Medpace Holdings, Inc. (NASDAQ:MEDP) Shares Acquired by M&G Plc

M&G Plc grew its position in Medpace Holdings, Inc. (NASDAQ:MEDP) by 12.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,508 shares of the company’s stock after purchasing an additional 3,040 shares during the period. M&G Plc owned approximately 0.09% of Medpace worth $11,333,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Medpace by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 2,556,443 shares of the company’s stock worth $783,626,000 after buying an additional 142,591 shares during the last quarter. TD Asset Management Inc grew its holdings in Medpace by 22.9% during the first quarter. TD Asset Management Inc now owns 574,149 shares of the company’s stock worth $232,042,000 after acquiring an additional 107,108 shares during the period. Epoch Investment Partners Inc. grew its holdings in Medpace by 15.3% during the first quarter. Epoch Investment Partners Inc. now owns 406,446 shares of the company’s stock worth $164,265,000 after acquiring an additional 53,983 shares during the period. Bessemer Group Inc. grew its holdings in Medpace by 1.6% during the first quarter. Bessemer Group Inc. now owns 394,834 shares of the company’s stock worth $159,572,000 after acquiring an additional 6,137 shares during the period. Finally, Westwind Capital grew its holdings in Medpace by 800.1% during the second quarter. Westwind Capital now owns 380,929 shares of the company’s stock worth $156,886,000 after acquiring an additional 338,610 shares during the period. 77.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Medpace

In other Medpace news, CEO August J. Troendle sold 5,695 shares of the company’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 sale, the chief executive officer now directly owns 654,656 shares of the company’s stock, valued at $258,909,901.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO August J. Troendle sold 5,695 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 654,656 shares in the company, valued at $258,909,901.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO August J. Troendle sold 3,987 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $395.22, for a total transaction of $1,575,742.14. Following the transaction, the chief executive officer now owns 660,351 shares in the company, valued at $260,983,922.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,737 shares of company stock valued at $3,850,058. Insiders own 20.30% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on MEDP shares. Guggenheim dropped their target price on Medpace from $464.00 to $432.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Truist Financial assumed coverage on Medpace in a research note on Thursday, August 1st. They issued a “hold” rating and a $415.00 price target on the stock. Mizuho assumed coverage on Medpace in a research report on Tuesday, May 28th. They set a “buy” rating and a $435.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on Medpace from $395.00 to $336.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Finally, Jefferies Financial Group upgraded Medpace from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $340.00 to $450.00 in a research report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $423.00.

Medpace Price Performance

Shares of Medpace stock opened at $384.18 on Wednesday. The business has a 50-day moving average of $401.77 and a 200-day moving average of $390.85. The company has a market capitalization of $11.90 billion, a PE ratio of 39.16, a P/E/G ratio of 2.00 and a beta of 1.36. Medpace Holdings, Inc. has a 1-year low of $227.21 and a 1-year high of $459.77.

Medpace (NASDAQ:MEDP) last released its quarterly earnings results on Monday, July 22nd. The company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.21. Medpace had a return on equity of 55.14% and a net margin of 16.74%. The company had revenue of $528.10 million for the quarter, compared to analysts’ expectations of $528.41 million. During the same quarter in the previous year, the company posted $1.93 earnings per share. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, equities analysts expect that Medpace Holdings, Inc. will post 11.66 earnings per share for the current fiscal year.

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.