Medpace by 0.9% during the first 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 in the last quarter. Wasatch Advisors Inc. raised its holdings in shares of 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 increased its holdings in shares of Medpace by 2.5% in the first quarter. State Street Corp now owns 899,855 shares of the company’s stock valued at $147,207,000 after purchasing an additional 21,868 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Medpace by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 656,864 shares of the company’s stock valued at $107,456,000 after purchasing an additional 9,881 shares during the last quarter. Finally, 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 last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Wall Street Analyst Weigh In

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

Medpace Trading Down 0.1 %

Shares of Medpace stock traded down $0.48 on Thursday, hitting $402.79. The stock had a trading volume of 13,349 shares, compared to its average volume of 248,514. Medpace Holdings, Inc. has a 52-week low of $181.50 and a 52-week high of $419.42. The stock has a market cap of $12.39 billion, a price-to-earnings ratio of 45.41, a P/E/G ratio of 2.13 and a beta of 1.38. The company’s 50 day moving average price is $364.20 and its 200 day moving average price is $304.29.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings data on Monday, February 12th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.22 by $0.24. The firm had revenue of $498.40 million during the quarter, compared to the consensus estimate of $498.72 million. Medpace had a return on equity of 63.98% and a net margin of 15.00%. The firm’s revenue was up 26.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.12 EPS. Analysts predict that Medpace Holdings, Inc. will post 10.53 EPS for the current fiscal year.

Insider Buying and Selling at Medpace

In other Medpace news, CEO August J. Troendle sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the completion of the sale, the chief executive officer now directly owns 4,833,019 shares of the company’s stock, valued at approximately $1,995,940,186.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Medpace news, CEO August J. Troendle sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $412.98, for a total transaction of $41,298,000.00. Following the transaction, the chief executive officer now owns 4,833,019 shares in the company, valued at approximately $1,995,940,186.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Medpace Investors, Llc sold 13,988 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $386.39, for a total value of $5,404,823.32. Following the transaction, the insider now owns 5,525,959 shares in the company, valued at approximately $2,135,175,298.01. The disclosure for this sale can be found here. Insiders sold a total of 189,340 shares of company stock valued at $76,651,647 in the last ninety days. Insiders own 25.70% of the company’s stock.

Medpace 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.