Van ECK Associates Corp Boosts Stake in Medpace Holdings, Inc. (NASDAQ:MEDP)

Van ECK Associates Corp grew its stake in Medpace Holdings, Inc. (NASDAQ:MEDP) by 36.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,201 shares of the company’s stock after buying an additional 2,996 shares during the period. Van ECK Associates Corp’s holdings in Medpace were worth $4,527,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. RiverPark Advisors LLC purchased a new position in shares of Medpace during the fourth quarter worth $26,000. Contravisory Investment Management Inc. purchased a new position in shares of Medpace during the fourth quarter worth $26,000. Rise Advisors LLC purchased a new position in shares of Medpace during the first quarter worth $27,000. Mather Group LLC. acquired a new stake in Medpace during the first quarter valued at $28,000. Finally, GAMMA Investing LLC acquired a new stake in Medpace during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Medpace Stock Down 0.2 %

Shares of NASDAQ MEDP traded down $0.67 during trading on Friday, hitting $402.40. The company had a trading volume of 115,513 shares, compared to its average volume of 229,823. The stock has a fifty day simple moving average of $398.07 and a two-hundred day simple moving average of $370.02. Medpace Holdings, Inc. has a fifty-two week low of $227.21 and a fifty-two week high of $437.39. The firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of 40.78, a price-to-earnings-growth ratio of 1.99 and a beta of 1.36.

Medpace (NASDAQ:MEDP) last posted its quarterly earnings results on Monday, April 22nd. The company reported $3.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.75. The firm had revenue of $511.00 million for the quarter, compared to analyst estimates of $512.39 million. Medpace had a net margin of 15.92% and a return on equity of 59.74%. Medpace’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.27 earnings per share. On average, analysts anticipate that Medpace Holdings, Inc. will post 11.29 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO August J. Troendle sold 5,695 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $395.49, for a total transaction of $2,252,315.55. Following the transaction, the chief executive officer now directly owns 654,656 shares in the company, valued at $258,909,901.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO August J. Troendle sold 4,782 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $400.58, for a total transaction of $1,915,573.56. Following the transaction, the chief executive officer now directly owns 716,197 shares in the company, valued at $286,894,194.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO August J. Troendle sold 5,695 shares of Medpace stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $395.49, for a total transaction of $2,252,315.55. Following the transaction, the chief executive officer now directly owns 654,656 shares in the company, valued at $258,909,901.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,621 shares of company stock worth $11,816,852. 20.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on MEDP. Robert W. Baird raised their price target on shares of Medpace from $446.00 to $454.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Mizuho began coverage on shares of Medpace in a research report on Tuesday, May 28th. They set a “buy” rating and a $435.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Medpace in a research report on Monday, March 18th. They set a “hold” rating and a $395.00 price target on the stock. StockNews.com lowered shares of Medpace from a “buy” rating to a “hold” rating in a research report on Friday, June 7th. Finally, Guggenheim raised their price target on shares of Medpace from $453.00 to $464.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $443.14.

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.